FTX will distribute $1.6 billion to creditors today, September 30, marking another decisive step in the exchange’s recovery process. The payments come almost two years after the collapse that shook the crypto industry.
The estate confirmed that funds will flow to eligible creditors who completed all onboarding requirements. That includes ID verification, tax documentation, and account setup with chosen partners. Distributions will be handled through BitGo, Kraken, and Payoneer. Creditors can expect the money in their accounts within one to three business days.
FTX to Release $1.6 Billion to Creditors Today.
FTX will send out $1.6 billion to creditors today, Sept. 30, representing another major step in its ongoing recovery process.
FTX confirmed that eligible creditors who completed all the required steps, such as identity checks, tax… pic.twitter.com/atuBaEkX4f
— TheCryptoBasic (@thecryptobasic) September 30, 2025
A $1.6B Milestone
The FTX Estate has announced that today’s distribution totals roughly $1.6 billion in either cash or stablecoins. It is one of the largest creditor repayments since the bankruptcy process began.
Payments will be split across the three partner platforms. Kraken, BitGo, and Payoneer are tasked with handling the transfers, each responsible for processing a portion of claims. The estate said creditors will see the money reflected within three days, though some may receive it sooner.
This milestone underscores FTX’s effort to rebuild trust. For creditors, many of whom have waited years to recover lost funds, it is another tangible sign that the long bankruptcy process is delivering results.
The Refund Schedule So Far
FTX has made steady progress on its refund schedule this year. February marked the first wave of repayments, followed by a second round in May. Today’s distribution is the third and largest to date.
The estate has emphasized that these rounds are part of a structured plan. By spreading the refunds over several phases, FTX can balance liquidity management while ensuring that creditors are not left waiting indefinitely.
Arkham confirmed
FTX TO DISTRIBUTE $1.6B TO CREDITORS TODAY
The FTX Estate will begin making creditor distributions of approximately $1.6B of cash and/or stablecoins today through Bitgo, Kraken and Payoneer, with creditors receiving the funds over the next three days. pic.twitter.com/4fDKgLv9wU
— Arkham (@arkham) September 30, 2025
that wallet activity tied to the estate shows stablecoin and cash movement consistent with today’s payouts. This blockchain evidence supports the estate’s announcement.
How FTX Creditors Qualify
Not every creditor is included in this round. Eligibility required strict compliance steps. Claimants had to finish KYC checks, provide accurate tax documents, and onboard through a partner platform.
The estate said creditors who missed these steps will need to wait for future rounds. “We have emphasized the importance of meeting onboarding deadlines,” the statement explained. “Those who have not done so will be included in later distributions.”
This process has frustrated some creditors who hoped for faster access to funds. However, bankruptcy law requires meticulous identity verification to prevent fraud and ensure payouts reach legitimate claimants.
Stablecoins and Cash
FTX confirmed that today’s $1.6 billion distribution will be a mix of stablecoins and U.S. dollars. While the estate did not specify exact breakdowns, prior refunds included large amounts of USDC and USDT.
Stablecoin use makes sense for the crypto-native creditors who prefer digital assets. At the same time, cash payouts provide a direct path for others who want to withdraw into traditional banking systems. The dual-approach balances speed and accessibility.
Kraken and BitGo, both leading crypto custodians, have infrastructure to support such large transfers. Payoneer, a payments platform, enables international distribution for creditors outside the U.S.
News of the $1.6 billion payout has sparked strong reactions online. Creditors expressed cautious optimism, noting that while today’s payments are welcome, many are still waiting for full recovery.
One X post highlighted the importance of seeing actual transfers rather than promises. “We’ve heard timelines before,” wrote one user. “But now we see the stablecoin flows. That makes it real.”
Others pointed to the precedent this sets for future bankruptcies in the crypto industry. The FTX estate’s structured, transparent distribution process contrasts sharply with earlier collapses where creditors waited years without updates.
With today’s $1.6 billion release, FTX enters the final stretch of its repayment plan. February and May repayments were significantly smaller, and September’s distribution represents the largest commitment yet.
The estate has not confirmed the exact timeline for the next wave. However, it has stressed that additional distributions are expected in 2025. Creditors who missed onboarding this time will likely be included in that round.
The long-term outcome remains uncertain. While billions have been recovered, not all assets lost in the collapse will be repaid. Legal disputes over clawbacks and asset sales are ongoing. Still, the estate continues to position each distribution as a milestone in fulfilling creditor obligations.
What It Means for FTX’s Legacy
The repayment process will shape FTX’s legacy. Once one of the largest exchanges in the world, its collapse in November 2022 left customers reeling and sparked regulatory scrutiny worldwide.
By executing structured, timely repayments, the estate is attempting to salvage credibility. Each payout brings closure to thousands of creditors who suffered financial and emotional strain during the fallout.
Yet the shadow of FTX’s collapse remains. For many in crypto, the saga is a reminder of the risks tied to centralized exchanges and the importance of transparency.
Conclusion
Today’s $1.6 billion release is more than just a payout. It is a milestone in one of the most complex bankruptcy processes in crypto history. Thousands of creditors will finally see long-awaited funds appear in their accounts, whether in stablecoins or cash.
While challenges remain, the structured refund schedule, February, May, and now September, shows consistent progress. The estate’s ability to coordinate payments across BitGo, Kraken, and Payoneer demonstrates operational strength.
For creditors, it’s another step toward closure. For the broader industry, it is proof that even the largest collapses can find resolution with time, structure, and transparency.
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-release-1-6-billion-to-creditors-today-what-to-know-and-expect/