🥳 Earning Growth Points can Win an iPhone 16?
🔥 Gate Post Growth Points Summer Lucky Draw Round 1️⃣ 1️⃣ Is Live!
🎁Prize pool over $10,000! Win iPhone 16 Pro Max 512G, exclusive Gate merch, popular tokens & more!
Try your luck now 👉 https://www.gate.com/activities/pointprize?now_period=11
How to earn Growth Points fast?
1️⃣ Go to [Post], tap the icon next to your avatar to enter [Community Center]
2️⃣ Complete daily tasks like posting, commenting, liking, and chatting to earn points
New feature this round: “Fragment Exchange”! Collect fragments to redeem exclusive Gate merch!
100% chance t
BREAKING: FTX to Return $5 Billion to Creditors in Second Major Payout - Brave New Coin
In a major development for cryptocurrency investors affected by one of the industry's largest collapses, the FTX Recovery Trust announced today it will distribute more than $5 billion to creditors on May 30, 2025, marking the second significant repayment to those who lost funds when the exchange imploded in late 2022.
The Trust confirmed this distribution will bring total distributions to approximately $9.7 billion, following an initial $4.7 billion distribution completed in March, according to the official press release from the FTX Recovery Trust
What is the FTX Recovery Trust?
The FTX Recovery Trust was established following the bankruptcy of FTX Trading Ltd. and its affiliated companies in November 2022. The Trust serves as the entity responsible for recovering and distributing assets to creditors after FTX filed for Chapter 11 bankruptcy protection on November 11, 2022
John J. Ray III, who took over as CEO immediately following the collapse, has overseen the recovery process. Ray, known for his previous work handling the Enron bankruptcy, has led efforts to trace and recover assets through a global investigation spanning multiple jurisdictions.
Distribution Format: Mixed Asset Returns
According to the Trust’s press release and previous court filings, the May distribution will include a combination of cryptocurrency and cash. The Trust has indicated it will return assets “in-kind” where possible, meaning creditors may receive the same types of cryptocurrencies they originally held on the exchange
This approach aligns with previous statements from the Trust in bankruptcy court documents filed in the District of Delaware (Case No. 22-11068) that outlined plans to distribute recovered assets in both fiat and cryptocurrency formats
Market Impact Potential
The $5 billion distribution represents a fraction of the overall cryptocurrency market, which currently has a total market capitalization of approximately $2.5 trillion.
Historical precedent from other large cryptocurrency exchange bankruptcies suggests distributions can affect market prices. For example, when the Mt. Gox trustee made significant Bitcoin sales in 2018 to pay creditors, several market analysis firms documented temporary price impacts in the Bitcoin market.
For former FTX customers, the distribution marks another step toward recovery in a process that has continued since the exchange’s collapse in November 2022,