FTX's bankruptcy estate will distribute $1.6 billion to creditors beginning September 30, the third significant payment since the exchange's collapse. Payments will be made via service providers BitGo, Kraken, or Payoneer and credited to confirmed claimants' accounts within three business days.
US Customers will get 40% of their outstanding claims in this phase, for a total recovery of 95%. International "dotcom" users will receive an additional 6%, for a total of 78% cumulative returns. General unsecured and digital asset loan claimants are scheduled to receive a 24% compensation, bringing their total recovery to 85%. Convenience claims will be paid at 120% of the original amounts owed.
The payout follows earlier distributions of over $6B to creditors as part of ongoing efforts to repay victims following FTX's 2022 bankruptcy. Sam Bankman-Fried, FTX's founder, is currently serving a jail sentence for fraud and conspiracy in connection with the exchange's collapse.
The process represents one of the largest asset recoveries in crypto bankruptcy history. The payout itself provides significant optimism to creditors seeking restitution.
