FTX's Generous Handout: Who Knew Bankruptcy Could Be So Profitable? 💸

Ah, the grand spectacle of FTX, a veritable circus of finance! 🎪 With a flourish, they have embarked on their second act, distributing a staggering $5 billion to those brave souls holding claims under their illustrious Chapter 11 Plan of Reorganization. Who knew that bankruptcy could be so generous? It’s like finding a ten-dollar bill in an old coat pocket—unexpected and delightful!

Now, dear claimants, if you’ve followed the pre-distribution steps (and let’s be honest, who hasn’t?), you can expect your shiny new funds to arrive within one to three business days from May 30. Just in time for your next existential crisis! 🥳

But wait, there’s more! The FTX payout is not just a free-for-all; oh no! It follows a meticulously crafted priority order, as laid out in FTX’s Plan of Reorganization. It’s like a game of musical chairs, but with money! 🎶

Allowed Class 5A Dotcom Customer Entitlement Claims are basking in a 72% distribution of their claims. Not too shabby, eh?
Meanwhile, the Allowed Class 5B U.S. Customer Entitlement Claims are getting a modest 54%. A little less, but hey, it’s still something!
For the Allowed Class 6A General Unsecured Claims and Class 6B Digital Asset Loan Claims, the distribution rate stands at a respectable 61%. They’re not left out of the fun!
And let’s not forget the Allowed Class 7 Convenience Claims, who are laughing all the way to the bank with a whopping 120% payout. Talk about a sweet deal! 🍭

This delightful array of distributions reflects the hierarchy and terms set out in the grand tapestry of FTX’s financial saga. So, grab your popcorn and enjoy the show, folks! 🎥

FTX’s Generous Handout: Who Knew Bankruptcy Could Be So Profitable? 💸

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