FTX distributed around $900 million to creditors on July 31, marking its fifth payout since the bankruptcy process began. This brings total repayments to nearly $10 billion, with many creditors positioned to recover more than their original claims.
Payments cover both Convenience and Non-Convenience claims approved under the Chapter 11 plan. Creditors had to meet a June 16 record date and complete all onboarding steps, including tax forms and KYC verification, to be eligible. Payouts are being handled via BitGo, Kraken, and Payoneer and are expected to reach beneficiaries within one to three business days.
Recovery rates are impressive: international and U.S. customers should see about 105% cumulative repayment, while unsecured and digital asset loan claims hover around 103%. Convenience claims, meanwhile, have received distributions averaging 120% of the claim amount, though final numbers may vary slightly due to rounding. Creditors who missed the June 16 deadline now face a strict six-month window to complete onboarding or risk losing distribution rights.
