FTX從5月30日開始向債權人分配超過$ 5B

第二階段還款是在初始分銷的12億美元之後，旨在將資金退還給受交易所2022年崩潰影響的用戶

FTX, the bankrupt cryptocurrency exchange, is set to distribute over $5 billion to creditors starting May 30, 2025, as part of its Chapter 11 bankruptcy plan. This second phase of repayments follows a $1.2 billion initial distribution and aims to return funds to users affected by the exchange’s 2022 collapse, with some creditors receiving up to 120% of their claims.

破產的加密貨幣交易所FTX將從2025年5月30日開始向債權人分配超過50億美元，作為其第11章破產計劃的一部分。第二階段的還款階段是在初始分銷的12億美元之後，旨在將資金退還給受交易所2022年倒塌影響的用戶，一些債權人收到了其索賠的120％。

FTX's Bankruptcy Recovery Plan

FTX的破產恢復計劃

FTX will begin its second wave of creditor repayments on May 30, 2025, distributing more than $5 billion in recovered funds. This follows the first phase in February 2025, which paid out $1.2 billion to creditors with claims under $50,000. The FTX Recovery Trust, led by plan administrator John J. Ray III, has described this as an “unprecedented distribution process” due to the scale and complexity of the creditor base.

FTX將於2025年5月30日開始其第二波債權人還款，分配超過50億美元的收回資金。這是在2025年2月的第一階段之後的，該階段向債權人支付了12億美元，索賠低於50,000美元。由計劃管理員約翰·J·雷三世（John J. Ray III）領導的FTX恢復信託基金（FTX Recovery Trust）將其描述為由於債權人基礎的規模和復雜性，這是“前所未有的分銷過程”。

The bankruptcy estate has recovered between $14.7 billion and $16.5 billion, enough to repay 98% of creditors at least 118% of their claim values as of November 2022, when FTX filed for bankruptcy.

截至2022年11月，FTX申請破產時，破產遺產已回收在147億至165億美元之間，足以償還98％的債權人索賠價值的118％。

The repayments will be facilitated by crypto platforms BitGo and Kraken, with funds expected to reach eligible creditors within one to three business days. Four creditor groups will receive distributions, with payouts ranging from 54% to 120% of their holdings' value at the time of FTX’s collapse.

加密平台Bitgo和Kraken將促進還款，預計資金將在一到三個工作日內接觸到合格的債權人。四個債權人團體將獲得分配，在FTX倒閉時，支出範圍從其持股價值的54％到120％不等。

For instance, creditors in Class 5, including lenders and trading partners of Alameda Research, will receive 54% to 72%, while those with intercompany claims could see up to 120%.

例如，包括貸方和阿拉米達研究的貿易夥伴在內的5級債權人將獲得54％至72％的債權人，而有公司間索賠的債權人將獲得高達120％的債權人。

Creditors Reinvest in Crypto

債權人重新投資加密

Nearly 80% of FTX creditors who received repayments in the first phase have reinvested their funds into cryptocurrencies, particularly Bitcoin and altcoins like Solana, according to data from NFT Evening, observed as of April 2025.

根據NFT晚上的數據，將近80％的FTX債權人將其資金重新投資於加密貨幣，尤其是索拉納（Solana），例如Solana等替代幣。

This reinvestment trend signals strong confidence in the crypto market's recovery, considering FTX's collapse triggered a crypto winter that saw Bitcoin's price drop to $16,000 in November 2022.

考慮到FTX的崩潰引發了一個加密冬季，這種再投資趨勢表明對加密貨幣市場的複蘇有強烈的信心，這使比特幣的價格在2022年11月下降到16,000美元。

By May 2025, Bitcoin BTC trades at approximately $104,000, highlighting the significant market rebound creditors missed due to repayments being calculated at 2022 valuations.

到2025年5月，比特幣BTC的交易價格約為104,000美元，突出了由於2022年估值計算的還款，因此遺失了重大的市場反彈債權人。

However, not all creditors are satisfied. The “dollarization” process, which assigns claims a dollar value based on November 2022 crypto prices, has sparked debate. For example, Bitcoin was valued at $20,000 when FTX collapsed, meaning creditors receive fiat equivalents far below current market values. Solana SOL, a major holding in FTX's portfolio, was priced at $17 in 2022 but now trades near $170, amplifying losses for some creditors.

但是，並非所有債權人都滿意。根據2022年11月的加密價格，“美元化”過程分配了索賠價值，引發了辯論。例如，當FTX倒塌時，比特幣的價值為20,000美元，這意味著債權人獲得的菲亞特等效因素遠低於當前市場價值。索拉納·索爾（Solana Sol）是FTX的投資組合中的主要股份，在2022年的價格為17美元，但現在交易接近170美元，對某些債權人的損失擴大了。

Challenges in the Repayment Process

還款過程中的挑戰

The repayment process has faced hurdles, including a June 1, 2025, deadline for nearly 400,000 creditors to complete Know Your Customer (KYC) verification. Approximately 392,000 users risked losing $2.55 billion in claims due to incomplete KYC, though the deadline was extended from March 3 to provide relief. Technical issues with the KYC portal have also frustrated users, prompting guidance from FTX's support team to reapply via email and the support portal.

還款流程已面臨障礙，包括2025年6月1日，截止日期為近40萬債權人，以了解您的客戶（KYC）驗證。由於KYC不完整的KYC，大約有392,000名用戶可能會失去25.5億美元的索賠，儘管截止日期從3月3日延長以提供救濟。 KYC門戶網站的技術問題也使用戶感到沮喪，這促使FTX支持團隊的指導通過電子郵件和支持門戶重新申請。

The $5 billion distribution could inject liquidity into the crypto market, which will potentially boost Bitcoin and altcoin prices. However, analysts remain cautious, noting that trust issues and market dynamics may temper bullish expectations.

這筆50億美元的分銷可能會將流動性注入加密貨幣市場，這可能會提高比特幣和Altcoin的價格。但是，分析師仍然謹慎，指出信任問題和市場動態可能會緩解看漲期望。