FTX Sets May 30, 2025, for Creditor Repayments

FTX, the collapsed cryptocurrency exchange, will begin repaying its major creditors on May 30, 2025, using a cash reserve of $11.4 billion amassed since its bankruptcy filing in November 2022. While smaller creditors with claims under $50,000 have already received payments, larger creditors, including institutional investors, will soon receive up to 118-119% of their claims in cash. However, the valuation of claims at November 2022 cryptocurrency prices has frustrated many creditors, given the significant rise in crypto values since then. The repayment process has been complicated by billions in disputed or fraudulent claims, amounting to '27 quintillion' submissions, which has delayed full distribution. FTX's CEO John J. Ray III has led the asset recovery efforts, reclaiming between $14.7 billion and $16.5 billion in assets. The bankruptcy proceedings highlighted by court filings aim to resolve the numerous claims while managing interest payments due on outstanding claims.