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FTX plans to commence a $5 billion second distribution to eligible creditors on May 30, 2025. FTX Trading Ltd. and the FTX Recovery Trust announced the upcoming distribution via a press release on May 15. The $5 billion set for distribution will go to holders of allowed claims under the collapsed crypto exchange’s Chapter 11 reorganization plan. This second tranche of distributions will cover eligible creditors in both the Convenience and Non-Convenience Classes. However, disbursement is limited to FTX creditors who have completed the required pre-distribution processes. (1/3) FTX today announced it is set to distribute more than $5 billion in its Second Distribution to holders of allowed claims in the Plan’s Convenience and Non-Convenience Classes that have completed the pre-distribution requirements on May 30, 2025. Eligible creditors will receive funds from their distribution provider – either Bitgo or Kraken – within one to three business days starting May 30, 2025. After this phase of the Chapter 11 plan, FTX will issue an update on subsequent record and payment dates. The announcement of this second distribution follows the initial phase in February 2025 , with the record date for the next distribution having been scheduled for April 11, 2025. It included a record for allowed claims with Class 5 customer entitlement claims and Class 6 general unsecured claims. Also covered were holders of convenience claims that had been allowed but not yet received. FTX aimed for the second distribution on the date it just announced. John J. Ray III, plan administrator of the FTX Recovery Trust, noted in a statement: “These first non-convenience class distributions are an important milestone for FTX. The scope and magnitude of the FTX creditor base makes this an unprecedented distribution process, and today’s announcement reflects the outstanding success of the recovery and coordination efforts of our team of professionals. Our focus remains on recovering more for creditors and resolving outstanding claims.” The distribution will see creditors in allowed class 5A Dotcom Customer Entitlement Claims receive a 72% of funds, class 5B U.S. Customer Entitlement Claims 54% and classes 6A General Unsecured Claims and 6B Digital Asset Loan Claims 61% distribution. Meanwhile, those in allowed class 7 Convenience Claims are expected to get 120%. FTX collapsed in November 2022, imploding amid fraud by convicted company officials, including founder and former chief executive officer Sam Bankman-Fried . Amid the announcement, the FTX Token ( FTT ) spiked more than 13%, trading to highs of $1.33. When FTX imploded, FTT price nosedived from highs of $25 to $0.87 within days.

Addentax, a US-listed company, plans to buy 8,000 Bitcoins and mainstream cryptocurrencies such as TRUMP Addentax Group Corp (NASDAQ: ATXG), a US-listed company, announced that it has held talks with some major and influential holders of Bitcoin and other mainstream cryptocurrencies, and plans to acquire up to 8,000 Bitcoins and other cryptocurrencies, such as the TRUMP token. It is expected to cost $800 million and will be financed through the issuance of common stock. No final agreement has been reached yet. Addentax Group management said that this move is the company's core action to support its long-term investment and holding strategy for crypto assets, strengthening its balance sheet by acquiring highly liquid and widely recognized digital assets, while attracting new shareholders with experience and expertise in the field of cryptocurrencies.

Solana Ecosystem Project 10K Pre-sale Raised Approximately 8.23 Million USD in 24 Hours The 10K presale of the Solana ecosystem content project raised a total of $8.23 million in 24 hours. According to the token economic model, the 10K tokens are distributed as follows: • 60% are allocated to Watch-to-Earn users to incentivize active viewers; • 20% are allocated to presale participants to bind creators and early supporters; • 20% are used to inject liquidity (LP), using a pump.fun-style launch mechanism to maintain a tight spread. It is reported that all tokens are deployed on the Solana network, and the SOL raised by the presale will be fully injected into the liquidity pool, with only a 5% platform fee deducted. The presale has now ended.

Movement Labs has been exposed for allocating up to 10% of the MOVE token to two "shadow advisors."

Movement Labs was revealed to have secretly promised to provide up to 10% of the token shares to two advisors Leaked internal documents from Trump-backed crypto startup Movement Labs show that it had signed memoranda with two consultants promising to grant them up to 10% of the total supply of MOVE tokens. These agreements were not disclosed to investors or the public. One of the consultants, who was internally referred to as a "shadow co-founder," is currently seeking legal means to cash out tokens worth more than $50 million. Movement Labs said these agreements were non-binding, but the incident exacerbated the company's previous controversy over the market manipulation scandal and led to public disagreements between the co-founders. (CoinDesk)