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Is the Claim of $16 Billion About FTX True? Creditor Responded - Coin Bulletin
Sunil, one of FTX creditors, blamed Aixbt due to the misinformation spreading on social media.
It is stated that Aixbt claims that FTX will make a cash distribution of 16 billion dollars within 60 days as of January 3rd. However, Sunil stated that these information do not reflect the truth and FTX does not support such a payment plan due to its current financial situation.
FTX clarifies the allegations
According to Sunil's statement, FTX currently has only 13 billion dollars in cash reserves and is expected to reach 14 billion dollars by March. However, it is stated that FTX has applied to hold about 6.5 billion dollars. This means that a distribution of approximately 6.5 to 7.5 billion dollars can be made in the first payment tranche.
Sunil also mentioned that FTX has set aside a reserve of 7 billion dollars for controversial debts and indicated that this amount will not be distributed initially. Approximately 7 billion dollars is planned to be distributed in March 2025, and the remaining portion of this amount will be distributed after resolving the controversial debts.
According to Sunil, FTX's recovery process will continue for a few more years and the completion of the remaining assets could take 2 to 3 years. Sunil stated that this process could be supported by 5 to 7 billion dollars of assets from VC portfolio and the lawsuits filed.