FTX Trading Ltd. and the FTX Recovery Trust will release another round of creditor payments on Monday, September 30. This third distribution under the Delaware bankruptcy court’s Chapter 11 plan will send about $1.6 billion to eligible claimants who have met pre-distribution requirements.
Third Payout Follows Earlier Waves
This new round builds on two earlier payments in 2025. In February, the trust issued an initial payout to the “Convenience Class,” covering creditors with claims of $50,000 or less. A second, broader distribution in May reached more than $5 billion. Kraken and BitGo continue to assist as distribution providers under court oversight.
Together, these three tranches are part of a plan aimed at fully repaying approved claims, with many creditors also receiving interest. However, all recoveries are calculated in U.S. dollars as of November 2022, rather than in the original cryptocurrencies held.
Adjustments to Distribution Pool
The trust had court approval to distribute up to $1.9 billion for this September wave after lowering reserves set aside for disputed claims. With only $1.6 billion now earmarked for release, the remainder stays in reserve for ongoing claim reconciliation and contingencies.
FTX has previously estimated total distributable assets between $14.5 billion and $16.3 billion, much of it raised through asset sales and litigation involving Alameda Research and other affiliates. These projections suggest additional staged payments will continue into 2025.
Market analysts note that the immediate impact depends on whether recipients choose to reinvest in crypto or hold onto cash. So far, the predictable schedule of payouts has helped limit broader market disruptions.
Specialists emphasize that the final outcome hinges on resolving disputed and government-related claims, as well as the pace of monetizing remaining assets. Favorable resolutions could accelerate further distributions, moving the bankruptcy estate closer to full closure after years of uncertainty.
