FTX Restart and Liquidation Progress

Started distributing $5 billion to qualifying creditors through platforms like BitGo and Kraken, with 74% of customers receiving repayments

FTX Recovery Trust announced that over $5 billion would be distributed to creditors on May 30, 2025.

Key amount: $5 billion, second distribution

Announced that repayments would begin on May 30, 2025, to major creditors, based on the value of cryptocurrencies in 2022.

Key amount: $11.4 billion

It was reported that customers with claims below $50,000 would begin receiving repayments in early 2025.

Key event: small claim compensation began

FTX announced that almost all customers would recover their funds, marking two years since the bankruptcy.

Key event: customer repayment plan announced

FTX decided to liquidate to repay customers in full, with lawyer Andy Dietrich stating that the cost of restarting was too high.

Key event: decision to liquidate

FTX discussed with three bidders about the restart plan, expected to be decided by mid-December 2023.

Key event: negotiation stage

FTX submitted a restructuring plan, proposing the possibility of restarting the exchange and providing new exchange equity as compensation to customers.

Key event: submission of restructuring plan

FTX considered using creditor funds to support the restart, still in early stage discussions.

Key event: consideration of using customer funds

John R. Reed, new CEO of FTX, announced the exploration of the possibility of restarting the exchange, establishing a task group to assess feasibility.

Key figure: John R. Reed