FTX News: $11.4 Billion Creditor Payouts Scheduled for May

In a significant development for the embattled cryptocurrency industry, FTX, the now-collapsed exchange headed by Sam Bankman-Fried, has announced plans to initiate payments to its creditors. Here’s a closer look at the details of this major financial move.

FTX to Begin $11.4B Creditor Payouts in May

FTX, the collapsed cryptocurrency exchange once helmed by Sam Bankman-Fried, plans to begin paying its main creditors at the end of May. The company has gathered $11.4 billion in cash to distribute to thousands of parties affected by its 2022 bankruptcy, with the first payments to major creditors set for May 30. These include institutional investors and firms that held crypto on FTX’s platform. Smaller creditors with claims below the $50,000 mark have already begun receiving distributions. FTX’s collapse left a financial crater and a trail of frustrated creditors, many of whom expected to be repaid in crypto, not dollars. Since the bankruptcy, the price of Bitcoin (BTC) has more than quadrupled, intensifying frustrations among those waiting for repayment.

FTX to Resume Refunds for Major Creditors from May 30, 2025

After months of waiting, the main creditors of bankrupt crypto platform FTX can finally see the light at the end of the tunnel. The platform has announced that repayments will resume starting from May 30, 2025. This is a highly anticipated announcement, particularly by major investors who were hoping for a return on their frozen assets. FTX has managed to gather $11.4 billion in cash that will be used to compensate creditors for their colossal losses. Those whose claims exceed $50,000, including financial institutions, companies, or large holders, will be prioritized in this new wave of payments.