Kraken reportedly confirmed that the second phase of FTX creditor repayments will start on May 30.

On March 6, FTX creditors’ representative Sunil Kavuri shared a screenshot of an email allegedly from Kraken. The email indicated that the exchange would initiate another round of repayments in May for customers affected by FTX’s 2022 collapse.

According to Kavuri, this phase will cover claims below and above $50,000.

As of press time, Kraken has not responded to CryptoSlate’s request for comment.

However, the timeline aligns with an earlier statement from the defunct FTX exchange, which announced that the next distribution would begin in May.

Meanwhile, this round of repayments follows the first phase, which started on Feb. 18. That initial distribution covered FTX customers with claims worth $50,000 or less. At the time, blockchain analytics platform Arkham Intelligence reported that around $1.2 billion in assets had been withdrawn from FTX-controlled wallets.

The upcoming repayment phase will expand eligibility, allowing larger investors to receive funds.

However, creditors in several countries—including China, Russia, Egypt, Nigeria, and Ukraine—have yet to receive any compensation. While these regions represent a significant portion of FTX’s user base, they were excluded from previous distributions.

Kavuri stated that FTX is exploring ways to resolve these issues, but it remains uncertain whether affected users will receive payments in the next round.

FTX unstakes Solana

As repayment plans progress, FTX has unstaked a large amount of its Solana (SOL) tokens this month.

On March 3, blockchain analytics firm Spot On Chain reported that FTX and its affiliate Alameda Research unlocked 3.03 million SOL—valued at approximately $432.5 million—and moved the tokens across multiple wallets.

The firm noted that this marks the largest unstaking event for FTX/Alameda since November 2023. The move appears to be part of a broader plan to unlock 11.2 million SOL, worth roughly $1.5 billion, scheduled for early March.

Since November 2023, FTX/Alameda has unstaked and liquidated 7.83 million SOL, worth around $986 million, through Coinbase and Binance. The average sale price for these transactions was $125.80 per token.

The post Kraken to start second phase of FTX creditor repayments in May appeared first on CryptoSlate.