TechFlow News According to Cointelegraph, recently, there have been rumors on social media that FTX will begin distributing compensation funds to creditors and customers on September 30, 2024, but this rumor has been confirmed to be false information. According to the latest bankruptcy documents, the next court hearing to confirm the reorganization plan is scheduled for October 7, 2024, presided over by John T. Dorsey, a judge of the Delaware Bankruptcy Court.

FTX's distribution plan currently faces opposition from creditors. Creditors demand compensation in physical assets such as cryptocurrencies rather than cash. However, FTX's lawyers insist that compensation must be made in cash to avoid conflict with existing bankruptcy laws and hinder the process.

If the plan is approved, small creditors with claims of less than $50,000 could start receiving payments in late 2024. Larger claimants would likely have to wait until the first or second quarter of 2025.