FTX Begins Fund Distribution for Approved Claimants: Key Dates and Details Unveiled

On February 19th, COINOTAG reported that FTX has commenced the initial disbursement of funds to eligible claimants as part of the Chapter 11 Reorganization Plan. Customers can anticipate receiving their reimbursements within a timeframe of 1 to 3 business days. The forthcoming record date for future distributions is scheduled for April 11, 2025, which pertains to holders of both Class 5 and Class 6 claims under the FTX Chapter 11 Plan’s criteria. For those claims categorized as Convenience Claims that have received approval post the initial record date, the same April date applies for their next potential disbursement. Furthermore, the subsequent round of distributions is projected to initiate on May 30, 2025. This structured approach aims to streamline the recovery process for impacted customers while adhering to regulatory requirements.