- FTX Recovery Trust will release $1.6B on September 30 to creditors with verified claims.
- US customers will reach 95%, while dotcom customer entitlement claims rise to 78%.
- Convenience claims will receive 120% refunds, showing priority given to smaller creditors.
The FTX Recovery Trust will distribute $1.6 billion to creditors on September 30, marking the third round of repayments since the exchange collapsed in November 2022. Creditors are expected to receive funds within three business days of the payment date, according to the Trust’s latest announcement. The distribution schedule and class-based repayment categories reflect a structured process turning uncertainty into measurable progress for thousands of affected claimants.
Distribution Categories and Claim Priorities
The payout will be allocated across several claim classes with clear percentages assigned. Dotcom Customer Entitlement Claims will receive an additional 6%, raising cumulative recovery for that group to about 78%. U.S. Customer Entitlement Claims will secure a 40% repayment, pushing their recovery level close to 95%, making them among the closest to full repayment.
In the tranche covering General Unsecured Claims and Digital Asset Loan Claims, each category will receive an initial 24% distribution, lifting recovery for those classes to roughly 85%. On the other hand, Convenience Claims, being small balances, will receive 120% repayment, which is more than the original face value of the claims. The enhanced distribution prioritizes prompt payment of smaller creditors in order to reduce the administrative burden. Distribution proceeds will flow through various distribution service providers, including BitGo, Kraken, and Payoneer.
Verification and Eligibility Process
To proceed with the claim, the respective steps must be taken through the FTX Customer Portal. These include KYC verification, escalating tax forms as required, and selecting one of the allowed DSRs. The Trust clarified that no wallet connections are required for reimbursement, alleviating concerns about security and fraudulent activities that could otherwise complicate bankruptcy claims.
Transferred claims undergo additional treatment. No distribution shall be made to transferee holders without their names appearing on the claims register at the end of a 21-day notice period without objections. This measure ensures the register is always recognized as the final record of valid ownership of claims. The Trust previously distributed about $1.2 billion in February and more than $5 billion in May 2025, a total of approximately $6.2 billion in prior repayments.
Related: Ex-Binance CEO Seeks Dismissal From $1.8B FTX Clawback Suit
Context and Broader Implications
The collapse of FTX in 2022 shook the entire crypto industry around the world, further exacerbating the bear market that had already put pressure on digital assets. The repayment schedule of the Recovery Trust is still followed by traders and investors who believe that any distribution could impact the sentiment of the markets.
Sam Bankman-Fried, the founder and former CEO of FTX, was convicted in November 2023 on seven counts of wire fraud, securities fraud, commodities fraud conspiracy, and money laundering conspiracy. On March 28, 2024, Judge Lewis Kaplan sentenced him to 25 years. Judge Kaplan called the actions of the defendant and the resulting collapse a “serious crime.”
The September 30 payout by the Recovery Trust is significant not just because of its $1.6 billion size; it is big because of its structure. Whereas earlier payouts had no timeline and were administered on an ad hoc basis across different claim classes, this payout comes with clear timelines, transparent claim categories, and procedural rigor. For many creditors who have waited years, this marks a critical shift from a haze of uncertainty to structured resolution.
Nevertheless, the road is far from complete. Some claims continue to be disputed or considered legally ineligible, particularly in certain jurisdictions. The Trust can continue distributions only once further asset recovery is achieved either by liquidation, settlement, or ongoing legal proceedings.
