FTX’s $900M payout drops Friday, triggering 6-month countdown for creditors to onboard or forfeit funds entirely

FTX’s $900M payout drops Friday, triggering 6-month countdown for creditors to onboard or forfeit funds entirely

FTX will begin an approximately $900 million fifth distribution under its Chapter 11 plan on Friday, July 31, paying holders of allowed Convenience and Non-Convenience claims who met the June 16 record-date and applicable pre-distribution requirements. Eligible creditors should receive funds from BitGo, Kraken or Payoneer within one to three business days from July 31, according to FTX’s fifth-distribution notice. Related Reading FTX continues …

FTX Fifth Payout Lifts Total Creditor Recoveries to Nearly $10B

FTX has started its fifth distribution round, returning approximately $900 million to eligible creditors. Total repayments have now reached nearly $10 billion since the exchange entered bankruptcy in 2022. Most customer and unsecured creditor classes have now recovered more than 100% of their allowed claims. The estate is entering its final distribution phase, with additional payment dates expected later. This marks another milestone in one of t…