The FTX Recovery Trust is set to distribute $4.3 billion to approved claimants on September 30, following a Bankruptcy Court ruling that reduced disputed claims by $1.9 billion. Claimants must meet eligibility criteria, including KYC checks.
Bankruptcy Court approved a $4.3B payout to FTX creditors after reducing disputed claims by $1.9B ahead of the September 30 distribution.
Claimants must pass the August 15 record date with an approved claim status and complete KYC checks to qualify for the upcoming payout.
Creditors from restricted jurisdictions, including China, Russia, Ukraine, and Pakistan, remain excluded from this distribution, totaling $470M in claims.
FTX Recovery Trust is distributing $4.3 billion to approved claimants on September 30. Ensure you meet eligibility criteria for a successful claim.
What is the FTX Recovery Trust Distribution?
The FTX Recovery Trust distribution refers to the planned payout of $4.3 billion to approved claimants following a Bankruptcy Court ruling. This distribution will occur on September 30, 2025, and is contingent on claimants meeting specific eligibility requirements.
How Does the Claim Process Work?
Claimants must complete know-your-customer (KYC) checks and verify their claim status by the August 15 record date. Only those with approved claims will receive funds. The distribution includes holders of Class 5 Customer Entitlement Claims, Class 6 General Unsecured Claims, and remaining Convenience Claims.
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Claimants must have an approved claim status and complete KYC checks by the record date of August 15 to qualify for the distribution.
Claimants from restricted jurisdictions, including China, Russia, Ukraine, and Pakistan, are excluded due to regulatory constraints, totaling around $470 million in claims.
The upcoming FTX Recovery Trust distribution of $4.3 billion is a critical development for creditors. Eligible claimants must ensure they meet all requirements, including KYC checks, to receive their funds. As the situation evolves, staying informed will be essential for all stakeholders.
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Source: https://en.coinotag.com/ftx-recovery-trust-plans-4-3-billion-distribution-to-approved-claimants-on-september-30-amid-ongoing-claim-verification-challenges/