FTX Tokens (FTTs) jumped nearly 14% in the last 24 hours, and surged as the market responded to the latest FTX news. On May 15, FTX announced that the $5 billion creditor distribution would begin on May 30, 2025. The market response coincided with the quest for bounce at top altcoins, despite notable risk-off sentiment.
FTX tokens (FTTs) rose sharply as FTX, which filed for bankruptcy in November 2022, responded to an announcement that it would begin a second phase of creditor payments.
The FTT price surged 14% to a high of $1.33 as the top coin appeared to bounce back after making profits earlier in the day.
The benefits were brought as FTX announced that a $5 billion distribution to creditors would begin on May 30, 2025.
Optimism about the FTX Chapter 11 reorganization plan helped FTT recover from the silence seen when FTX implodes.
FTX is set to begin distributing $5 billion creditors
The FTX team, led by administrator John J Ray III, has announced Crypto Exchange’s second creditor distribution.
The May 15th update reveals that the funds for permitted claims from eligible holders will begin to be considered on May 30th, 2025.
FTX distributes more than $5 billion to holders of permitted claims, both in its convenience and non-mandatory class.
According to FTX, eligible creditors have completed their pre-distribution requirements.
These users must also be included in your chosen distribution service provider, BITGO or Kraken.
If everything is in place, creditors should receive a $5 billion share from the platform within 1-3 business days.
John J.Ray III, FTX Recovery Trust Plan Administrator, said:
“These first non-conference class distributions are important milestones for FTX. The range and size of the FTX creditor base makes this an unprecedented distribution process. Today’s announcement reflects the remarkable success of expert recovery and coordination efforts.
FTX token prices will skyrocket
In November 2022, the FTX Token (FTT) experienced a massive sale, with prices plummeting from over $25 to under $1.
Since then, tokens have struggled to get into higher levels of intrusion.
Nevertheless, CoinMarketCap data touched on the record low of $0.75 on April 17, 2025, indicating that FTT prices have increased by more than 70%.
On May 15th, native FTX tokens rose by more than 14%, leading the Daily Gaines list.
I’ve reduced some of the opposite momentum, but the FTX token is above one psychological level.
The 24-hour trading volume will skyrocket $69 million, a 271% increase, but with a market capitalization of over $416 million, we consider the FTT rank the 141st largest cryptocurrency through this measure.
