FTX to Implement Fifth Repayment Worth JPY 146 Billion on July 31

Initiation of the Fifth Repayment

The bankrupt cryptocurrency exchange FTX announced on the 17th that it will begin its fifth creditor distribution on July 31, based on its Chapter 11 reorganization plan. The total amount is approximately $900 million (equivalent to JPY 146.2 billion), and will be paid through distribution service providers BitGo, Kraken, and Payoneer within one to three business days.

In this distribution, dotcom customers (Class 5A) will receive an additional 9% repayment, bringing their total repayment rate to 105%, and domestic customers in the U.S....