In a stark contrast to Sam Bankman-Fried‘s assertions last January, recent developments suggest FTX customers face a long wait for potential repayments.
What Happened: TV host Ran Neuner has shed light on the protracted timeline for FTX distributions, which are now expected to extend well into 2024 and possibly 2025.
According to Neuner, a crucial court hearing is scheduled for Oct. 7 to confirm FTX’s Chapter 11 reorganization plan.
If approved, this will set the stage for repayments to begin.
However, distributions would only start within 60 days of the plan becoming effective, and initially only for claimants owed less than $50,000.
Larger claimants may not see distributions until Q1 2025 at the earliest.
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