FTX, the cryptographic exchange, once prominent, will begin the next cash redistribution round on September 30, the bankruptcy firm said in a statement on Wednesday.
The firm, directed by the founder Sam Bankman-Fried, began paying his creditors earlier this year. FTX has paid almost $ 6.2 billion after obtaining the approval of its redistribution plan by the United States Banking Court.
The old cryptographic giant used to be a pillar in the digital asset ecosystem until a Coindesk exhibition in 2022 resulted in the fall of the Empire of Sam Bankman-Fried.
In 2023, Bankman-Fried was convicted of seven fraud and conspiracy positions, and sentenced to 25 years in prison for orchestrating the fraud of $ 11 billion. Although, according to a report, its sentence could be reduced by 4 years due to “good behavior.”
FTX also said that he has received the court’s approval to reduce his reservation of claims in dispute to $ 4.3 billion of $ 6.5 billion.
The exchange will distribute the cash through Bitgo, Kraken and Payoneer.
Read more: FTX will begin creditors of $ 11.4b in May after the bankruptcy battle of years
