<ul><li>Advisers managing the bankruptcy of FTX are preparing to distribute $5 billion to the company’s creditors, marking the second payout this year.</li><li>The first round of repayments in mid-February benefitted customers in the 'Convenience Class' with claims of $50,000 or less, receiving full repayment along with 9% annual interest from November 2022.</li><li>FTX distributed $7 billion in the initial phase, with the upcoming $5 billion distribution scheduled to begin on May 30 through Bitgo or Kraken.</li><li>While the recovery process could potentially reach $16.5 billion as assets are being sold off, customers will be repaid their owed amounts in cash without benefiting from the subsequent rise in cryptocurrency prices.</li></ul>

FTX Set for $5 Billion Second-Phase Distribution Following $7 Billion Payout

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