FTX to Begin $2.2 Billion Creditor Repayment by End of March, Some Groups to Recover Over 100%

FTX, the bankrupt cryptocurrency exchange, announced on the 18th that it will commence its fourth distribution to creditors on March 31, under Chapter 11 of the Federal Bankruptcy Code. This distribution will total approximately $2.2 billion (about 350 billion yen). The distribution will be conducted in cash within three business days through FTX's distribution service providers, including BitGo, Kraken, and Payoneer, to the recorded creditors.