{"id":22539,"date":"2025-03-30T10:28:14","date_gmt":"2025-03-30T07:28:14","guid":{"rendered":"https:\/\/forklog.com\/en\/ftx-to-commence-compensation-payments-exceeding-50000\/"},"modified":"2025-03-30T10:28:14","modified_gmt":"2025-03-30T07:28:14","slug":"ftx-to-commence-compensation-payments-exceeding-50000","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ftx-to-commence-compensation-payments-exceeding-50000\/","title":{"rendered":"FTX to Commence Compensation Payments Exceeding $50,000"},"content":{"rendered":"<p>The liquidators of the bankrupt exchange FTX will begin processing compensation claims of $50,000 and above starting May 30. This was reported by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-03-28\/ftx-to-start-paying-main-creditors-bankruptcy-claims-in-may\">Bloomberg<\/a>, citing the firm&#8217;s lawyers.<\/p>\n<p>According to FTX attorney Andrew Dietderich, the funds for these payments will be drawn from the $11.4 billion accumulated since the bankruptcy.<\/p>\n<p>The distribution &#8220;will take time.&#8221; The lawyer noted that the company has received &#8220;27 quadrillion&#8221; claims for compensation, many of which require additional verification, while &#8220;billions&#8221; are outright false.<\/p>\n<p>Clients awaiting payments receive an additional 9% annual interest on their entitled deposits. According to Bloomberg, the interest rate on FTX accounts is lower, prompting the firm to resolve the compensation issue as swiftly as possible.<\/p>\n<p>In February 2025, the exchange <a href=\"https:\/\/forklog.com\/en\/news\/ftx-initiates-first-wave-of-1-2-billion-creditor-payouts\">allocated<\/a> $1.2 billion for compensating users with assets up to $50,000.<\/p>\n<p>Earlier in March, the liquidators of the cryptocurrency hedge fund Three Arrows Capital <a href=\"https:\/\/forklog.com\/en\/news\/3ac-liquidators-raise-claims-against-ftx-to-1-53-billion\">increased<\/a> their claims against FTX from $120 million to $1.53 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The liquidators of the bankrupt exchange FTX will begin processing compensation claims of $50,000 and above starting May 30. This was reported by Bloomberg, citing the firm&#8217;s lawyers. According to FTX attorney Andrew Dietderich, the funds for these payments will be drawn from the $11.4 billion accumulated since the bankruptcy. The distribution &#8220;will take time.&#8221; [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1300,1236],"class_list":["post-22539","post","type-post","status-publish","format-standard","hentry","category-news-and-analysis","tag-bankruptcy","tag-ftx"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/22539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=22539"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/22539\/revisions"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=22539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=22539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=22539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}