FTX Repayments Reach $11 Billion Milestone
The FTX Recovery Trust has launched its fifth wave of repayments to creditors affected by the 2022 bankruptcy, returning nearly $11 billion in total. The latest disbursement of $900 million is being distributed through partner platforms such as Kraken, BitGo, and Payoneer.
FTX's collapse in November 2022 sent shockwaves throughout the crypto industry, leaving thousands of private and institutional investors without access to their accounts. The FTX Recovery Trust has been working tirelessly to repay these creditors, with the fifth wave marking a significant milestone in this process.
The court has rejected FTX's claims for general damages against Binance but upheld its claim for $1.76 billion in restitution, which is being sought from Binance as part of the liquidation proceedings.