FTX prepares second round of refunds: $2 billion will be returned starting May 5.000.

FTX announces a second round of $5.000 billion in repayments starting May 30, continuing the process of compensating creditors following its bankruptcy.

The cryptocurrency exchange platform that collapsed in 2022, FTX, is preparing to start a second round of repayments to its creditors, with an estimated amount of 5.000 billion dollars, which will begin on May 30th. 

This new phase follows the first distribution of payments made in February of this year, when approximately $1.200 billion was returned to creditors with claims under $50.000. 

The announcement of this new round of refunds and reimbursements represents an important step forward in the asset recovery process following the bankruptcy, which left thousands of users and businesses affected. Payments in this second round will be directed to creditors with claims exceeding $50.000., including both institutional clients and suppliers and business partners. 

Overall, the reimbursement process falls within the framework of the plan approved by judicial authorities to ensure the orderly and transparent return of the recovered funds, which amount to more than $11.000 billion in cash. 

A decisive step forward in the return of funds to creditors

The second round of refunds, which FTX plans to begin on May 30, represents a crucial step in the long and complex management of its bankruptcy. 

Following the first phase, which primarily benefited creditors with smaller claims, reimbursement is now being extended to those with claims exceeding $50.000, a group that includes large institutional investors and companies that held assets on the platform. This phase is based on a recovery plan that includes the distribution of approximately $11.400 billion in cash, funds recovered after years of litigation and settlements. 

The importance of this new round lies in the fact that it allows progress toward compensating those affected, who have waited years for the restitution of their assets. However, although the plan calls for repaying all creditors, most will not receive the current value of their claims in cryptocurrency. While the platform has added additional interest, the truth is that Refunds are being calculated in cash, based on the original value held by creditors on the platform at the time of its collapse. in 2022. For holders of cryptocurrencies like Bitcoin and Solana, which have appreciated significantly since then, this means that they will not receive the current equivalent in tokens, but rather the dollar value at that time, which limits the recovery of the true value of your digital assets.

Still, while it does not represent full restitution, this disbursement marks an important step forward in the liquidation and recovery process, offering financial and emotional relief to those affected.

The economic and social impact of the FTX fund return

The $5.000 billion refund since May not only has a direct impact on FTX's creditors but also influences the overall perception of the crypto market and investor confidence. Following the platform's collapse, many users saw their assets locked and faced significant losses, creating uncertainty and distrust in the ecosystem. The execution of these refund rounds helps mitigate that damage by demonstrating that it is possible to recover funds even in complex bankruptcy situations. 

Furthermore, the return of these funds can reactivate financial flows in various sectors linked to cryptocurrencies and the digital economy, promoting the stability and continuity of related projects. In social terms, the restitution of these funds helps alleviate the financial burden on thousands of affected individuals and businesses, allowing them to resume their activities with greater security and predictability.

A survey conducted by the NFTevening platform in February revealed that A large percentage of the platform's creditors expect to receive their refunds to reinvest in cryptocurrencies and digital assets.This highlights growing interest, confidence, and demand in the crypto market, which is being strengthened by the more favorable macroeconomic environment for reinvestment and sustained growth of the digital ecosystem.

With the second round With the scheduled redemption of claims due to end-May, the FTX liquidation process has entered a more advanced stage, although further rounds remain. The platform and its administrators continue to review and validate claims so they can be distributed in subsequent phases. 

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