BitGo
December 16, 2024
BitGo Unicorn News - December 16, 2024
FTX Trading Ltd. has announced a structured plan to facilitate bankruptcy payouts in stablecoins via BitGo and Kraken. The process, set to begin in early 2025, aims to repay creditors and customers as part of its Chapter 11 proceedings, with up to $16.5 billion allocated for distribution.
() Introduction
() FTX to Allow Bankruptcy Payouts via BitGo and Kraken
FTX Trading Ltd. has unveiled a structured plan to begin bankruptcy payouts in stablecoins through BitGo and Kraken. Scheduled to start in early 2025, the initiative is part of the company's Chapter 11 proceedings, aimed at repaying creditors and customers. With up to $16.5 billion earmarked for distribution, the plan seeks to streamline reimbursements using secure digital asset platforms.
Sources
1 https://biztoc.com/x/3e4d27d353ade381
2 https://biztoc.com/x/5ad7eb670cc840d2
3 https://decrypt.co/296842/ftx-return-funds-customers-early-2025
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