FTX to Pay $2.2 Billion to Creditors on March 31

• FTX to distribute $2.2 billion to creditors in the fourth repayment round.
• Some creditor classes will recover up to 100% or more, including 120% for convenience claims.
• Payments will be processed via BitGo, Kraken, or Payoneer within days.

FTX will distribute approximately $2.2 billion to creditors on March 31, marking the fourth round of repayments since the exchange collapsed in November 2022 and wiped out billions in customer funds almost overnight.

Eligible creditors who have completed the required verification steps should expect funds to arrive within one to three business days through their chosen distribution service provider, either BitGo, Kraken, or Payoneer.

Who Gets What

The fourth distribution covers several creditor classes with different recovery rates:

• Class 5A Dotcom Customer Claims receive an additional 18%, bringing their total recovery to 96% of losses at the 2022 petition date
• Class 5B US Customer Claims receive a final 5%, reaching 100% recovery in full
• Classes 6A and 6B, covering general unsecured claims and digital asset loans, each receive 15%, also reaching 100% recovery
• Class 7 Convenience Claims receive a cumulative 120% distribution, meaning creditors in this group are actually receiving more than they lost

The 120% figure for convenience claims reflects FTX’s attempt to compensate creditors not just for their losses but for the time value of money lost during the lengthy bankruptcy process.

What Creditors Need to Do

To receive payment, creditors must have completed the following before their distribution record date:

• Logged into the FTX Customer Portal at claims.ftx.com
• Completed KYC identity verification
• Submitted required tax forms
• Onboarded with BitGo, Kraken, or Payoneer

Preferred equity holders have a separate timeline. A record date of April 30, 2026, has been set for an initial payment on May 29, 2026.

The Scam Warning

FTX issued a specific warning alongside the announcement: phishing emails mimicking official FTX communications are circulating. The company reminded creditors that FTX will never ask anyone to connect a wallet. Any message requesting wallet access is a scam.

SBF Continues To Criticize

FTX has repaid retail creditors between 118% and 142% above the value of their holdings at the time of collapse. Sam Bankman-Fried, who was sentenced to nearly 25 years in prison after being found guilty on seven criminal fraud counts in November 2023, has continued to criticise the bankruptcy process from behind bars, claiming FTX was never truly insolvent. 

The bankruptcy estate has paid nearly $1 billion in fees to advisors and consultants during the three-year process, a figure Bankman-Fried’s legal team has cited as evidence of mismanagement.

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