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The FTX Recovery Trust has announced the fifth round of distributions to creditors of the bankrupt cryptocurrency exchange FTX. Approximately $900 million will begin to be distributed on July 31, 2026.
Funds will be distributed to holders of both convenience and non-convenience claims under the company's restructuring plan. Payments will be processed through BitGo, Kraken, and Payoneer, with recipients expected to receive their funds within one to three business days.
The distributions are part of FTX's compensation program for users who lost access to their assets following the exchange's collapse in November 2022.
Compensation reaches up to 120% of claim value
Under the approved repayment plan, creditors with claims below $50,000 will receive compensation equal to 120% of their original claim amount. Other creditors are eligible for payouts ranging from 103% to 105% of their approved claims.Following the previous distribution round in March, the total amount returned to creditors reached approximately $10 billion.
The collapse of FTX was one of the defining events of the 2022 cryptocurrency crisis and contributed to the bankruptcy of several industry participants. Former CEO Sam Bankman-Fried and several other executives were found guilty of misappropriating customer funds.
Court rejects Sam Bankman-Fried's appeal
In 2024, Bankman-Fried was sentenced to 25 years in prison. In June, a federal appeals court rejected his request to overturn both his conviction and sentence.Despite the ruling, the former FTX chief later filed a pardon request with U.S. President Donald Trump. In January, Trump stated that he had no plans to grant such a request.
Earlier this week, the U.S. Senate unanimously passed a resolution opposing any presidential pardon for Bankman-Fried. While the resolution is non-binding, it reflects bipartisan opposition among lawmakers to the possibility of his release.
Separately, it was reported that streaming platform Netflix is developing a series based on the collapse of FTX and its former CEO Sam Bankman-Fried.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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