Market News: FTX Mainnet Upgrade to Commence on May 30

BlockBeats News, March 31st, according to Bloomberg, FTX will start using the $11.4 billion cash reserve collected since the company's self-shutdown at the end of May to repay its main creditors.

Andrew Dietderich, the lawyer in charge of the FTX Chapter 11 bankruptcy case, informed the judge overseeing the case that while holders of FTX's small debts defined as "convenience claims" have already begun receiving payments, the company will make its first payment to the main group of creditors on May 30th.