FTX to Launch Fifth Round of Creditor Distributions on July 31, Approximately $900 Million

FTX Recovery Trust and FTX announced that the next round of fund distributions will begin on July 31, allocating approximately $900 million to holders of Convenience Class and other claims under the reorganization plan. Eligible creditors can receive funds within 1 to 3 business days via their BitGo, Kraken, or Payoneer accounts. This distribution marks the fifth round of repayments to FTX creditors. According to the FTX reorganization plan, Convenience Class claims under $50,000 will receive a 120% payout, while other claims will receive between 103% and 105%. Since FTX filed for bankruptcy in November 2022, the FTX Recovery Trust has distributed approximately $10 billion. Former FTX CEO Sam “SBF” Bankman-Fried was sentenced to 25 years in prison in 2024, and his appeal against his conviction and sentence was dismissed last month.