FTX to Repay $1.6B in Third Bankruptcy Distribution

The FTX Recovery Trust confirmed on Friday that it will distribute $1.6 billion to creditors at the end of this ￰0￱ marks the third payout since the exchange collapsed in November ￰1￱ creditor groups will receive repayments on September ￰2￱ amounts will cover between 78% and 120% of the value of each group’s original holdings on FTX when the exchange shut ￰3￱ variation depends on the type of claims ￰4￱ distributions form part of the estate’s structured recovery ￰5￱ will be processed through Bitgo, Kraken, and ￰6￱ this year, FTX creditors received more than $5 billion in the second wave of ￰7￱ Trust began executing its distribution strategy in 2024, under the direction of John ￰8￱ III, who is managing asset recovery ￰9￱ collapsed in 2022 after its founder, Sam Bankman-Fried, and key associates misused customer deposits to cover losses at Alameda Research, the firm’s affiliated hedge ￰10￱ failure left billions missing and triggered one of the largest fraud cases in U.

S. history. Bankman-Fried was later convicted and is now serving a 25-year prison ￰11￱ former executives, including Gary Wang, Caroline Ellison, and Nishad Singh, testified against ￰12￱ September 30 payouts continue the process of repaying former FTX customers, with the Trust expected to make further distributions as more assets are recovered.