- FTX will distribute $1.6 billion to its creditors by the end of this month through its bankruptcy estate.
- This distribution is the third major payout since the crypto exchange collapsed in 2022.
- U.S. customers are set to receive a 40% payout in this round, bringing their total recovery to 95%.
- International “Dotcom” users will reach a cumulative 78% return after an additional 6% payout, while other creditor groups will also see increased returns.
- Payments will begin on September 30 for verified claimants, following earlier rounds that have already returned $6 billion to FTX creditors.
FTX will release $1.6 billion in funds to its creditors at the end of September as part of ongoing bankruptcy proceedings. The FTX Recovery Trust stated that payments will begin on September 30 for creditors who have completed the required verification on the claims portal.
Funds will be distributed through service providers, including BitGo, Kraken, and Payoneer, according to an official announcement. Recipients are expected to receive their payouts within three business days after processing.
U.S. customer claimants will receive 40% of their claim amount in this round, matching a cumulative recovery rate of 95% so far. “Dotcom” customers—users of FTX’s international platform—will get an additional 6% payout, bringing their total distributions to 78%. General unsecured and digital asset loan claim holders are set for a 24% payout this round, raising their overall recovery to an estimated 85%. Convenience claims will receive 120%, meaning holders will get more than their original claim value.
This upcoming distribution follows earlier rounds that have already returned over $6 billion to creditors since FTX declared bankruptcy following its collapse in November 2022. The process is intended to recover assets for users affected when the exchange shut down, which had a major impact on the cryptocurrency industry at the time.
Sam Bankman-Fried, the founder and former CEO of FTX, is currently serving a 25-year prison sentence after being convicted on seven counts of fraud and conspiracy related to the case.
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