The bankrupt Crypto exchange FTX is reportedly ready to pay his most important group of creditors at the end of May.
Business restructuring lawyer Andrew Dietderich said last week before the court that the payouts were planned to start on 30 May, Bloomberg report.
FTX will use its $ 11.4 billion cash reserves that have been collected after the crypto exchange had fallen to reimburse large creditors. FTX classifies its most important creditors as individuals and institutions that had stored millions of dollars in the platform prior to the collapse.
In the meantime, smaller creditors started categorized in FTX’s “Convenience Class” Received distributions In February, according to a press release from the stock exchange.
In October, the plan of an American Bankruptcy Court Greenlit FTX is between $ 14.7 billion and $ 16.5 billion in payouts to the former customers of the Crypto Exchange.
The plan requires 98% of the creditors of the stock market to receive approximately 119% of the value of their property on the day that FTX applied for bankruptcy in November 2022.
The increased payments are Safety and Research Company Anthropic thanks to the Crypto prices and the importance of 8% of FTX in the AI (Artificial Intelligence).
FTX imploded and submitted bankruptcy in the midst of accusations that her then Chief Director, Sam Bankman-Gefruurde, has incorrectly granted the funds of the Exchange by borrowing billions of dollars of customer deposits to Alameda Research, the company’s commercial arm.
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