COINOTAG News on September 30 reports that FTX creditor representative Sunil confirmed a $16 billion distribution being executed today, signaling a major step in the bankruptcy recovery process for FTX creditors.
For large claims (> $50,000), Sunil indicated a cumulative recovery of 78.2%, which incorporates a prior disbursement of 5.7% paid on May 30 and an additional 72.5% component now accounted for in the current distribution.
Specifics for small claims were not fully detailed in the report; however, the representative stated that the distribution ratio for U.S. claimants stands at approximately 40%, per the disclosure.
Aggregating the disclosed scenarios, the announcement cites an overall distribution ratio near 95%, reflecting the current recovery framework communicated by the creditor representative.