FTX major repayments to begin May 30; BTC claims currently worth just 20% of market price

The FTX estate is set to begin repaying its creditor claims over $50,000 in value on May 30.Creditor repayments could take time given a large volume of likely fraudulent claims, one of FTX’s bankruptcy attorneys said, according to a Bloomberg report. The cryptocurrency claims are valued as of the bankruptcy petition date, November 11, 2022; the price of BTC is currently 5x higher than that value.