FTX to begin new $5 billion distribution to creditors on May 30

• FTX to Pay $5 Billion to Creditors in Cryptocurrency
• Distribution will be done via Kraken or BitGo
• Payments based on FTX bankruptcy date

The bankruptcy estate of FTX confirmed which will start the second cycle of payments to creditors starting on May 30, 2025. The new round of refunds should exceed US$ 5 billion and will be directed to creditors who have recognized amounts above US$ 50 thousand.

The distribution will be carried out through the Kraken and BitGo platforms, with the funds expected to be released within one to three business days after processing. The action follows the approved reorganization plan and expands the scope of payments initiated in February, when FTX compensated customers with smaller claims.

According to previous court documents, FTX, now under CEO John Ray III, has amassed about $11,4 billion to cover debts owed to creditors. However, the amounts paid will be based on digital asset prices prevailing in November 2022 — the time period when the company filed for bankruptcy.

FTX Distribution: 30th May
$5bn to be distributed

Claims > $50k: 72% – intl
Claims > $50k: 54% – US
Claims =< $50k: 120%

— Sunil (FTX Creditor Champion) (@sunil_trades) May 15, 2025

This means that, even with the recent appreciation of cryptocurrencies such as Bitcoin and Ethereum, creditors will receive amounts calculated based on much lower prices at the time of the brokerage's collapse.

Payout rates vary depending on the type of credit. Claims from customers on the international platform will receive 72%, while customers on the American version will be entitled to 54%. General unsecured claims and crypto-asset loan claims will receive 61%, and so-called convenience credits will receive a return of 120%.

“The scope and magnitude of FTX’s creditor base make this an unprecedented distribution process,” the CEO said in a statement. “Today’s announcement reflects the extraordinary success of the recovery efforts and coordination of our team of professionals.”

To receive payment, lenders need to fulfill a series of requirements, such as logging into the FTX Client Portal, undergoing KYC verification, submitting tax forms, and integrating with one of the distribution providers.

Those who choose to receive via BitGo or Kraken will give up the right to receive the amounts directly from FTX, transferring this responsibility to the chosen provider.