$2.2B FTX Payout Set for March 31, Creditors Get Paid First

FTX has announced that it will distribute $2.2 billion to creditors on March 31, marking its fourth payout since the exchange's collapse in November 2022.

The funds were unlocked after a court-approved reduction of the disputed claims reserve from $4.6 billion to $2.4 billion.

Payments will be made in cash at 2022 petition-date values, not at current cryptocurrency prices.

Eligible creditors can expect to receive funds within one to three business days of the March 31 start date through distribution service providers BitGo, Kraken, and Payoneer.