FTX to Begin Fifth Creditor Payout on July 31, Distributing $900 Million

FTX, the bankrupt cryptocurrency exchange, will begin the fifth round of creditor repayments on July 31, with about $900 million set to be distributed.

Cointelegraph reported on July 17 that the FTX Recovery Trust announced the payout for creditors in the convenience claims and general claims classes under the reorganization plan. Funds will be delivered through BitGo, Kraken and Payoneer accounts within one to three business days.

Repayment rates vary by claim size. Convenience claims below $50,000 will receive 120% of principal, while larger claims will be paid at 103% to 105%.

Former FTX Chief Executive Officer Sam Bankman-Fried is serving a 25-year prison sentence after being convicted in 2024 of misusing customer funds. He had sought a pardon from U.S. President Donald Trump, who said in a January interview that he had no intention of granting one. The U.S. Senate also unanimously adopted a resolution this week opposing a pardon.