FTX Creditors Set to Receive Over $5 Billion in Second Payout Round Starting May 30
The FTX Recovery Trust is set to begin distributing more than $5 billion to creditors on May 30, marking the second phase of repayments since the exchange’s collapse. Creditors are divided into five convenience classes, with payouts ranging from 54% to 120% of their claims. John J. Ray III, overseeing the process, has described these distributions as a "major development" in restoring stakeholder funds. Notably, Class 5A claims will recover 72% of their claims, reflecting a significant step toward resolving the fallout from FTX’s downfall. This payout round underscores the ongoing efforts to mitigate losses for affected parties and restore confidence in the cryptocurrency ecosystem.
FTX Creditors to Receive Over $5B in Second Payout Round Starting May 30
The FTX Recovery Trust will begin distributing more than $5 billion to creditors on May 30, marking the second phase of repayments since the exchange’s collapse. Creditors are segmented into five convenience classes, with payouts ranging from 54% to 120% of claims. John J. RAY III, overseeing the process, called the distributions a "major development" in restoring stakeholder funds.
Class 5A claims will recover 72%, while Class 5B receives 54%. Smaller lenders and Alameda Research partners (Classes 6A/B) get 61%, and Class 7 Convenience Claims are prioritized at 120%. The structured repayments reflect FTX’s efforts to navigate one of crypto’s most complex bankruptcies.
Solana, Chainlink, and FTX’s FTT Dominate Crypto Social Media Buzz
Market intelligence firm Santiment reports a surge in social media engagement around select cryptocurrencies, with Solana (SOL), chainlink (LINK), and FTX’s defunct exchange token FTT leading the conversation. The analysis highlights SOL’s particularly strong traction, with discussions spanning technical analysis, price forecasts, and long-term projections through 2040.
Newcomers Nexpace (NXPC) and Lanchcoin (LAUNCHCOIN) also cracked the trending list, alongside stablecoin giant Tether (USDT). The data underscores how speculative fervor and fundamental analysis collide in crypto’s hyperactive social media arena.
