FTX, the bankrupt cryptocurrency exchange, is under scrutiny as users report over $2.2 billion in disputed claims, raising serious concerns about the fairness and transparency of the ongoing repayment process.
$2.2 Billion in FTX Claims Still Disputed
Despite beginning its second round of repayments on May 30, where over $5 billion in digital assets were returned to creditors, issues persist. In the first phase, $1.8 billion was repaid. However, according to the FTX Creditor and Customer Ad-Hoc Committee, an estimated $2.2 billion worth of claims still remain unresolved.
On June 11, committee member Sunil shared updates on X (formerly Twitter), noting:
“Current allowed claims: $7.5B.Total estimated allowed claims: $10.6B.30% of allowed claims are disputed—legit claims will be allowed.”
He added that FTX currently holds $6.5 billion in reserves for upcoming distributions.
Cross-Border Repayments Expand with Payoneer
In a key update, FTX has added Payoneer as a repayment partner, alongside BitGo and Kraken, to distribute funds to creditors. Payoneer supports cross-border payments in over 190 countries, improving reach for retail customers in eligible regions.
However, countries like China, Russia, Nigeria, and Egypt remain excluded from repayment, delaying future disbursement timelines until a compliant payment provider is found for these regions.
KYC Verification Issues Trouble FTX Creditors
A growing number of users are raising concerns about FTX’s KYC (Know Your Customer) process, which many say has become unnecessarily strict and difficult to complete.
One user, Sal Wals, posted:
“I’ve been asked for multiple evidence of my source income. I feel like I’m on trial.”
Others have echoed similar concerns, citing delays and a lack of response from support.
What’s Next for FTX Creditors?
The ongoing issues—disputed claims, KYC bottlenecks, and cross-border distribution limitations—highlight critical gaps in FTX’s global repayment strategy.While some investors remain optimistic about a potential liquidity boost if repayments resume smoothly, many continue to question the platform’s transparency and governance in handling creditor claims.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed