FTX Repays $900 Million to Creditors in Fifth Distribution

FTX is preparing to distribute another $900 million in repayments to its creditors, bringing the total announced payments beyond $10 billion.

The fifth creditor distribution will start on July 31, with eligible creditors receiving their funds via BitGo, Kraken, or Payoneer within three business days.

According to FTX's Chapter 11 reorganization plan, users of the global and US exchanges will receive an additional 9% under Class 5a, taking their cumulative recovery to 105% of the value of their approved claims.

General unsecured creditors and holders of crypto loan claims will each receive an incremental 3%, bringing their total to 103%. Convenience-class creditors, representing smaller customer claims, will get a cumulative 120% of their approved claims after the latest repayment.