- FTX Token (FTT) has jumped practically 14% previously 24 hours, surging because the market reacts to the most recent FTX information.
- On Could 15, FTX introduced its $5 billion creditor distribution will start on Could 30, 2025.
- Market response aligned with high altcoins’ quest to bounce regardless of notable risk-off sentiment.
The FTX Token (FTT) rose sharply because the crypto market reacted to an announcement that FTX, which filed for chapter in November 2022, will quickly start the second part of its creditor funds.
As high cash seemed to bounce after paring features earlier within the day, FTT value spiked 14% to interrupt to highs of $1.33.
The features got here as FTX introduced that the $5 billion distribution to collectors will begin on Could 30, 2025.
Optimism round FTX’s Chapter 11 reorganization plan has helped FTT get well from lows seen when FTX imploded.
FTX set to start $5 billion creditor distribution
The FTX crew, led by administrator John J Ray III, has introduced the crypto trade’s second creditor distribution.
An replace on Could 15 revealed that funds for allowed claims of eligible holders will begin flowing into accounts on Could 30, 2025.
FTX will distribute over $5 billion to holders of allowed claims, each in its Comfort and Non-Comfort Courses.
In line with FTX, eligible collectors are those who have accomplished pre-distribution necessities.
These customers must also have onboarded with the chosen distribution service suppliers, BitGo or Kraken.
If all is so as, collectors ought to obtain their share of the $5 billion from the platforms inside 1 to three enterprise days.
John J.Ray III, FTX Restoration Belief plan administrator, stated:
“These first non-convenience class distributions are an important milestone for FTX. The scope and magnitude of the FTX creditor base make this an unprecedented distribution process, and today’s announcement reflects the outstanding success of the recovery and coordination efforts of our team of professionals. Our focus remains on recovering more for creditors and resolving outstanding claims.”
FTX Token value soars
In November 2022, the FTX Token (FTT) skilled an enormous sell-off, with the worth plummeting to underneath $1 from above $25.
Since then, the token has struggled to interrupt increased.
Regardless of this, knowledge from CoinMarketCap exhibits FTT value spiking by greater than 70% since touching an all-time low of $0.75 on April 17, 2025.
On Could 15, the native FTX token rose by greater than 14% to high the each day gainers checklist.
Whereas it has shed a number of the upside momentum, FTX Token stays above the psychological $1 stage.
A 24-hour buying and selling quantity of $69 million represents a 271% surge, whereas market cap stands at over $416 million to see FTT rank because the 141st largest cryptocurrency by this measure.
