BitGo
February 19, 2025
BitGo Unicorn News - February 18, 2025
Creditors of the bankrupt crypto exchange FTX have started receiving payouts through BitGo and Kraken, with an initial distribution of $1.2 billion. This marks the beginning of the payout process under FTX's Chapter 11 Plan, targeting claims under $50,000 with 9% annual interest accrued since November 2022.
() Introduction
() FTX Creditors Receive $1.2 Billion in Payouts Through BitGo and Kraken
BitGo is facilitating the secure distribution of $1.2 billion in payouts to FTX creditors, marking a significant step in the exchange’s bankruptcy resolution. As a key custodian in the process, BitGo ensures that recovered assets are safeguarded and efficiently distributed, reinforcing its role as a trusted provider of institutional-grade custody solutions in the crypto industry.
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