- FTX is set to distribute over $5 billion to creditors starting May 30.
- This distribution is a critical part of FTX's asset recovery strategy.
- Claims will be classified with allocations between 54% and 120%.
FTX's Strategic Move in Asset Recovery
FTX (FTT, Financial), the once-prominent but now-defunct crypto exchange, is taking a decisive step by beginning the distribution of more than $5 billion to its creditors on May 30. This move is not just a mere disbursement but a core element of the company's comprehensive asset recovery plan.
Details of the Distribution Plan
The distribution will involve varied percentages being allocated to creditors, depending on the classification of their claims. These classifications will influence payout percentages, expected to range significantly from 54% to as high as 120%. This structured approach aims to bring some measure of resolution to those impacted by the exchange's downfall.