The payouts to FTX creditors have sparked both controversy and speculation that the payouts could be reinvested back in the crypto markets.
The FTX Recovery Trust has initiated a second round of payments to its creditors. On May 30, the Trust started a $5 billion payout to eligible creditors in the Convenience and Non-Convenience Classes who have completed the pre-distribution requirements.
According to a May 28 announcement, the creditors’ distribution will include Dotcom Customer Entitlement Claims, which are receiving a 72% distribution; US Customer Entitlement Claims, which are receiving a 54% distribution; and Convenience Claims, which will receive a 120% distribution.
Additionally, General Unsecured Claims and Digital Asset Loan Claims will each receive a 61% distribution as per the reimbursement plan. Recipients should receive their claims in one to two business days from the official distribution partners, Kraken and Bitgo.
