FTX to distribute $900M to creditors in fifth payment round
FTX Recovery Trust will begin its next creditor distribution on July 31, paying about $900 million to claimants in the “convenience” and “non-convenience” classes. Eligible creditors will receive funds through BitGo, Kraken, or Payoneer within one to three business days. This is the fifth repayment round. Under the plan, convenience claims under $50,000 get 120% reimbursement, while larger claims receive about 103% to 105%. After a March payout of $2.2 billion, the trust has returned roughly $10 billion since FTX’s November 2022 bankruptcy. Former FTX executives Sam Bankman-Fried and Ryan Salame remain in prison for their roles in the misuse of customer funds. Bankman-Fried’s conviction and 25-year sentence were upheld on appeal, making a presidential pardon increasingly unlikely. A Senate resolution also opposed clemency for him.
