FTX Chapter 11: BitGo, Kraken to Handle January 2025 Distributions

FTX’s $12 billion recovery plan begins January 3, 2025. Stablecoin payouts are facilitated through BitGo and Kraken. Initial distributions are expected within 60 days of the effective date. FTX’s court-approved Chapter 11 plan takes effect on January 3, 2025; a major step forward in the exchange’s recovery efforts. FTX will distribute $12 billion in Q1 2025 through BitGo and Kraken. This development suggests a possible renewed interest in FTT tokens, leading to speculation on its price rise. The FTX Debtors today announced that the effective date for its Plan of Reorganization has been set for January 3, 2025, which is also the initial distribution record date for holders of allowed claims in the Plan’s Convenience Classes. Read more here: https://t.co/7Hggm5cTlS — FTX (@FTX_Official) December 16, 2024 FTX to Prioritize Customer Payouts via BitGo and Kraken According to the press release, customers and creditors holding claims under the plan’s The press release states that customers and creditors with claims under the plan’s convenience classes will be the first to receive their initial payouts. These payouts are expected within 60 days afte… The post FTX Chapter 11: BitGo, Kraken to Handle January 2025 Distributions appeared first on Coin Edition .