On September 30, the broken Exchange will carry out this round of payments.
There are still around 15,000 million dollars to return.
The FTX cryptocurrency exchangex announced that the next payment to its creditors will begin on September 30, 2025. The distribution corresponds to a new round of refunds authorized by the bankruptcy court and is part of the liquidation plan approved in the ongoing judicial process.
The holders of claims of class 5 (customers with the right to compensation) and class 6 (generally guaranteed general creditors), in addition to recently approved convenience claims and have not received previous payments are included in this round.
FTX too reported That the court authorized him to reduce the reservation fund for claims in dispute, decreasing it from 6,500 million dollars to 4.3 billion. This releases near 1.9 billion dollars in cash that can now be used to compensate for creditors included in this new payment phase.
The distribution will be executed by the service providers designated by FTX: Bitgo, Kraken and Payoneer. The beneficiaries must have previously complied with the identity verification requirements (KYC), deliver the corresponding tax forms and be correctly registered in any of the mentioned platforms to receive their funds.
For transferred claims, payments will only be made to the new holder to appear in the Official Registry managed by the notification agent and claims, provided that the 21 -day objection period has expired before August 15. Creditors who still have doubts about their funds must directly contact the corresponding supplier customer service.
This new distribution occurs in a context where there are still about $ 15,000 million to return. According to previous statements by lawyer Andrew Dietderich, the company faces claims that, as a whole, add more than 27 trillion dollars, as cryptooticies reported. However, much of these requests have been qualified as deceptive or fraudulent, which has delayed the process of review and authorization of payments.
Since May of this year, FTX Digital Markets had already started refunds for individual claims exceeding $ 50,000. At that stage, a 11,400 million reserve fund was used to compensate for the main creditors. Thus, the distribution that will be made in September represents the continuation of the fund restitution processwhich could impact the cryptocurrency ecosystem due to the volume of dollars transferred to platforms linked to the industry.
The funds will be delivered in Fíat currency, mostly in US dollars, what could translate into a liquidity injection towards cryptocurrency exchanges. This dynamic generates expectation in the market, since some beneficiaries could turn their payments into cryptocurrencies once they receive them in their accounts.
FTX, which was officially declared in bankruptcy in November 2022, continues under judicial supervision through the FTX Recovery Trust. The distribution plan has been adjusted after reviewing the legitimacy of claims and the availability of liquid assets, with the goal of moving towards the final resolution of the case.
