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FTX Begins Second Round of Repayments, Distributing Approximately $5 Billion: Impacts on the Cryptocurrency Market

2025/06/01 23:26
CoinPost
Written by L.Kikutani
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FTX Begins Second Round of Repayments, Distributing Approximately $5 Billion: Impacts on the Cryptocurrency Market

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The bankrupt cryptocurrency exchange FTX announced on the 30th that it has begun its second round of creditor repayments. This distribution amounts to approximately $5 billion, with former users expected to receive funds within one to three business days. The distribution is being carried out through BitGo and Kraken, starting from May 30 as part of the second phase of the Chapter 11 reorganization plan. FTX's holdings in AI company Anthropic, shares in Robinhood, and substantial holdings of SOL and SUI tokens have enabled 'full repayment' to creditors. However, due to significant rises in the cryptocurrency market, some users had expressed a preference for physical distribution of assets.

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MAGAZINE
Iolite Vol.14

Iolite Vol.14

July 2025 issueReleased on 2025/05/30

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MAGAZINE

Iolite Vol.14

July 2025 issueReleased on 2025/05/30
Interview Iolite FACE vol.14 Charles Hoskinson, founder and CEO of Cardano/Input Output Global PHOTO & INTERVIEW Mariko Mabuchi Special feature: "Considerations on cryptocurrency-related policies in Japan and the US", "Blockchain guide from Japan", "Huge position liquidation occurs at Hyperliquid! A new, unanticipated crisis in decentralized finance", "Sakana AI, a generative AI startup from Japan that is attracting a lot of attention", "Prepare for a recession: correlation between finance and anomalies" Crypto Journey: "Web 3.0 from the perspective of the 'King of Debate'" Interview with Hiroyuki Special series: Virtual Nishi: "Cryptocurrency market trends and key points for interpreting them" Series: Tech and Future Toshinao Sasaki, etc.