The FTX Recovery Trust, the entity supervising the distribution of Crypto Exchange bankruptcy funds, announced a third distribution tranche for creditors, worth around 1.6 billion dollars.
According to an announcement on Friday, the distribution is scheduled for September 30 and the creditors should receive funds in their accounts within three working days following the date of payment.
The third distribution includes a payment of 6% for complaints from DOTCOM customers, a distribution of 40% for American claims for customer rights and a distribution of 24% for general -guaranteed general complaints and complaints for the loan of digital assets. Convenience complaints will receive a reimbursement of 120% as part of the September payment.
The FTX recovery trust began to reimburse the creditors in February with a payment of $ 1.2 billion, and followed it with a distribution of $ 5 billion in May. The trust contains up to $ 16.5 billion in assets for its creditors and former customers.
The collapse of the FTX exchange in 2022 sent shock waves around the world of cryptography and in -depth the market of crypto bears which started at the beginning of this year. Traders and investors continue to monitor the reimbursements of the FTX Recovery Trust for possible impacts on the cryptographic markets.
In relation: Kroll faces a collective appeal because FTX creditors allege daily scam emails
The former CEO of the FTX, Sam Bankman, called on his conviction in November
In November 2023, SAM “SBF” Bankman Fried, founder and former CEO of FTX, was found guilty of seven charges, including a wire fraud, a thread fraud conspiracy, a securities fraud, a fraud conspiracy on raw materials and a money laundering plot.
Freed Bankman was sentenced to 25 years in prison in March 2024. J. Lewis Kaplan, who supervised the trial and sentenced to Freed Bankman, characterized the collapse of the exchange and the role of SBF in implosion as a “serious” crime which justified decades behind bars.
https://www.youtube.com/watch?v=uwaz_iepmqs
Bankman Fried lawyers should appeal his conviction in November, arguing that he had not received a fair trial because he was supposedly guilty.
Lawyers also argued that the FTX was never insolvent and always had the funds to comply with its obligations and reimburse customers and creditors.
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