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FTX to Start Next Round of Creditor Repayments on Sept. 30
The former crypto giant used to be a mainstay in the digital asset ecosystem till a CoinDesk expose in 2022 resulted in the downfall of Sam Bankman-Fried's empire.
Updated Jul 24, 2025, 6:38 a.m. Published Jul 24, 2025, 5:18 a.m.
What to know:
- FTX has repaid nearly $6.2 billion after getting approval for its redistribution plan by the U.S. bankruptcy court.
- In 2023, Bankman-Fried was convicted on seven counts of fraud and conspiracy, and sentenced to 25 years in prison for orchestrating the $11 billion fraud
FTX, the once prominent crypto exchange, will begin the next round of cash redistribution on Sept. 30, the bankrupt firm said in a statement on Wednesday.
The firm, which was led by founder Sam Bankman-Fried, started paying back its creditors earlier this year. FTX has repaid nearly $6.2 billion after getting approval for its redistribution plan by the U.S. bankruptcy court.
STORY CONTINUES BELOW
The former crypto giant used to be a mainstay in the digital asset ecosystem till a CoinDesk expose in 2022 resulted in the downfall of Sam Bankman-Fried's empire.
In 2023, Bankman-Fried was convicted on seven counts of fraud and conspiracy, and sentenced to 25 years in prison for orchestrating the $11 billion fraud. Although, according to a report, his sentence could be cut by 4 years due to "good conduct."
FTX said that it has received court approval to reduce its disputed claim reserve to $4.3 billion from $6.5 billion.
The exchange will distribute the cash through BitGo, Kraken, and Payoneer.
Read more: FTX to Begin $11.4B Creditor Payouts in May After Years-Long Bankruptcy Battle
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Що варто знати:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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