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CoinGape

FTX Kicks Off Claims Distribution with Reorganization Plan in Full Effect

CoinGape
Summary
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80% Informative

FTX to distribute $ 14.7B-$16.5B to creditors, 98% to recover 119% of claims.

Payments based on Nov 2022 values; Bitcoin then $ 15K-$17 K, now $ 100K.

Initial payments to the creditors in the Convenience Classes will be made within 60 days .

FTX has developed a Customer Portal where creditors are taken through a step by step procedure of eight steps.