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Bankrupt crypto exchange to repay $2.2B on March 31 [Yahoo! Finance]
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Follows 2022 collapse and SBF's 25-year fraud sentence Bankrupt crypto exchange FTX is set to distribute roughly $2.2 billion to creditors at the end of March, marking another major step in its long-running recovery process following one of the industry's most dramatic failures. The FTX Recovery Trust said the funds will be distributed on March 31 as part of the exchange's Chapter 11 restructuring plan, with payments expected to arrive within one to three business days via BitGo, Kraken or Payoneer. The latest payout represents the fourth round of distributions since FTX filed for bankruptcy in November 2022, when the once-dominant exchange, valued at $32 billion at its peak, collapsed almost overnight. The implosion wiped out billions in customer funds and triggered a broader crypto market downturn. Read More Discount chain closes over 75 stores and raises prices Sam Bankman-Fried, the exchange's founder and former CEO, was once seen as the face of the crypto industry in
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