FTX sets Feb. 14 record date, targets Mar. 31 payouts; seeks $2.2B reserve cut

FTX set the next distribution record date for February 14, with payouts to holders of allowed claims expected to begin on March 31. The exchange filed an amended notice seeking to reduce the disputed claims reserve by $2.2 billion, from $4.6 billion to $2.4 billion, pending Bankruptcy Court approval. Kraken, Payoneer, and BitGo will manage distributions once claim and KYC requirements are satisfied.