FTX Trading Ltd. and the FTX Recovery Trust have set August 15, 2025 as the official record date for the next round of payouts. The distribution is expected to begin around September 30, 2025 and will cover:
- Class 5: Customer Entitlement Claims
- Class 6: General Unsecured Claims
- Newly approved Convenience Claims
Key Update: $1.9 Billion Unlocked for Distributions
A Delaware bankruptcy court has approved reducing the disputed claims reserve from $6.5 billion to $4.3 billion — freeing up $1.9 billion for verified creditor payments.
Payment Process via Approved Providers
Payouts will be handled through BitGo, Kraken, and Payoneer. Creditors must complete Know‑Your‑Customer (KYC) checks, submit tax forms, and register with one of these providers by August 15. Disbursement will go to the official record-holder listed on that date, including any properly transferred claims.
Post-Payout Responsibility & Fraud Warning
Once funds are transferred to the selected provider, FTX considers its obligations fulfilled. Recipients must then manage withdrawals directly with that provider. FTX also warns of phishing scams and urges users not to share private keys or engage through unofficial channels.
Why It Matters
- This marks the third major distribution round—following prior payouts in February and May 2025.
- The process aims to recover up to $16.5 billion for creditors, with about $8 billion still pending resolution.
- Structured timelines and court oversight set a new precedent in large-scale crypto bankruptcy resolutions.
Next Steps for Claimants
Eligible creditors must:
1. Ensure their claims are recognized in the Class 5, 6, or Convenience categories by August 15.
2. Complete KYC, tax, and onboarding requirements with BitGo, Kraken, or Payoneer.
3. Track the distribution starting around September 30 and contact their provider directly for access.
FTX strongly emphasizes that failure to meet these deadlines or complete required verifications will result in exclusion from this payout round.
Stay updated on creditor recovery developments and crypto insolvency trends at BlitsNews.com.