The Fourth Round of FTX Payments Will Start in January 2026

• One of the affected FTX clients told about the progress of compensation payments.
• According to his data, the exchange has distributed $7.1 billion in three rounds.
• The next wave of payments will start in January 2026.

Crypto exchange FTX will hold the fourth round of compensation payments in January 2026. This was announced by Sunil Kavuri, one of the affected creditors of the company.

Kavoori said FTX has already successfully distributed $7.1bn to clients in three rounds. They kicked off:

• Feb. 18 – $454 million
• May 30 – $5 billion
• Sept. 30 – $1.6 billion

The total pool of funds is about $16 billion-$17 billion, according to the memo. According to Kavoori, the next round will start in January 2026 with applications confirmed in December.

The publication states that the first round of compensation was mostly small lenders with applications up to $50,000. This item is believed to have returned 119%. As a reminder, FTX pays out funds in cash, not in kind.

In subsequent rounds, larger lenders, including some clients of an affiliate of Alameda Research, have already received refunds. In the third wave, for example, refunds ranged from 78% to 120%.

However, Kavuri said the actual refunds are much lower – between 9% and 46% – given the rise in crypto asset prices in the years since the bankruptcy.

We previously covered a post from former FTX CEO Sam Bankman-Fried, who was sentenced to 25 years in prison. He stated that FTX and Alameda Research were never insolvent.