FTX Recovery Trust to Distribute Over $5 Billion to Creditors
The FTX Recovery Trust will distribute over $5 billion to creditors starting Friday, with funds arriving within three business days through BitGo and Kraken.
- This marks the second major repayment round after FTX's collapse.
- The first round on February 18 returned about $7 billion to creditors with claims under $50,000.
- Recent distributions will be in stablecoins, providing immediate on-chain liquidity.
- Analysts at Coinbase noted that this wave of repayments could positively impact the crypto market.
- There is growing optimism in crypto markets due to a rally in major assets and political clarity on regulation.
- Institutional investors may feel more confident reinvesting incoming funds as U.S. legislation progresses.