FTX Sets Next Data for Creditor Distribution

FTX Trading Ltd. and the FTX Recovery Trust have announced August 15, 2025 as the official record date for their next round of distributions.

The payment process, referred to as the Next Distribution, is expected to begin around September 30, 2025, targeting eligible holders of Class 5 Customer Entitlement Claims, Class 6 General Unsecured Claims, and newly allowed Convenience Claims.

In a significant development, FTX received court approval to reduce its disputed claims reserve by $1.9 billion, lowering it from $6.5 billion to $4.3 billion. This decision frees up substantial cash to be distributed in the upcoming round.

BitGo, Kraken, and Payoneer to handle distributions

Payouts will be facilitated by FTX’s Distribution Service Providers: BitGo, Kraken, and Payoneer. Claimants must complete KYC verification, submit tax forms, and onboard with a provider in order to receive their distribution.

FTX emphasized that only holders of allowed claims who meet all pre-distribution requirements will receive payouts. For those with transferred claims, distributions will go to the recognized transferee holder listed on the official claims register as of the August 15 record date, assuming no objections were filed during the required 21-day notice period.

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Once funds are sent to service providers, FTX will consider its obligation fulfilled. Claimants are responsible for accessing their distributions through the selected provider.

As the claims process moves forward, FTX urges creditors to ensure all necessary steps are completed to avoid delays in receiving their funds.

Source

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.