FTX Sends Fund Distribution Emails to Creditors, $345M in Claims Still Unverified

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.

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.