FTX Trading Ltd. and the FTX Recovery Trust announced on March 18, 2026, that approximately $2.2 billion will be distributed starting March 31 to eligible claim holders, marking a major step in the bankrupt crypto exchange's restructuring process. The distribution covers multiple claim classes, with some categories receiving full or even excess repayment.
Distribution Details and Recovery Rates by Class
Eligible creditors in both convenience and non-convenience classes must complete pre-distribution requirements—including Know Your Customer (KYC) verification, tax form submission, and onboarding via the FTX Customer Portal—to receive funds through Bitgo, Kraken, or Payoneer. The estate stated that funds should arrive within 1 to 3 business days from March 31.
Allocation levels differ by claim category based on priorities in the Chapter 11 plan. Class 5A (dotcom customer entitlement claims for international platform users) will receive an incremental 18%, bringing cumulative recovery to 96%. Class 5B (U.S. customer entitlement claims) will receive 5% to reach full 100% repayment. Classes 6A and 6B (non-customer obligations, including general unsecured claims and digital asset loan claims) each receive 15%, resulting in 100% cumulative recovery. Notably, Class 7 (small convenience claims) will exceed full repayment with a cumulative recovery of 120%.
Payment Methods and Eligibility
Funds are sent by the estate in U.S. dollars to distribution providers. Bitgo and Kraken allow users to withdraw fiat or convert into digital assets or stablecoins and transfer to external wallets. Payoneer facilitates direct fiat transfers to local bank accounts, subject to minimum thresholds and regional requirements. Creditors must select a single provider, and the choice cannot be changed after onboarding.
Preferred Equity Holder Payout Timeline
Separately, FTX set April 30, 2026 as the record date for the first payments to preferred equity holders, scheduled for May 29, 2026. Payments will be issued through the Preferred Shareholder Remission Fund Trust to holders who complete ownership certification, verification, and tax submissions. The trust emphasized that only holders registered on the FTX docket as of the record date will qualify.
This $2.2 billion distribution represents a significant milestone in the FTX bankruptcy saga, demonstrating that creditors—especially convenience claimants—can recover more than originally expected. The process provides a model for future crypto insolvency resolutions.