FTX launches fifth creditor payout round, about $900 million to be distributed starting today

FTX initiating its fifth creditor distribution, totaling roughly $900M starting today, is a meaningful liquidity event for crypto markets. Repayments can translate into near-term flows as recipients rebalance between cash and digital assets, affecting spot demand and exchange liquidity conditions. The development also reduces a key overhang tied to the FTX estate, though market impact depends on recipients' sell-through behavior and timing.