Chinese creditors affected by FTX’s latest legal maneuver are ramping up efforts to challenge the bankrupt exchange’s request to delay payouts to users in 49 jurisdictions with restrictive or uncertain crypto laws.

The group is turning to US courts and regulators, raising concerns about fairness, transparency, and procedural integrity.

Speaking with CryptoSlate, a Chinese creditor named Will has retained a US attorney and is part of a growing community of over 500 Chinese creditors organizing their response against FTX’s decision.

He revealed that dozens of affected users have already sent formal objections to the bankruptcy court. “So far, 35 people from our group have mailed letters to the judge,” he said on X.

He told CryptoSlate:

“I’m working closely with a growing group of Chinese creditors—now over 500 members—many of whom are taking coordinated actions such as writing letters to the judge and US Trustee, and exploring group legal representation.”

According to him, their frustration centers around a recent FTX motion asking the court for permission to hold back $470 million in distributions to creditors in countries with ambiguous crypto rules. China accounts for the majority of this amount, with $380 million in claims, or roughly 82% of the restricted total.

Will, however, stressed that:

“$470 million is not just a cold number — behind it are countless families already hurt once. A second wound is unfolding. We can’t stay silent.”

Concerns over fairness

Speaking on behalf of the Chinese creditors, Will argues that FTX’s move contradicts earlier assurances.

He told CryptoSlate:

“We were told clearly: as long as we submitted our claims and voted in favor of the plan, we would be entitled to receive our distributions like everyone else. Based on that understanding, we cooperated, our claims were verified, and we supported the reorganization plan in good faith.”

He argues that this reversal erodes trust in the process. FTX’s new legal move could deny them their rightful compensation because of their “nationality or perceived legal uncertainty.”

He said:

“This situation is not only unfair—it’s procedurally questionable. A confirmed plan should not be altered in a way that selectively strips rights from certain creditors after the fact. We believe such changes, especially those targeting a group of people based solely on jurisdiction, deserve close scrutiny from the court.”

FTX claims it is trying to avoid legal risk by not sending funds to countries where crypto use may be restricted.

However, critics see this as a dangerous precedent that could selectively undermine the rights of verified claimants after a reorganization plan has already been confirmed.

He concluded:

“At the end of the day, this is not just about money—it’s about fairness, credibility, and trust in the system. We are not asking for special treatment; we are asking to be treated equally under the same rules as everyone else. A confirmed distribution process should not be altered at the last stage to selectively exclude those who have already done everything required of them.”

Mentioned in this article

About 14 million Android users are set to receive a massive $314.6 million payout from Google, after a jury declared the company wrongfully transferred customer data without permission.

A jury in California has found the tech giant must pay damages for transferring data from idle Android smartphones without permission, reports Reuters.

Google says it will appeal the decision, which the lawsuit claimed triggered “mandatory and unavoidable burdens shouldered by Android device users for Google’s benefit.”

The jury found the data transfers violated California’s privacy laws, and the money will be handed exclusively to users in the state.

According to the lawsuit, which was initiated in 2019, the company used customers’ cellular data to transfer information that was used for things like targeted advertising.

In court, Google argued that the transfers were fully legal and covered by the company’s privacy policies and terms of service, and no users were harmed in any way.

After the verdict was announced, Google spokesperson Jose Castaneda said the jury’s decision “misunderstands services that are critical to the security, performance, and reliability of Android devices.”

Google is also facing a lawsuit on the transfers that represent customers in the rest of the country, which is set to start in the first half of next year.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Some companies do an incredible job of paying dividends. Realty Income (O -0.05%) is one such company. The real estate investment trust (REIT) recently delivered its 131st dividend increase to its investors since its public market listing in 1994. It’s the REIT’s fourth dividend increase already this year.

With one of the most bankable high-yielding monthly dividends around, Realty Income is an ideal stock to buy and hold for passive income.

Image source: Getty Images.

Putting even more income into investors’ pockets

Realty Income recently declared its latest monthly dividend payment. The REIT will pay investors $0.269 per share in mid-July to those who own the stock by the first of next month. That raises its annualized dividend rate to $3.228 per share, which is a more than 5.5% yield at its recent stock price. The payout is 0.2% higher than its last payment and 2.3% above the year-ago level.

The REIT’s most recent raise is its 131st since coming public. It also extends the company’s growth streak to 111 quarters in a row. Realty Income has increased its dividend in all 30 years since its public market listing.

Data source: Realty Income.

CEO Sumit Roy commented on Realty Income’s latest dividend declaration in a press release. He stated, “The quality and diversification of Realty Income’s portfolio allows us to provide investors reliable monthly dividends that increase over time.” The CEO also remarked, “During times of market uncertainty, Realty Income remains committed to delivering investors predictable income streams.”

Showing no signs of stopping

Realty Income should have no problem continuing to increase its dividend in the future. Driving that view is the strong foundation the company has built over the years.

The bedrock is its high-quality real estate portfolio. Realty Income owns a diversified portfolio of over 15,600 retail, industrial, gaming, and other properties net leased to many of the world’s leading companies. Notable tenants include 7-Eleven, Dollar General, FedEx, Home Depot, and Walmart. Its focus on investing in properties secured by long-term net leases enables the REIT to generate very predictable cash flow because tenants cover all property operating expenses, including routine maintenance, real estate taxes, and building insurance.

Realty Income pays out a conservative percentage of its stable cash flow in dividends — 75% of its adjusted funds from operations (FFO) in the first quarter. That gives it a comfortable cushion while allowing it to retain meaningful excess free cash flow to invest in more income-generating properties each year. It produced nearly $238 million in adjusted FFO after dividends in the first quarter of this year.

The REIT also has a fortress balance sheet. It’s one of only 10 REITs in the S&P 500 (^GSPC 0.13%) with two bond ratings of A3/A- or higher. Realty Income’s excellent credit provides it with lower borrowing costs to fund new investments.

Realty Income’s diversification helps lower its risk profile while enhancing its growth prospects. The company estimates that the total addressable market for net lease real estate is $5.5 trillion in the U.S. and $8.5 trillion in Europe. The REIT has been steadily growing its opportunity set by expanding into new property verticals. It recently added U.S. gaming ($400 billion) and U.S. data centers ($500 billion) to its portfolio.

The company has also expanded into additional European markets, added a credit investment platform, and is launching a private capital fund in the U.S. Its growing diversification has further expanded its already massive growth runway.

An incredible passive income investment

Realty Income continues to steadily increase its already attractive monthly dividend payment. The REIT backs its payout with a high-quality real estate portfolio and top-notch financial profile. Add in its massive growth runway, and the REIT’s dividend should remain unstoppable. Because of that, it’s an ideal stock to buy and hold for a lifetime of passive dividend income.

Millions of T-mobile customers affected by a massive hack and data breach are beginning to receive their share of a $350 million class action settlement.

According to the settlement administrator, the distribution of settlement payments has now begun and will continue over the next several weeks.

The 2021 cyberattack compromised the personal data of a staggering 76 million US customers, exposing names, addresses, Social Security numbers, and other sensitive information.

T-Mobile agreed to the settlement in July of 2022 to resolve claims from the August 2021 breach.

Customers eligible for payments will receive a digital deposit or paper check based on their selection during the claim process, with amounts ranging from $25 to $100, with some eligible for up to $25,000 for substantial documented losses.

The settlement also includes two years of free identity protection services for affected customers.

The breach, one of the largest in U.S. history, prompted lawsuits accusing T-Mobile of failing to secure customer data.

T-Mobile says it has since enhanced its cybersecurity protocols to prevent future incidents, and the company did not admit to any wrongdoing in the settlement.

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Amin Ayan

Crypto Journalist

Amin Ayan

About Author

Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has…

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May 30, 2025

The FTX Recovery Trust has launched a second wave of payments to creditors, marking a major milestone in the collapsed exchange’s ongoing reimbursement process.

On May 30, the Trust began distributing $5 billion to eligible creditors who completed pre-distribution requirements, targeting both the Convenience and Non-Convenience Classes.

The move follows a May 28 announcement detailing how the funds would be allocated across various claim types.

FTX Creditors Set to Receive Up to 72% Payout in Latest Round

Under the plan, Dotcom Customer Entitlement Claims are set to receive a 72% distribution, while US Customer Entitlement Claims will see a 54% payout.

Convenience Claims will receive a full 120% reimbursement. General Unsecured Claims and Digital Asset Loan Claims are scheduled for a 61% distribution.

Payments are being processed through official distribution partners Kraken and BitGo, with recipients expected to receive funds within one to two business days.

The FTX reimbursements are being closely watched by crypto investors, as large liquidity injections from these payouts could impact digital asset markets.

Analysts warn that if recipients choose to offload or swap their recovered funds on retail exchanges, it could introduce short-term price volatility.

This is the second major disbursement since FTX’s collapse. The first round of payments, totaling $1.2 billion, was distributed on February 18 to claimants with less than $50,000 in approved claims.

The reimbursement process has not been without controversy.

In September 2024, FTX creditor Sunil Kavuri highlighted that claim values were being calculated based on prices at the time of the bankruptcy filing — during the depths of the crypto winter — rather than current market values.

As a result, many creditors are recovering just 10% to 25% of their crypto holdings’ actual value.

Kavuri has also raised concerns about global fairness, noting that creditors in 163 countries, including Egypt, Iran, Russia, Greenland, and Pakistan, remain ineligible for payouts.

Sam Bankman-Fried’s Release Date Set for 2044

FTX founder Sam Bankman-Fried is now projected to be released from federal prison on December 14, 2044, after serving less than 21 years of his 25-year sentence for fraud tied to the FTX collapse.

He was also fined over $11 billion. Federal records confirm that Bankman-Fried has been moved from New York to a transfer facility in Oklahoma following nearly two years behind bars.

The move comes after Bankman-Fried was reportedly placed in solitary confinement earlier this month for giving an unauthorized interview to Tucker Carlson.

His incarceration began in August 2023, after Judge Lewis Kaplan revoked his bail due to allegations of witness tampering involving leaked diary entries from former Alameda CEO Caroline Ellison, who was a key witness in the case.

Victims of a massive data breach are set to receive their share of a multi-million dollar settlement after a court preliminarily approved the deal.

According to the settlement portal, $20 million will be shared among more than five million affected users of the cybersecurity firm Fortra’s file transfer platform.

The impacted data includes “names, addresses, dates of birth, member identification numbers, telephone numbers, employer names, Social Security numbers, start and end dates of health plan coverage, and health insurance information.”

The lawsuit was filed against Fortra, as well as rail service provider Brightline, healthcare firms Aetna, Community Health, Elevance Health, Fortra, Imagine360, Intellihartx, NationsBenefits and Santa Clara Family Health Plan.

Class members who provide “reasonable documentation for losses” of the 2023 data breach will receive up to $5,000. In the absence of documentation proving the extent of the losses they suffered as a result of the data breach, class members will receive around $85.

Claims must be submitted by August 29th. Besides the cash payment, class members are also eligible to receive dark web monitoring services for one year to mitigate the risks of potential identity theft and fraud.

The payments will be made once the court gives the class action settlement final approval. A final approval hearing of the lawsuit settlement terms will be held in mid-September.

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FTX Trading Ltd. and the FTX Recovery Trust announced today that distributions under the FTX Chapter 11 Plan of Reorganization will resume on May 30, 2025.

The forthcoming round, known as the Second Distribution, will be made to eligible creditors in the Convenience and Non-Convenience Classes who have completed all required steps, including KYC verification, tax form submission, and onboarding with one of FTX’s designated Distribution Service Providers—BitGo or Kraken.

Details of the Second Distribution

According to FTX, eligible creditors should expect to receive funds from their chosen service provider within one to three business days following May 30.

The process marks the first non-convenience class distribution under the plan and is guided by the waterfall structure defined in the reorganization blueprint.

Specifically, Dotcom Customer Entitlement Claims (Class 5A) will receive a 72% distribution, U.S. Customer Entitlement Claims (Class 5B) will receive a 54% distribution, General Unsecured Claims (Class 6A) and Digital Asset Loan Claims (Class 6B) will both receive 61%, and Convenience Claims (Class 7) will be paid out at 120%.

Plan Administrator John J. Ray III noted, “These first non-convenience class distributions are an important milestone for FTX.”

“The scope and magnitude of the FTX creditor base make this an unprecedented distribution process, and today’s announcement reflects the outstanding success of the recovery and coordination efforts of our team of professionals,” he added.

Key Requirements and Next Steps

FTX has also reiterated that customers must complete several steps before becoming eligible for any current or future distributions.

This includes logging into the FTX Customer Portal, completing KYC procedures, submitting necessary tax documentation, and onboarding with either BitGo or Kraken.

Customers who have opted for these service providers have effectively chosen to forgo direct cash distributions from FTX and instead receive payment through their selected provider. Any inquiries regarding fund availability should be directed to the provider’s customer support team.

As the process unfolds, FTX said it will continue to announce future record and payment dates. For transferred claims, only the transferee officially listed on the claims register will receive distributions, provided the 21-day notice period has passed without objection.

FTX Executives Sentenced: Where Are They Now?

FTX, once a dominant force in the crypto exchange space, collapsed in November 2022 after facing a severe liquidity crisis. Within days, the company filed for bankruptcy, and its CEO, Sam Bankman-Fried (SBF), stepped down. He was later convicted and sentenced to 25 years in prison.

Among those affected was investor Kavuri, who claimed to have endured two years of financial distress after losing over $2 million in FTX’s downfall.

Legal proceedings against four other former FTX and Alameda Research executives wrapped up by the end of 2024. This led to Caroline Ellison and Ryan Salame receiving prison sentences, while Nishad Singh and Gary Wang were given time served.

FTX’s restructuring plan, approved in October 2024, prioritized repayments to users with claims under $50,000. Around 98% of affected users will receive 119% of their declared funds.

The post FTX to Deliver Up to 120% Creditor Payout in May 30 Second Distribution Wave appeared first on Cryptonews.