FTX Continues Its Repayment Plan With a Fifth Distribution, Bringing the Total to $10 Billion

Nearly four years after the collapse of the platform, the creditor repayment process continues to reach new milestones. FTX has confirmed the launch of a fifth wave of distributions, set to begin at the end of the month. This new operation represents about 900 million dollars and is part of the judicial recovery procedure initiated after the 2022 bankruptcy. Since the start of repayments in 2025, cumulative payments now approach 10 billion dollars in favor of creditors and other stakeholders.

FTX Launches a Fifth $900 Million Distribution

On Friday, the crypto exchange FTX announced that it would start distributing approximately 900 million dollars to its creditors starting at the end of the month. This operation constitutes the fifth wave of repayments planned as part of the bankruptcy procedure conducted under chapter 11. Last March, the platform had already paid 2.2 billion dollars to the concerned beneficiaries. Now, the total amount distributed since the start of the program in 2025 reaches nearly 10 billion dollars.

As with the previous distribution, FTX plans a rapid processing of payments for eligible creditors. Beneficiaries belonging to the “Convenience” and “Non-Convenience” categories should receive their funds within three business days. Payments will be made by providers BitGo, Kraken, or Payoneer. This organization adopts the same procedure used during previous repayment waves.

Creditors Continue to Receive Their Repayments

The “Convenience” category mainly includes retail traders as well as small creditors, who represent the majority of people affected by the FTX bankruptcy. Conversely, the “Non-Convenience” category concerns larger claims or those with a more complex structure. This distinction determines the processing of claims within the repayment plan. Eligible beneficiaries thus continue to receive their payments according to the provided modalities.

Since the program launched, FTX has aimed to compensate retail creditors between 118% and 142% of the value of their holdings at the time of the platform’s collapse in 2022. However, some have criticized this approach, arguing that repayments should have been made in assets rather than cash value.

Moreover, in May, the law firm Fenwick & West, the former main external advisor of FTX US, agreed to pay 54 million dollars to settle accusations related to its role before the bankruptcy and the fraud attributed to Sam Bankman-Fried.

With this fifth distribution, FTX thus continues executing its repayment schedule. The next steps will assess the progress of the recovery plan and continue payments aimed at the various creditor categories.