KEYTAKEAWAYS
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FTX announces $5 billion creditor repayments starting May 30 through BitGo and Kraken, marking significant progress in post-bankruptcy recovery efforts.
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Solana dominates blockchain revenue with $7.9 million daily earnings, outperforming Ethereum and Bitcoin due to high throughput and meme coin activity.
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Tron surpasses Ethereum as top USDT network with $75.7 billion issued, leveraging low fees and high transaction speeds for stablecoin dominance.
CONTENT
FTX TO BEGIN DISTRIBUTING OVER $5 BILLION TO CREDITORS ON MAY 30
FTX Trading Ltd., the parent company of collapsed crypto exchange FTX, will begin the second phase of its bankruptcy repayment plan on May 30, 2025.
More than $5 billion will be distributed to eligible creditors through BitGo and Kraken. Those who have completed KYC procedures can expect to receive funds within 1 to 3 business days starting from May 30.
ANALYSIS
FTX filed for bankruptcy in November 2022, with over $8 billion in liabilities. In 2024, a U.S. bankruptcy court in Delaware approved its Chapter 11 restructuring plan, which aims to return around $17 billion to creditors in phases.
The first round of repayments began on February 18, 2025. The second round, starting May 30, will distribute more than $5 billion to qualified creditors using BitGo and Kraken as payout platforms.
This marks a major step in the long process of compensating users and investors impacted by FTX’s collapse.
SOLANA OUTPERFORMS ALL L1 AND L2 CHAINS IN DAILY REVENUE ON MAY 13
On May 13, Solana recorded $7.9 million in revenue in a single day—more than all Layer 1 (L1) and Layer 2 (L2) blockchains combined, according to Cryptopolitan.
It earned 3 times more than Ethereum, 11 times more than Bitcoin, and 35 times more than Base. Solana also led the week with 51.6% of total blockchain revenue and $1.6 billion in DApp trading volume.
ANALYSIS
Solana’s high revenue was driven by:
- High TPS (Transactions Per Second): Up to 65,000 TPS
- Low Gas Fees: Around $0.0001 per transaction
- Meme Coin Hype: Popular meme token trading brought heavy traffic
Projects like Jupiter DEX and Pump.fun made major contributions. Compared to Ethereum and Bitcoin, Solana has a clear cost and speed advantage, helping it dominate the market in both user activity and developer engagement.
TRON BECOMES TOP NETWORK FOR USDT, SURPASSING ETHEREUM
According to Tether’s official website, over $75.7 billion worth of USDT has been issued on the TRON blockchain, officially surpassing Ethereum’s total. TRON now holds more than 50.2% of all USDT in circulation.
TRON founder Justin Sun posted, “Now we can say over half of all USDT is on TRON. That extra 0.2% might seem small, but it means a lot. Next goal: $100 billion—this is not a dream, it’s a preview.”
ANALYSIS
TRON has become the leading blockchain for USDT issuance, handling more than half of global USDT transactions and storage.
Reasons include:
- Lower Fees: Around $0.10 per transaction (compared to Ethereum’s ~$10/MB)
- High Throughput: Fast processing and confirmation
- Platform Adoption: Many exchanges and payment platforms prefer TRON-based USDT for its cost and speed
TRON’s dominance in USDT circulation reflects its efficiency and growing role in the global crypto payment system.
