Bloomberg: FTX will begin paying bankruptcy claims to major creditors on May 30th

According to Bloomberg, former cryptocurrency company FTX will begin paying its major creditors at the end of May, using the $11.4 billion in cash reserves collected by the company since its closure. Bankruptcy lawyer Andrew Dietderich told the judge who recently took over the management of the Chapter 11 case that although secondary creditors classified as "convenience creditors" have begun to receive payments, the company will make its first payment to the main creditor group on May 30th. The company's main creditors include investors who owe millions of dollars and institutions that own cryptocurrency on the FTX platform.