FTX Releases Additional $1.9 Billion for Affected Creditors

The bankrupt cryptocurrency exchange FTX has announced a third round of creditor payments, scheduled for September 30, according to a press release.

The bankruptcy court has approved a reduction in the claims reserve from $6.5 billion to $4.3 billion, allowing the platform to distribute an additional $1.9 billion to affected clients.

The claims cutoff date is August 15. Only users whose claims were registered by this date will be eligible to receive funds. Payments will be processed through BitGo, Kraken, and Payoneer. Creditors must complete KYC checks, submit tax forms, and register on one of the platforms.

As of July, FTX had disbursed $6.2 billion to clients across two distributions — $1.2 billion in February and $5 billion in May. The overall restructuring plan aims to return between $14.7 billion and $16.5 billion.

Ninety-eight percent of creditors will receive at least 119% of their claims as of the bankruptcy in November 2022. Many creditors have criticized this calculation method, as current market prices for crypto assets significantly exceed those from two years ago.

“Problematic” Countries

On July 4, FTX proposed measures for assessing claims in “problematic” jurisdictions. The list included 49 countries, such as China, Russia, Ukraine, Pakistan, and Saudi Arabia, where local creditors might not receive any payments.

However, at a hearing on July 22, the court rejected the clause for “immediate annulment” of claims and required FTX to revise the plan. Client claims may be transferred to another jurisdiction, such as Hong Kong.

Today’s FTX Hearing Summary:

For creditors in a “restricted jurisdiction” (like China, possibly Russia):

Their funds will not be immediately forfeited as originally proposed by the FTX Recovery;

They may have options of moving claim to a non-restricted country

— FTX Historian (@historian_ftx) July 22, 2025

As of April, FTX liquidators had rejected nearly 400,000 compensation claims totaling $2.55 billion.