FTX to Pay Creditors Another $900 Million: Here’s Who Gets the Money
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The former cryptocurrency exchange announced it will begin its fifth creditor distribution at the end of the month, issuing a $900 million repayment under its Chapter 11 reorganization plan. The payout pushes total announced repayments beyond $10 billion almost four years after the collapse, signaling progress in creditor recovery and a modest boost to crypto market confidence and adoption.
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The former cryptocurrency exchange giant announced yesterday that it will begin its fifth creditor distribution at the end of the month, pushing the total announced repayments beyond $10 billion almost four years after it went bust.
The next batch of repayments will be for $900 million, which works in alignment with the company’s Chapter 11 reorganization plan.
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