The Window Exchange Crypto Exchange plans to pay $ 5.4 billion from a wave of payments to creditors at the end of the month.
Eligible creditors will receive funds via Bitgo or Kraken within 1-3 working days from May 30, by a new press release exchange.
FTX will make payments from its cash reserves of $ 11.4 billion, and the scholarship indicates that subsequent payments will be announced on a later date.
The bankruptcy company classifies its main creditors as individuals and institutions with millions of dollars hidden in the platform before its collapse. Meanwhile, the small creditors classified in the “convenience class” of FTX began receive distributions in February.
In October, an American bankruptcy court Greenlit FTX has the plan to distribute between $ 14.7 billion and $ 16.5 billion in payments to former Crypto Exchange customers.
The scheme provides that 98% of the scholarship creditors received around 119% of the value of their assets on the day of the FTX bankruptcy in November 2022.
Increased payments are thanks to the prices of cryptography and the participation of 8% of the FTX in the Safety and Research Society on AI (Artificial Intelligence) Anthropic.
The FTX imploded and filed for its charges in the middle of accusations that its then executive, Sam Bankman, poorly managed the stock market funds by lending billions of dollars in customer deposits to Alameda Research, the business branch of the company.
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