TechFlow News, July 18, according to Cointelegraph, FTX Recovery Trust announced that it will launch the fifth round of creditor distributions on July 31, expecting to allocate approximately $900 million to the convenient claims and non-convenient claims categories in the reorganization plan.
Eligible creditors can receive payments via BitGo, Kraken, or Payoneer, with funds expected to arrive within 1 to 3 business days after the distribution launch. According to the FTX reorganization plan, convenient claims under $50,000 will be compensated at 120%, while other claims will have a repayment ratio of approximately 103% to 105%.
Since filing for bankruptcy in November 2022, FTX has cumulatively distributed approximately $10 billion to creditors.
