TechFlow news, May 16 — According to The Block, the bankrupt cryptocurrency exchange FTX will begin distributing over $5 billion to creditors on May 30, marking the second phase of its Chapter 11 reorganization plan.
FTX Trading Ltd. (the parent company of FTX) announced that eligible creditors will receive funds within one to three business days starting May 30 through two distribution partners, BitGo and Kraken. This payout will be directed at convenience and non-convenience class permitted claimants who have completed the prerequisite steps for distribution.




