FTX to start repayments on May 30
FTX is preparing to start repaying claims over $50,000 on May 30, 2023, nearly 27 months after its collapse in November 2022. The company, led by CEO John Ray III, will use part of its $11.4 billion cash reserve to pay major creditors. Bankruptcy attorney Andrew Dietderich mentioned that FTX is dealing with an overwhelming number of claims, estimated at “27 quintillion,” many of which are considered fraudulent or questionable.