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Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?
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Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?

FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

Ronaldo Marquez
Ronaldo Marquez
3 days ago
2 mins read
FTX

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The FTX Recovery Trust is gearing up for its third distribution to creditors affected by the exchange’s significant collapse, with payments set to commence on September 30, 2025. 

FTX Trust Confirms Payments To Eligible Creditors

According to the official statement, this distribution will be available to holders of allowed claims categorized under the Plan’s Convenience and Non-Convenience Classes who have completed the necessary pre-distribution requirements. 

Eligible creditors can expect to receive their funds through their chosen distribution service provider—either Bitgo, Kraken, or Payoneer—within one to three business days following the distribution date. 

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In this upcoming distribution, the Recovery Trust will adhere to the waterfall priorities outlined in the Plan. Specifically, Allowed Class 5A Dotcom Customer Entitlement Claims will receive an additional 6%, bringing their cumulative distribution to 78%.

Meanwhile, Allowed Class 5B U.S. Customer Entitlement Claims will see a substantial 40% distribution, elevating their cumulative total to 95%. 

Additionally, Allowed Classes 6A General Unsecured Claims and 6B Digital Asset Loan Claims are each set to receive a 24% distribution, which raises their cumulative distributions to 85%. Interestingly, Allowed Class 7 Convenience Claims will benefit from a major 120% distribution.

FTT Token Soars 22%

The native token of the failed exchange, FTT, has experienced notable growth . According to data from CoinGecko, FTT’s price has surged by 22% over the past seven days. 

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The token reached a peak of $1.13 on September 18 before experiencing a slight retracement. Over the week, FTT has fluctuated between $0.78 and $1.06. Despite this recent rally, it’s important to note that FTT’s all-time high of $84.18, achieved in September 2021, remains nearly 99% above its current price levels.

FTX
The daily chart shows FTT’s price surge coupled with increased volatility. Source: FTTUSDT on TradingView.com

Featured image from DALL-E, chart from TradingView.com 

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Ronaldo Marquez
Ronaldo Marquez

Ronaldo Marquez

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

Read more

Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.

One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.

Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.

Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.

However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.

Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.

With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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