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FTX Recovery Trust to distribute about $900M in next creditor payment

The fifth distribution is set to begin July 31, with convenience claims under $50,000 slated for 120% reimbursement and larger claims receiving 103% to 105%.

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The FTX Recovery Trust and the defunct exchange’s estate said its next creditor payment will start July 31, targeting claimants in the recovery plan’s “convenience and non-convenience classes,” according to Cointelegraph.

The trust plans to distribute about $900 million, with eligible creditors able to receive funds through BitGo, Kraken or Payoneer accounts within one to three business days after July 31.

Cointelegraph reports that convenience claims under $50,000 are expected to receive a 120% reimbursement, while other eligible creditors are set to receive a distribution in the range of 103% to 105%.

The payment will mark the fifth distribution effort, after prior rounds including a March distribution of $2.2 billion. Cointelegraph also notes that the trust has distributed about $10 billion since FTX filed for bankruptcy in November 2022, amid a crypto market downturn.

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