Bankruptcy encryption EXCHANGE FTX is known to have been paying to major creditors in late May.
Business Reconstruction Lawyer Andrew Dietderich said in a court last week that payments will begin on May 30.
The FTX will use the accumulated $ 11.4 billion cash reserves after the encryption exchange has been suspended to repay major creditors. The FTX classifies major creditors into individuals and institutions with millions of dollars on the platform before collapse.
Meanwhile, small creditors classified as FTX’s “Convenience Class” began to be distributed in February according to the press release of the exchange.
In October, the US Bankruptcy Court Greenlit FTX plans to distribute $ 14.7 billion to $ 16.5 billion to previous customers of Crypto Exchange.
The plan requires 98%of the EXCHANGE creditor to receive about 119%of its value on the date of bankruptcy in November 2022.
Increased payments are due to the price of encryption and 8% of FTX for AI safety and research firms.
At that time, the FTX bankruptcy and applied for bankruptcy for accusing SAM Bankman-Fried, at the time, borrowed billions of dollars of customer deposits from Alameda Research, the company’s trading armed armed.
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