FTX is preparing to distribute another major tranche of creditor repayments. Bankruptcy court just greenlit $1.9B in disbursements, with payments scheduled to begin on September 30. Claimants must be verified before the August 15 record date to be eligible.
This marks round three of FTX’s massive repayment plan , a multibillion-dollar effort to make users whole following the exchange’s 2022 collapse.
The approved distribution brings FTX’s total repayments to $8.1B, following previous disbursements of $1.2B in February and $5B in May. The target? Between $14.7B and $16.5B in total payouts. Recoveries vary depending on the type of claim and how assets were valued during the bankruptcy.
Roughly 98% of creditors are expected to receive at least 119% of the value of their original claims. That’s based on pricing from the date FTX filed for bankruptcy in November 2022.
It’s an unexpected twist in what was once viewed as a hopeless case. After FTX’s collapse, many assumed pennies on the dollar , if anything. Now, most former users stand to gain, not just recover.
Who Gets Paid , and How
FTX has named BitGo, Kraken, and Payoneer as the official distribution platforms. To receive payouts, users need to complete KYC checks and submit tax documents.
Geopolitical restrictions apply. Users in China, Russia, Ukraine, and Pakistan may face delays or additional compliance checks. No further detail was given on how long these hold-ups might last.
FTX has warned that failing to complete all necessary verifications may result in delays or forfeiture of claims.
📆 FTX has announced plans to begin distributing the next batch of creditor claims on September 30. The bankruptcy court has released $1.9B for this purpose. The record date for claim holders is set for August 15.
So far, #FTX has distributed $6.2B to former customers across two… pic.twitter.com/66yYfq2XOw
— Mpost Media Group (@mpost_io) July 24, 2025
FTX Payout Structure & Court Approval
The repayment effort stems from a carefully structured bankruptcy proceeding in Delaware court. The court’s latest approval to unlock $1.9B comes as part of the third phase in FTX’s sequential repayment strategy. While exact amounts per claimant will vary, the estate has emphasized fairness and speed in execution.
What makes this case unique is the surplus most retail users are now expected to receive , a stark contrast to most crypto bankruptcies. Institutional lenders and larger creditors may receive lower recovery percentages, depending on specific assets held and contract terms.
Asset Valuation: The Key Factor
All payouts are based on the value of assets at the time of the bankruptcy filing , not current prices. So even if a user held Solana (SOL), Ethereum (ETH), or Bitcoin (BTC), they’ll receive fiat-equivalent based on Nov 2022 prices, not today’s market value.
This clause is both a win and a loss: For many, it’s still a major recovery. But for some, especially those who held long-term assets, the upside potential has been lost.
The August 15 record date is critical. Anyone without verified claims by that date will not be included in the upcoming batch of payments.
FTX has not released dates for subsequent distributions, but insiders suggest a final major round could arrive by early 2026, depending on asset liquidation progress and regulatory clearance.
Token Data Snapshot
FTT (FTX Token) is currently trading at $1.42, with a market cap of $466M. While FTT is no longer relevant to the bankruptcy estate’s recovery, the token still attracts speculation , especially from traders anticipating a relaunch or restructuring.
With over $6.2B already distributed and another $1.9B unlocked, FTX is rewriting the playbook for post-collapse recovery. While not without delays and restrictions, the case stands out as one of the rare crypto bankruptcies where users aren’t just made whole , they’re walking away with gains.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Source: https://nulltx.com/ftx-to-resume-creditor-payouts-sept-30-1-9b-approved-for-next-round/