FTX Recovery Trust pays $1.6 billion to creditors
FTX Recovery Trust started distributing approximately $1.6 billion to eligible creditors. The payment represents the third round under the exchange's Chapter 11 plan and will reach recipients through BitGo, Kraken, or Payoneer within one to three business days.
Creditors who completed identity verification, submitted tax forms, and registered with one of the three payment providers will receive funds according to their claim class. The distribution follows the priority structure outlined in the reorganization plan, with payments going to the selected provider rather than directly to personal wallets.
The payout percentages vary by creditor category. Users and investors will receive up to 120 percent of their dollar holdings at the time of bankruptcy, depending on their claim class. The actual percentages may shift slightly due to rounding.
The payout percentages vary by creditor category. Users and investors will receive up to 120 percent of their dollar holdings at the time of bankruptcy, depending on their claim class. The actual percentages may shift slightly due to rounding.
FTX emphasized that creditors should only use the official customer portal for bankruptcy-related actions and that wallet connections are not needed. For claims that have been transferred, payments will go to the transferee listed on the official register after a 21-day notice period passes without objection.
The distribution is the third since FTX filed for bankruptcy in November 2022. The previous payout on May 30 sent over $5 billion to eligible creditors in stablecoins. The Recovery Trust indicated that future payment dates depend on additional asset recoveries and the processing of remaining claims.
FTX's reorganization plan became effective in early 2025 after the Delaware bankruptcy court confirmed it in October 2024. The debtors stated they expect to return the full amount of allowed claims to non-governmental creditors. The projected total recovery pool ranges in the mid-teens of billions of dollars, depending on how asset sales and settlements resolve.
The Recovery Trust has been liquidating assets and pursuing legal actions to build the distribution pool since the plan took effect on January 3, 2025. The trust will announce additional record dates and payment schedules as it processes claims and recovers more assets.
The distribution is the third since FTX filed for bankruptcy in November 2022. The previous payout on May 30 sent over $5 billion to eligible creditors in stablecoins. The Recovery Trust indicated that future payment dates depend on additional asset recoveries and the processing of remaining claims.
FTX's reorganization plan became effective in early 2025 after the Delaware bankruptcy court confirmed it in October 2024. The debtors stated they expect to return the full amount of allowed claims to non-governmental creditors. The projected total recovery pool ranges in the mid-teens of billions of dollars, depending on how asset sales and settlements resolve.
The Recovery Trust has been liquidating assets and pursuing legal actions to build the distribution pool since the plan took effect on January 3, 2025. The trust will announce additional record dates and payment schedules as it processes claims and recovers more assets.
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