Crypto exchange FTX began repaying the major creditors $11.40 billion, guided by the 2022 crypto values despite the substantially higher prices.

  • FTX begins $11.40 billion payout to creditors
  • Creditors will benefit from claims based on November 2022 prices when BTC was valued at 80% less than its current value. 
  • Creditors with claims below $50,000 have received their payments.
  • FTC has billions in fraudulent claims that could delay final distribution
  • While the valuation dates attract controversy, creditors benefit from 118-119% cash payment.

    Crypto exchange FTX has begun repaying claims owed to the major creditors nearly two and a half years after its sudden implosion in November 2022. The embattled company confirmed amassing $11.4 billion for cash distribution to claims above $50,000. 

    The repayment is a critical milestone in the bankruptcy process that traces to November 2022. The crypto exchange co-founded by Sam Bankman-Fried imploded

    Keep reading this article on E-cryptonews.com.

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