FTX begins $900M payout as creditors in 45 countries could lose their claims within 6 months
FTX plans about $900 million in distributions on July 31 for allowed claim holders in Classes 5A, 5B, 6A, 6B and 7 who cleared KYC, tax, sanctions and provider onboarding by the June 16 record date. Payments go through BitGo, Kraken or Payoneer and should arrive within one to three business days. Residents of many jurisdictions remain ineligible to choose a provider if no provider serves them yet, though coverage can change later. The provider choice is final and cannot be split; onboarding directs payment away from cash from FTX. Missing the June 16 cutoff means missing this round, and failing to onboard within six months after July 31 may forfeit the claim. The stated recovery percentages are based on allowed claim values, not current crypto market prices.
