FTX Recovery Trust and FTX said they will begin their next distribution on July 31, sending about $900 million to convenience and non-convenience class claim holders under the exchange’s reorganization plan. Eligible creditors are expected to receive funds within one to three business days through accounts with BitGo, Kraken, or Payoneer. The upcoming payout marks the fifth round of distributions to FTX creditors. Under the plan, convenience class claims below $50,000 are set to receive 120% recovery, while other claims will receive distributions ranging from 103% to 105%. Since FTX filed for bankruptcy in November 2022, the trust has distributed about $10 billion. Former FTX CEO Sam "SBF" Bankman-Fried was sentenced to 25 years in prison in 2024, and his appeal of the conviction and sentence was rejected last month.
FTX Recovery Trust and FTX said they will start their next round of distributions on July 31, with about $900 million set to be paid to convenience and non-convenience class claimants under the reorganization plan.
Eligible creditors can receive funds through BitGo, Kraken, or Payoneer accounts within one to three business days. The payment will be the fifth distribution round for FTX creditors.
Under the FTX reorganization plan, convenience class claims below $50,000 will receive 120% recovery, while other claims will receive distributions of 103% to 105%. Since FTX filed for bankruptcy in November 2022, FTX Recovery Trust has distributed about $10 billion.
Former FTX CEO Sam "SBF" Bankman-Fried was sentenced to 25 years in prison in 2024. His appeal of the conviction and sentence was rejected last month.
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