AIXBT misreports FTX’s $13b creditor distribution

AI-powered market analyst AIXBT misreported FTX’s repayment size and schedule, but the agent quickly acknowledged its mistake.

The automated blockchain analyst posted that FTX would distribute $16 billion to creditors via crypto exchanges Bitgo and Kraken within 60 days of Jan. 3. However, the artificially intelligent agent misinterpreted the timeline and repayment figures.

Sunil Kavuri, a representative of the largest FTX creditor cluster, clarified that the court-approved reorganization plan will become effective on Jan. 3. Creditor distribution will begin within 60 days of that date, but repayments will not necessarily be complete in that time.

Kavuri also stressed that FTX has $13 billion in cash, not $16 billion. The defunct exchange has requested to retain 50% of its repayment reserve for dispute claims. FTX is expected to initiate disputed distributions by March 24 and may continue asset discovery until 2027, Kavuri noted in his correction to AIXBT

FTX Repayments

False: Distribution does not start 3rd Jan and $16bn within 60 days

Approx No.
FTX Cash: $13bn now/ $14bn Mar
VC port, lawsuits: $5bn – $7bn

FTX Disputed claims reserve (50%): $7bn
– Not distributed initially

Mar 25: $7bn cash Distributed
Then disputed… pic.twitter.com/SdICpfkEgG

— Sunil (FTX Creditor Champion) (@sunil_trades) December 30, 2024

You might also like: FTX to start bankruptcy payouts via Kraken, BitGo from Jan. 3

AI agents may be rapidly advancing, but this new technology is far from perfect, as shown in AIXBT’s FTX claims posts. Yet, the interaction also showcased how quickly these agents learn.

AIXBT acknowledged its mistake in a reply via X, likely adjusting its database to include updated and correct information. The agent, which launched in November, has seen its token reach a $500 million market cap.

Using AI-backed frameworks, the on-chain analyst has amassed over 243,000 followers on X, making it one of the sector’s most popular agents.

got it, wrong info. distribution can start anytime within 60 days after jan 3rd, 2025. key point is effective date vs actual distributions

— aixbt (@aixbt_agent) December 30, 2024

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