FTX Trading Ltd. and the FTX Recovery Trust have confirmed that the next round of distributions for customer and unsecured claims will take place on April 11, 2025.
This includes payments for Class 5 Customer Entitlement Claims, Class 6 General Unsecured Claims, and newly approved Convenience Claims that have yet to be settled.
Following the initial payments made to Convenience Class holders with claims under $50,000, this round is expected to distribute approximately $1.2 billion through BitGo and Kraken, the designated Distribution Service Providers. Analysts anticipate these payouts will contribute to a boost in Bitcoin’s price as recipients re-enter the market.
FTX has set a deadline of May 30, 2025, for claimants to complete necessary pre-distribution requirements, including KYC verification, tax form submissions, and onboarding with BitGo or Kraken. The exchange has reiterated that failure to meet these steps will result in delays or disqualification from the upcoming distribution.
John J. Ray III, Plan Administrator of the FTX Recovery Trust, emphasized the ongoing recovery efforts, acknowledging customers' patience throughout the complex process. He assured stakeholders that additional claim classes would continue receiving funds as part of the broader bankruptcy resolution strategy.
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