Kraken is Preparing for Next Payments to FTX Creditors

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Kraken has announced that it will begin the next phase of FTX-related creditor repayments on May 30, focusing on claimants with claims over $50,000. This phase follows a February round that addressed smaller claims of $50,000 or less.

In an update on X, FTX creditor representative Sunil mentioned that Kraken has begun sending email notifications to affected users.

The forthcoming payouts will cater to both smaller claimants who have yet to receive full repayment and larger creditors, including institutional investors, who have been anticipating their portion of recovered funds.

FTX initially revealed the distribution plan on February 7, noting that repayments to holders of approved claims in the Convenience Classes would commence on February 18. Payments have been facilitated through Kraken and BitGo. Additionally, Kraken has offered trading fee credits to ensure it does not profit from the repayment process.