FTX WILL LAUNCH THE FIFTH ROUND OF CREDITOR DISTRIBUTION ON 31 JULY, AMOUNTING TO APPROXIMATELY $900 MILLION

On 18 July, FTX Recovery Trust and FTX announced that the next round of funding allocations would be launched on 31 July, with approximately $900 million allocated to facilitating and non-facilitating claimants in the reorganization plan. Eligible creditors can receive funds within 1 to 3 working days through the BitGo, Kraken or Payoneer accounts. This round is allocated to the fifth round of FTX repayments to creditors. Under the FTX reorganization plan, claims for facilities below $50,000 will be paid 120 per cent and other claims will be allocated between 103 and 105 per cent. Since FTX filed for bankruptcy in November 2022, FTX Recovery Trust has allocated approximately $10 billion. Former FTX CEO Sam “SBF” Bankman-Fried was sentenced to 25 years' imprisonment in 2024 and his appeal for conviction and sentence was rejected last month。