FTX, Issuer of FTT, Begins $900M Fifth Creditor Payout on July 31

FTX, the collapsed exchange behind the FTT token, will begin its fifth creditor distribution of roughly $900 million on July 31, according to the estate's official announcement. The payout marks another step in the bankruptcy process for the exchange that failed in 2022. FTT holders and creditors are expected to receive funds from the estate's asset recovery efforts.