Home
/ Insights
Crypto Newsfeed
Master
reply

FTX appoints BitGo and Kraken for bankruptcy payout distribution

Distribution partners announced: FTX’s choice of BitGo and Kraken aims to streamline the bankruptcy payout process. Creditors can choose stablecoin payouts by converting fiat, addressing some concerns, but users in unserved regions may face challenges.

Effective date and claims: The distribution officially begins on January 3, 2025, with 98% of convenience class creditors expecting payouts at 119% of their November 2022 claims. Preparations for timely repayments are encouraged by FTX CEO John RAY III.

Asset recovery and fees scrutiny: FTX has recovered 35,000,000 USD from Gate.io and 14,000,000 USD from political committees. However, professional fees exceeding 98,500,000 USD raised eyebrows, as top advisors benefit significantly during the bankruptcy process.

This is community-generated content, not advice from ONUS.
1
heart
reply
share
 
send
ONUS
ONUS
Trusted by
4 Million +
Users
Sign up receive 10$
Trending coin
Top gainers
Price Prediction
How to buy
Research