FTX Creditor Sunil: FTX to Repay by March 25, 2025, with Half of Claims Already Sold Off
FTX’s prominent creditor, Sunil Kavuri, has stated that FTX’s repayment plan will take place on March 25, 2025. At that time, FTX’s cash assets are expected to amount to $13 billion, while the recovery of FTX’s investments and litigation assets may range from $5 billion to $7 billion.
(FTX is about to repay its debts! Distribution is expected to begin in January 2025, so please stay tuned for KYC verification notifications.)
Note:
“VC port” may refer to FTX or its affiliated entities’ “Venture Capital portfolio.” This includes FTX or its related entities’ equity or investments in various startups or projects, usually as part of its broader venture capital activities.
The valuation range of “$5 billion to $7 billion” refers to the estimated recoverable value of FTX’s venture capital investments and related assets, which are considered part of the overall asset pool for creditor repayment. These assets may include holdings in cryptocurrency startups, blockchain projects, or other investments made during FTX’s operations. These assets will be considered alongside the potential recovery amount from litigation as an additional source of funds for repaying outstanding claims.
The “FTX Disputed Claims Reserve” amounts to $6.5 billion. This refers to a portion of funds specifically reserved for handling claims that have not immediately received approval for distribution due to unresolved disputes. Such disputes may arise for various reasons, such as disagreements over the validity, amount, or priority of the claims. Currently, no related distributions have been made.
On March 25, 2025, distribution of $6.5 billion in cash (with stablecoins also being an option according to legal documents) will commence. Of this amount, $3.25 billion in claims has already been acquired by claim buyers, leaving only half of the original FTX clients holding claims.
