FTX to Start Paying Main Creditors’ Bankruptcy Claims in May

(Bloomberg) — Former cryptocurrency firm FTX will start paying its main creditors at the end of May using a cash hoard of $11.4 billion the company has collected since its shut down.

Although minor creditors, who hold what FTX classified as “convenience claims,” have already started getting payments, the company will make its first payment to the main group of debt holders on May 30, bankruptcy attorney Andrew Dietderich told the judge who recently took over management of the Chapter 11 case.