Market
What will be the primary method used by FTX creditors for distribution by March 2025?
2
Resolution / Starting Odds
Stablecoins • 25%
Fiat currency • 25%
Cryptocurrency other than stablecoins • 25%
Other • 25%
Reports or surveys from FTX, BitGo, or Kraken on distribution methods chosen by creditors
Story
FTX to Distribute $16 Billion to Creditors via BitGo and Kraken, Initial Distribution Expected Within 60 Days of January 3, 2025
Dec 16, 2024, 05:52 PM
FTX has announced that its Chapter 11 plan of reorganization will become effective on January 3, 2025. The company will begin distributing $16 billion to creditors within 60 days of this effective date. The distributions will be handled through BitGo and Kraken, which have been selected as official distribution partners for the bankruptcy payouts. Creditors with claims worth $50,000 or less can expect to receive repayments by early March 2025. The claims portal will allow distributions in stablecoins, providing creditors with options for recovery. This announcement marks a significant step in FTX's efforts to repay its creditors after the collapse of the exchange.
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Similar markets
Other • 25%
Combination of both • 25%
Fiat currency • 25%
Cryptocurrency • 25%
More than $7.5 billion • 25%
$7 billion to $7.5 billion • 25%
$6.5 billion to $7 billion • 25%
Less than $6.5 billion • 25%
51-75% • 25%
0-25% • 25%
26-50% • 25%
76-100% • 25%
Less than $4 billion • 25%
$8 billion to $12 billion • 25%
More than $12 billion • 25%
$4 billion to $8 billion • 25%
No • 50%
Yes • 50%
USDC • 25%
Other • 25%
DAI • 25%
USDT • 25%
Less than 30 days delay • 25%
No significant delay • 25%
More than 60 days delay • 25%
30-60 days delay • 25%
Other • 25%
Sullivan & Cromwell LLP • 25%
Kraken • 25%
BitGo • 25%