The post FTX Sends Fund Distribution Emails to Creditors, $345M in Claims Still Unverified appeared first on Coinpedia Fintech News
In a recent development, Sunil, the representative of FTX creditors, in a latest X post shared that FTX has sent emails to creditors with less than $50,000 to inform them of the initial allocation of funds.
FTX Claims
— Sunil (FTX Creditor Champion) (@sunil_trades) February 8, 2025
FTX are notifying claims <$50k via email
– Onboard with Distribution Service provider
– Creditors forego right to receive distributions directly from FTX
– Creditors directed distributors to pay their distribution
– FTX has credited the Distribution Service… pic.twitter.com/y8RLuvXD8v
He shared that FTX is notifying creditors with claims under $50,000 via email, providing them with information on how to onboard with the Distribution Service provider. These creditors will forgo the right to receive payments directly from FTX and will instead have their distributions paid through the distributors, Bitgo or Kraken. Notably, FTX has already credited the distributors with the initial distribution funds.
However, creditors with less than $50,000 still have about $345 million in claims that have not completed KYC certification.