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FTX to distribute $1.6B to creditors on September 30
Bankrupt crypto exchange begins major repayment phase, signaling potential liquidity boost for digital assets.
FTX, the cryptocurrency exchange that collapsed in November 2022, will distribute $1.6 billion to creditors on September 30.
The payment represents part of ongoing bankruptcy proceedings following FTX’s failure amid fraud allegations against founder Sam Bankman-Fried. The exchange’s collapse left over $8 billion in customer funds initially unaccounted for.
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