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- 🎉 A Warm Welcome to Dr.Han on Gate Square!
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📅 July 3, 7:00 – July 9,
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🔹Follow Gate_Square
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FTX creditor Sunil: FTX will repay on 3/25, and half of the creditors have already resold their claims.
FTX's well-known creditor Sunil Kavuri stated that FTX's repayment plan will take place on March 25, 2025. FTX's cash assets will reach $13 billion by then, while FTX's investment and litigation recovery assets may be $5-7 billion.
(FTX is going to repay! Distribution is expected to start in January 2025, please pay attention to the KYC verification notice at any time)
Note:
"VC port" may refer to the "Venture Capital portfolio" of FTX or its affiliated entities. This includes the equity or investment of FTX or its related entities in various startups or projects, typically as part of its broader venture capital activities.
The valuation range of "$5 billion to $7 billion" refers to the estimated recoverable value of FTX's venture capital investments and related assets, which are considered part of the overall asset pool for the repayment of creditors. These assets may include holdings in cryptocurrency startups, blockchain projects, or other investments made during FTX's operation. These assets will be considered along with the potential recovery amount from litigation as additional sources of funds for the repayment of outstanding claims.
The 'FTX Disputed Claims Reserve' has $6.5 billion. This refers to a portion of funds specifically reserved for handling claims that have not been immediately approved for distribution, which are temporarily deferred due to unresolved disputes. Such disputes may arise for various reasons, such as disagreements on the validity, amount, or priority of the claims. There is currently no related allocation.
And on March 25, 2025, the distribution of $6.5 billion in cash (Stable Coin is also an option according to legal documents) will begin. Of this, $3.25 billion in debt has already fallen into the hands of debt buyers, leaving only half of the original FTX clients holding the debt.
This article FTX creditor Sunil: FTX will repay on 3/25, 2025, and half of the creditors have been transferred.