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

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.