FTX Initiates Second Repayment Phase to Creditors Worth 730 Billion Yen

The bankrupt cryptocurrency exchange FTX announced on the 15th that it will commence its second repayment to creditors. Starting from May 30, 2025, it is expected to distribute assets exceeding the total amount of 5 billion dollars (about 730 billion yen).

There are perspectives suggesting that the repayment by FTX could positively impact the market, as former customers might use the funds to repurchase cryptocurrencies.

Eligible creditors are scheduled to receive their funds from distribution service providers Bitgo or Kraken within 1 to 3 business days starting from the 30th.

To receive the distribution, creditors need to log in to the FTX customer portal and undergo customer identity verification...