FTX Trading Ltd. and the FTX Recovery Trust will send roughly $900 million to creditors starting July 31, 2026, marking the estate’s fifth major distribution since the exchange’s 2022 collapse.
Key Takeaways
FTX starts a $900 million fifth distribution to creditors on July 31, 2026.Dotcom and U.S. customer claims now reach 105% cumulative recovery under the plan.The Senate passed S. Res. 772 on July 16, rejecting clemency for Sam Bankman-Fried.The distribution follows the waterfall priorities set in the confirmed Chapter 11 Plan.
Class 5A Dotcom Customer Entitlement Claims receive an incremental 9% distribution, pushing cumulative recovery to 105%. Class 5B U.S. Customer Entitlement Claims get 5%, also reaching 105% cumulative. Class 6A General Unsecured Claims and Class 6B Digital Asset Loan Claims each receive 3%, hitting 103% cumulative. Class 7 Convenience Claims reach a cumulative 120% distribution.The Preferred Shareholder Remission Fund Trust will also issue an $18 million payment on July 31 to eligible preferred equity holders, bringing total PSRFT payments to $95 million. Preferred holders must complete ownership certification, KYC checks and tax forms before onboarding with Bitgo or Payoneer.
What Creditors Need to DoTransferred claims pay out only to the registered transferee after a 21-day notice period. FTX customers who used the FTX DM product receive separate communications about their claims.
FTX reiterated its phishing warning tied to this distribution. The company said it will never ask creditors to connect a wallet, and official updates come only through verified channels listed at support.ftx.com.
A Recovery Built on Market Timing and LitigationThe Chapter 11 Plan took effect January 3, 2025, clearing the way for structured payouts. The first distribution arrived in February at roughly $1.2 billion, followed by $5 billion in May 2025, $1.6 billion in September 2025, and $2.2 billion in March 2026.
What’s Next for CreditorsMany Dotcom and U.S. customers now sit at or above 105% recovery before interest, a rare outcome for a bankruptcy of this scale. The estate has not announced a date for a sixth distribution, but disputed claims resolution and final wind-down work continue.
Bankman-Fried is serving a 25-year sentence, with appeals still pending.
Some creditors have criticized the pace of the process, pointing to KYC hurdles and delays for international claimants. FTX has continued flagging phishing attempts tied to each distribution round, reminding customers that legitimate updates never require a wallet connection request.
