- FTX will distribute approximately $900 million to eligible creditors on July 31.
- Approved claims will receive between 103% and 120% under the repayment plan.
- Payments will arrive through BitGo, Kraken, or Payoneer within three business days.
The FTX creditor payout will resume on July 31, when the FTX Recovery Trust begins distributing approximately $900 million to eligible claimants. Wu Blockchain (Wu Shuo) first reported the announcement, which was later confirmed by the trust. Creditors who completed the required procedures before the June 16 record date can expect payments through BitGo, Kraken, or Payoneer within one to three business days.
FTX Creditor Payout Covers Approved Claims on July 31
The fifth FTX creditor payout includes approved convenience and non-convenience class claims under the exchange’s court-approved bankruptcy plan. Convenience claims below $50,000 that have not been paid previously will receive 120% of their approved value. Larger approved claims will receive distributions ranging between 103% and 105%, depending on their classification.
Eligible priority equity interest holders are also scheduled to receive their second distribution on July 31. According to the FTX Recovery Trust, creditors who acquired claims through secondary markets must satisfy an additional 21-day holding period before qualifying for future repayments.
FTX Recovery Trust Continues Bankruptcy Repayments
This FTX creditor payout follows the $2.2 billion distribution completed in March. Including the latest round, the trust has returned about $10 billion since FTX entered bankruptcy proceedings after its collapse in November 2022.
The FTX Recovery Trust accumulated more than $14 billion by selling company assets, including its early stake in AI company Anthropic. While many creditors are receiving more than their original claim amounts due to post-petition interest, repayments remain based on cryptocurrency prices recorded in November 2022, rather than current market values.
FTX Bankruptcy Process Continues Beyond Latest Distribution
The trust said additional distributions will be announced later as the bankruptcy process continues. It also warned users to remain alert for scams, emphasizing that official representatives will never request wallet connections or private keys during the FTX creditor payout process.
Separately, former FTX CEO Sam Bankman-Fried remains imprisoned after losing his appeal. Meanwhile, the U.S. Senate recently approved a bipartisan resolution opposing any presidential pardon, though the measure does not legally prevent executive clemency.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
