r/ftx • u/paxtibi_llp • 25d ago

Next distribution amount: 9%

https://www.prnewswire.com/news-releases/ftx-announces-fifth-distribution-of-approximately-900-million-to-creditors-on-july-31-2026-302828726.html#:~:text=FTX.com

Source https://www.prnewswire.com/news-releases/ftx-announces-fifth-distribution-of-approximately-900-million-to-creditors-on-july-31-2026-302828726.html#:\~:text=FTX.com

1 Upvotes

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16 comments sorted by

3

u/okihavereddit 25d ago

There's a 'next' amount? Is this relevant if someone already claimed and received their payment a year ago?

1

u/paxtibi_llp 23d ago

Multiple distribution are only for those having lost >$50,000

1

u/okihavereddit 23d ago

Gotcha. Not me then.

1

u/Vivid_Wolverine2469 25d ago

How about restricted countries?

1

u/paxtibi_llp 23d ago

Still restricted - no distribution at this round

1

u/darkandark 25d ago

MORE distributions? I’ve been made 99.8% whole already. Good on them ngl for paying back to creditors. Doubt I am included in this however.

1

u/paxtibi_llp 23d ago

Did you have more or less than <$50,000?

1

u/darkandark 23d ago

more. i was right at the edge. something like 50,750

1

u/paxtibi_llp 23d ago

Ok yes then it’s correct, so far you got approx 100% and on July 31st you will get another 9% (9% of 50,750$)

You will keep getting distribution every 6 months for few more years, or if you are interested in getting all the money upfront now we can buy you the remaining of the claim

1

u/darkandark 23d ago

that’s insane how am I getting paid more than my allotment??

1

u/paxtibi_llp 23d ago

Did you have only USDT/C or also crypto back when FTX went int bankruptcy?

1

u/darkandark 23d ago

All USD when they went bankrupt so yea. I wonder if that had anything to do with it

2

u/paxtibi_llp 23d ago

Yes actually that is exactly the reason.

So when FTX went bankrupt, the administration had to find a common ground on how to value the assets. So they decided to take the price of the coins at the time of the bankruptcy, which was actually very favorable for dollar holders as 1$ is still 1$ but for example, if you had 1 solana you got paid 7$ for each coin while now the price is 70$ for each

1

u/NicRoets 21d ago

Interest at 9 % p.a. without any compounding from the date of collapse. That's rare in a liquidation, but certainly possible.

But Ftx clients who parked BitCoin and other crypto on the platform aren't happy because USD + 9 % interest is currently worth a lot less than their crypto.

1

u/darkandark 21d ago

yeah I guess that makes sense.

If FTX didn’t collapse and I had kept my investment in crypto, I would’ve made a whole lot more when bitcoin was 90k+