FTX Provides Details On $16 Billion Distribution Timeline For Customers And Creditors
FTX is nearing the completion of its Chapter 11 Plan of Reorganization, with plans to distribute nearly $16 billion owed to users and customers starting in early 2025. The estate expects to finalize agreements with distribution agents by early December and will provide instructions for affected customers to establish approved accounts. The effective date for distributions is anticipated to be announced by the end of December, contingent on a Court Order. Customers must complete KYC verification and submit tax forms to qualify for the initial distribution. Claims traded within 45 days prior to the distribution record date may not be reflected in the claims register. FTX's native token, FTT, is currently trading at $2.36, having surged nearly 10% in 24 hours and showing significant gains over the past two weeks, though it remains over 97% below its all-time high of $84 from September 2021.
