FTX Creditors Set to Receive Allocations Through Kraken: $5 Billion Payment Round Underway

In a significant development for the crypto community, FTX creditor representative Sunil announced via social media that creditors have successfully received their allocations in Kraken accounts. This follows FTX’s recent move to initiate the second phase of distributions, involving over $5 billion in payments. Eligible creditors can expect to see their funds credited to their accounts within a timeline of one to three business days. This latest round of payouts signifies a crucial step towards the restitution process for impacted stakeholders. The attention now turns to the ongoing management of FTX’s liquidation, as creditors eagerly anticipate further updates and potential future distributions. As the market continues to evolve, the developments surrounding FTX not only resonate with affected parties but also reflect broader trends in institutional cryptocurrency recovery efforts.