Bankrupt cryptocurrency exchange FTX is preparing to issue its third major round of repayments to creditors. $1.6 billion is scheduled to be paid out starting September 30, 2025, under its Chapter 11 reorganization plan. The announcement was made by FTX Trading Ltd. and the FTX Recovery Trust in a press release on September 19, 2025.
Creditors who have completed the required steps will receive payments starting on that date, with funds landing in their accounts within one to three business days after distribution. Creditors who have verified their claims via the FTX claims portal, completed KYC (Know Your Customer) verification, and submitted tax forms will be eligible for repayment. Payments will be made via approved distribution service providers like BitGo, Kraken, or Payoneer.
Who gets what
Different classes of creditors will receive different payout percentages:
- U.S. Customer Entitlement Claims will receive a 40% distribution in this round, bringing their cumulative recovery to 95% of their claims.
- “Dotcom” / International customer claims (Class 5A) will get an additional 6%, bringing their cumulative recovery to 78%.
- General unsecured claims and digital asset loan claims will each receive 24%, pushing their cumulative recoveries up to 85%.
- A special “Convenience Class” of small claimants will get 120% of their original claims.
This latest payout follows two earlier distributions in 2025, which together have returned over $6 billion to FTX creditors. Because of this progression, many creditors are nearing full recovery of what they claimed under the 2022 collapse.
However, there is also some debate in the community over the valuation basis, i.e. claims are settled using asset values from November 2022, which were much lower than today’s prices. Some creditors object that this means, adding that they are not fully benefiting from subsequent crypto price gains.