FTX to Disburse $1.6B in Third Creditor Repayment on Sept 30
FTX will launch its third repayment round on September 30, distributing approximately $1.6 billion to verified creditors via BitGo, Kraken or Payoneer. This FTX repayment covers retail users in the Convenience Class—who have recovered about 120% of on-ledger balances based on the November 11, 2022 valuation—and unsecured creditors (6A/6B), whose cumulative recovery now reaches 85%. US customers will see an additional 40% payout (about 95% total recovery), while international dotcom clients gain 6% more (78% overall). Funded by cash reserves, clawbacks and sales of SOL and SUI assets, this phase marks steady progress in the $16.5 billion asset recovery effort. Creditors must complete verification and confirm payment channels to receive funds within one to three business days. Traders should watch how asset sales and FTX repayment dynamics influence crypto liquidity and sentiment.
Bearish
While FTX’s third repayment of $1.6 billion improves creditor confidence and advances the $16.5 billion asset recovery, it is funded in part by sales of SOL and SUI. The liquidation of these crypto assets increases near-term selling pressure, which is likely to weigh on their prices. Although the repayment process may bolster broader market sentiment over the long term, the immediate impact of additional SOL and SUI supply is expected to be bearish for those tokens.