FTX Bahamas repayments to start on Feb. 18

The FTX confirmed its desire to start reimbursements for the Bahamas creditors this month, before the biggest disbursements expected in the first quarter of 2025.

FTX Bahamas will start the creditors of creditors on February 18 via Bitgo, one of its distribution partners selected during bankrupt restructuring audiences. Sunil Kavuri, spokesperson for the largest group of FTX creditors note This individual Bahamas payment request would be capped at $ 50,000.

The reorganization plans approved by the court entered into force from January 3, obliging reimbursements to creditors to start In 60 days. Judicial files have shown that the late Crypto exchange has $ 13 billion payment reserves.

However, the succession filed 50% of this amount for disputed complaints. The total sum allocated to the creditors of the Bahamas is not clear.

Previously based in the Bahamas, the FTX collapsed in 2022 under the direction of its founder, Sam Bankman Fried. The surveys have discovered mismanagement and fraud of companies, which would have been orchestrated by the tycoon of unique cryptography.

Analysts believe that the collapse of the FTX has created a deficit of $ 16 billion. Reorganization administrators, led by the CEO of bankruptcy, John J. Ray III, provide that the efforts to recover assets could extend until 2027.

Meanwhile, Bankman Fried was sentenced to several criminal charges, including fraud, and sentenced to 25 years in prison. He has since allegedly prejudiced legal prejudice, asked for a new trial and his parents would have said research Pardon by President Donald Trump.

The members of the old SBF interior circle, like the old CEO of Alameda Research, Caroline Ellison, received lighter sentences and confiscated wealth won during the FTX.