FTX is set to begin its second round of creditor repayments on May 30, distributing over $5 billion to eligible claimants. Depending on their classification, creditors will receive between 54% and 120% of their claims, though all payouts are based on crypto prices from November 2022, when the exchange filed for bankruptcy.
The FTX bankruptcy estate has divided creditors into five groups with defined repayment rates. Class 7 claimants (convenience claims) will be fully repaid at 120%, while others—including small lenders and Alameda Research partners—will receive between 54% and 72%.
Creditors will receive funds via BitGo or Kraken, their chosen distribution provider, within one to three business days after payments begin. Once a provider is selected, direct payouts from FTX are no longer available.
This phase follows an earlier $1.2 billion distribution in February 2025, aimed at creditors with claims under $50,000. With approximately $11.4 billion currently allocated for total repayments, the estate estimates payouts could reach up to $16.5 billion once all claims are processed.
FTX has also launched legal action to recover withheld digital assets from NFT Stars Limited and Delysium as part of ongoing efforts to maximize creditor recovery. Despite the progress, some creditors have criticized the decision to use 2022 crypto prices, which means many will receive less than their holdings’ current market value.
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