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FTX Sets March 31 Start for $2.2 Billion Fourth Payout to Creditors

The court-approved plan routes U.S. dollar payouts through BitGo, Kraken or Payoneer to deliver full recoveries for several creditor classes.

FTX to distribute $2.2B to creditors as repayments near completion
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Overview

  • Distributions begin March 31 via BitGo, Kraken or Payoneer, with eligible claimants expecting funds within one to three business days.
  • This round lifts U.S. customer claims to 100% recovery, Dotcom customer claims to 96%, and both general unsecured and digital asset loan claims to 100%, while Convenience claims reach a cumulative 120%.
  • To receive payment, creditors must complete portal onboarding, KYC verification and required tax forms, and selecting a provider constitutes an irrevocable election to be paid through that platform.
  • All payments are made in U.S. dollars to the distribution providers, which then offer withdrawal or conversion options for recipients.
  • Preferred equity holders face an April 30 record date to qualify for a May 29 payment, as analysts also call the $2.2 billion release a notable liquidity event and some creditors dispute petition-date valuation methods.