FTX Begins First Round of Distributions to Convenience Classes, Future Payments Scheduled

FTX Kicks Off Initial Distributions to Convenience Class Holders



FTX Trading Ltd., together with the FTX Recovery Trust, has officially commenced the initial round of distributions to holders of allowed claims within its Convenience Classes. This significant development marks a crucial step in FTX's ongoing recovery process following its Chapter 11 bankruptcy proceedings.

The initial distributions are expected to be credited to customers’ accounts within one to three business days. This move is part of a systematic approach outlined in FTX's Chapter 11 Plan of Reorganization, aimed at restoring trust and providing relief to those affected by the platform's previous turmoil.

Future Distribution Plans


Looking forward, FTX has announced that the next round of distributions is scheduled for May 30, 2025, with the record date set for April 11, 2025. This upcoming distribution will specifically target holders of allowed claims related to FTX’s Class 5 Customer Entitlement Claims and Class 6 General Unsecured Claims, including those Convenience Claims that have been recently authorized.

Plan Administrator John J. Ray III expressed gratitude towards FTX's customers and creditors for their ongoing patience during these complex recovery efforts.

Topics Financial Services & Investing)

【About Using Articles】

You can freely use the title and article content by linking to the page where the article is posted.
※ Images cannot be used.

【About Links】

Links are free to use.