Catenaa, Wednesday, September 24, 2025- Defunct crypto exchange FTX will begin disbursing an additional $1.6 billion to creditors starting September 30, marking the third distribution under its Chapter 11 bankruptcy plan, the company announced Friday.
The plan, finalized in October 2024, draws on more than $15 billion in recovered assets, including cash reserves, clawbacks, and proceeds from sales of investments such as stakes in Anthropic, Robinhood, and tokens like SOL and SUI.
The upcoming payments will cover both convenience and non-convenience creditor classes. Convenience class creditors, largely retail users, make up nearly 99% of the creditor base, while non-convenience classes include larger or more complex claims.
Previous distributions returned roughly 120% of retail users’ exchange balances at the time of FTX’s November 2022 bankruptcy declaration.
Unsecured lenders, including General Unsecured Claims (6A) and Digital Asset Loan Claims (6B), have already received cumulative payouts of about 85%, with full recovery expected under the bankruptcy plan.
Some former users have criticized the process, noting that cash payouts are significantly lower than what their crypto holdings would be worth today amid market rebounds.
Eligible creditors will receive payments via their chosen distribution service providers like Bitgo, Kraken, or Payoneer, within one to three business days from September 30.
FTX’s collapse followed a liquidity crisis triggered by mass withdrawals and reports of mismanagement and misuse of customer funds by leadership, including founder Sam Bankman-Fried.
