BCGAME - Free 5BTC Daily Bonus!Following the turbulent collapse of cryptocurrency exchange FTX in 2022, which shook the market and left thousands of creditors with significant losses, there is now a light at the end of the tunnel. Kraken, one of the leading exchanges in the sector, has begun distributing funds to FTX creditors, marking a significant step forward in the process of resolving this complex case.
In a recent development, creditors using Kraken have received confirmation emails about the completion of the onboarding process, meaning that payments are on their way. BitGo, another distributor appointed to assist with the distribution of funds, is also preparing to begin its repayment process soon, although an exact date has not yet been publicly disclosed.
As information The information released so far indicates that creditors with smaller claims, i.e., under $50.000, can expect to receive their payments within 60 days of January 3, 2025. This means that, if everything goes as planned, these creditors should receive their funds by March 3, 2025. However, it is important to note that there is still no set timeline for creditors with larger claims, which exceed the amount of $50.000. More information about these payments is expected to be released soon.
The collapse of FTX was triggered by allegations of fraud and misuse of client funds involving Alameda Research. The move left a profound impact on the cryptocurrency market, generating a wave of uncertainty and concern among investors and users, who saw their assets trapped on the exchange.
It is worth remembering that, in October, FTX achieved a agreement significant settlement with Caroline Ellison, the former head of Alameda Research, related to the sale of all of her assets. As stipulated in the agreement, Caroline Ellison agreed to turn over all of her seized assets to the U.S. government that are related to the criminal case, as well as legal fees related to the bankruptcy of FTX. According to the documentation, Ellison will only be left with some personal assets after the settlement is executed, although the exact value of the assets to be divested was not disclosed.
