Key Takeaways
- FTX will begin its third round of creditor payouts starting September 30.
- The court approved a $1.9 billion reduction in disputed claims, unlocking more cash.
- More than $6 billion has already been distributed through the first two rounds.
Bankrupt crypto exchange FTX is moving forward with a third round of payouts to creditors, thanks to a recent court ruling that reduced its disputed claims reserve by $1.9 billion.
The ruling lowered the total from $6.5 billion to $4.3 billion, unlocking cash for Class 5, Class 6, and outstanding Convenience Claims.
According to the latest filing, payments are set to begin on Sept. 30.
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Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
His coverage spans major industry events, including the high-profile collapses of FTX, Three Arrows Capital (3AC), and LUNA, offering readers insightful analyses of their regulatory and market implications. Prashant’s technical background enables him to bridge the gap between intricate blockchain technology and its real-world applications, making his work accessible to novices and experts.
Beyond his professional pursuits, Prashant is an avid music enthusiast, often exploring diverse genres to unwind. A sports lover, he has a particular passion for cricket and frequently engages in discussions about the game. His multifaceted interests and sharp journalistic instincts make him a valuable contributor to CCN, where he continues shaping the crypto landscape's narrative.
