The FTX Recovery Trust has announced a third distribution of funds worth approximately $1.6 billion to creditors of the bankrupt crypto exchange, scheduled for September 30. Following a prior $1.2 billion payout, this distribution is part of an overarching plan to dispense up to $16.5 billion in total assets. Creditors will receive varying percentage payouts according to their claims: 6% for Dotcom Customer claims, 40% for US Customer Entitlement Claims, 24% for General Unsecured Claims, and 120% reimbursement for Convenience claims. The significant payouts come as the trust aims to mitigate the financial impacts stemming from the collapse of FTX in 2022, which significantly affected the crypto marketplace. As traders and investors continue to observe these reimbursements, they could influence market behaviors. Meanwhile, former CEO Sam Bankman-Fried is set to appeal his conviction in November 2023, maintaining that the trial was unfair and that FTX was never truly insolvent.

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