Cointelegraph: FTX creditors will not receive repayments by end of September

According to crypto-focused media outlet Cointelegraph, rumors that the FTX bankruptcy estate will start reimbursing creditors and customers on Sept. 30 are false, as the reimbursement plan hasn't received court approval. The next U.S. court hearing for the restructuring plan is set for Oct. 7, overseen by Judge John T. Dorsey. If approved, claimants under $50,000 may receive distributions by the end of 2024, while larger claims could be delayed until early 2025. Recently, FTX has come under fire for failing to inform creditors in advance about its decision to allocate up to $230 million of government-held FTX-related funds to specific shareholders.