- The cryptocurrency is held with Kraken and Bito to facilitate the distribution of money to creditors.
- FTX Recovery Trust will continue with more money for creditors and resolved claims.
FTX Recovery Trust announced that the second phase of the money distribution will start on May 30, 2025. According to the announcement, FTX will distribute more than $ 5 billion to creditors in the comfort of the plan and not to waive the prior distribution requirements.
FTX Recovery Trust has made a partnership with Kaken and Bitgo Cryptocurrency currencies to ensure a smooth distribution of money in digital assets, including Stablecoins. For all qualified FTX creditors in the second distribution plan, money is likely to be processed within 1-3 working days from May 30.
“This first non -assembly category distributions are an important milestone for FTX. The range and size of the Croditor FTX base make this an unprecedented distribution process, and today’s announcement reflects the outstanding success of the efforts and coordination of our team from the professionals,” today. male.
The FTX team began a trip to distribute between 14 to 16 billion dollars to creditors after years of litigation. Earlier this year, FTX distributed $ 1.2 billion, with further allocation in the future in the near future.
Market effect to distribute FTX funds
The distribution of FTX funds coincided with creditors with a cloud recovery in the broader encryption market, led by the Bitcoin pump above $ 100,000. The distribution of more than $ 5 billion is likely to add the purchase pressure to the Altcoin market, where the encryption analysts expect to be in the near future.
Kraken and Bitgo will benefit from the encoded currency greatly from the distribution of FTX boxes with more creditors to receive their money. Ultimately, the FTX bankruptcy solution will open a new chapter of accreditation of cryptocurrencies via organized stock exchanges.
