FTX Recovery Trust to Distribute More Than $5 Billion to Creditors on May 30

FTX Recovery Trust, the entity overseeing the bankruptcy estate of the collapsed crypto exchange FTX Trading Ltd., said it will distribute more than $5 billion to creditors on 30 May 2025. The upcoming payout marks the second distribution under the company’s court-approved Chapter 11 Plan of Reorganization.Payments will be made to holders of allowed claims in the Plan’s Convenience and Non-Convenience Classes who have completed the required pre-distribution steps. The move is intended to advance restitution to thousands of customers and other creditors affected by FTX’s 2022 collapse.To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io