The FTX Recovery Trust will distribute $1.6 billion to creditors on Sept. 30. The third tranche includes payouts for Dotcom Customer claims, US Customer Entitlement Claims, General Unsecured Claims, Digital Asset Loan Claims, and Convenience claims at 120% reimbursement. Source: Sunil Kavuri.

FTX’s Recovery Trust has already paid out $1.2 billion in February and $5 billion in May. With up to $16.5 billion in assets allocated to creditors and former customers, the collapse of the FTX exchange in 2022 continues to impact the crypto market. Former CEO Sam Bankman-Fried to appeal his conviction in November.

Sam Bankman-Fried, former FTX CEO, was found guilty on seven charges in November 2023, including fraud and money laundering. Sentenced to 25 years in March 2024, Bankman-Fried will appeal his conviction in November, arguing that FTX had the funds to meet obligations. Magazine: The $2,500 doco about FTX collapse on Amazon Prime.

Read more at Cointelegraph: FTX Recovery Trust Unlocks $1.6B for Creditors This Month