FTX Bankruptcy: Next Creditor Payout Date Announced Amid $1B Clawback Battle with Genesis Digital Assets

The FTX bankruptcy estate has officially scheduled its next creditor payout distribution date. This critical step in the ongoing Chapter 11 proceedings unfolds concurrently with a major legal challenge. Genesis Digital Assets, a prominent Bitcoin mining firm, is actively contesting a clawback lawsuit filed by the FTX debtors seeking to recover approximately $1 billion. The lawsuit alleges that funds were unlawfully extracted from the FTX platform prior to its collapse. Genesis Digital Assets, co-founded by former FTX CEO Sam Bankman-Fried, disputes these claims. This legal confrontation introduces significant complexity into the asset recovery and redistribution process for FTX creditors. The announcement of a concrete payout date signals progress in the lengthy bankruptcy case, offering a timeline for affected users and institutional creditors. However, the outcome of the high-stakes litigation with Genesis Digital Assets could substantially impact the total funds available for eventual distribution to all FTX claimants.