FTX to begin payouts on July 31

FTX has announced that the record date for its next round of creditor payments is set for June 16, with actual distributions scheduled to begin on July 31. Eligible recipients include approved FTX claim and equity holders, with payments to preferred stock holders following the same schedule. Before the payout, creditors must complete KYC verification, submit tax documents, and register an account with BitGo, Kraken, or Payoneer. The company also stated that holders of approved NFT customer claims can begin the distribution process on June 30. Furthermore, FTX has submitted a revised plan to the court to reduce its disputed claims reserve by approximately $600 million, from $2.4 billion to $1.8 billion. If approved, the freed-up cash will be used to fund the next round of payments.