FTX Recovery, Disbursement, and FTT Price: What's the Deal?

A breakdown of the FTX Recovery Trust's upcoming disbursement, the FTT token's recent price surge, and what it all means for creditors.

Alright, let's talk FTX. It's been a wild ride, but there's movement! The FTX Recovery Trust is gearing up for another distribution to creditors, and the FTT token is showing some signs of life. Here’s the lowdown.

FTX Recovery Trust: Show Me the Money!

Mark your calendars, folks! The FTX Recovery Trust is planning its third distribution to creditors on September 30, 2025. Yes, that's a ways off, but progress is progress. This distribution will be for those with allowed claims under the Plan’s Convenience and Non-Convenience Classes who've jumped through all the necessary hoops.

If you're eligible, keep an eye on your chosen distribution service provider – Bitgo, Kraken, or Payoneer. Funds should hit your account within one to three business days after the distribution date.

Who Gets What?

The Recovery Trust is sticking to the waterfall priorities outlined in the Plan. Here’s a quick breakdown:

• Allowed Class 5A Dotcom Customer Entitlement Claims: An additional 6%, bringing the total to 78%.
• Allowed Class 5B U.S. Customer Entitlement Claims: A hefty 40%, pushing the cumulative total to 95%.
• Allowed Classes 6A General Unsecured Claims and 6B Digital Asset Loan Claims: Each gets 24%, for a cumulative 85%.
• Allowed Class 7 Convenience Claims: Hold on to your hats – they're getting a whopping 120%!

FTT Token: A Glimmer of Hope?

Now, let’s talk about the FTT token, the native token of the *ahem* “former” exchange. It's seen some action recently. According to CoinGecko, the FTT price surged by 22% over the past week. It even hit a peak of $1.13 on September 18 before cooling off a bit. Over the week, it bounced between $0.78 and $1.06.

Before you start popping champagne, remember that FTT’s all-time high was $84.18 back in September 2021. That means it's still down nearly 99% from its glory days. Ouch.

What Does It All Mean?

The disbursement news is undeniably positive for creditors. Getting even a portion of what's owed is a win after such a colossal collapse. As for FTT, the recent price jump could be attributed to speculation surrounding the recovery efforts or simply market volatility. It's tough to say for sure.

It's important to keep expectations realistic. While the recovery process is underway, and some tokens are experiencing short term pumps, it's going to be a long road ahead for everyone involved.

Final Thoughts

So, there you have it. Creditors are inching closer to getting some of their funds back, and FTT is… well, it's doing something. Keep an eye on those distribution dates and maybe, just maybe, there’s a light at the end of this very long, very complicated tunnel. And hey, at least it's something to talk about at your next (virtual) water cooler moment, right?