FTX Trading Ltd. and the FTX Recovery Trust commenced their fifth distribution of approximately $900 million to creditors on Friday, July 31, 2026. The payout forms part of the confirmed Chapter 11 Plan of Reorganization that took effect in January 2025, more than three years after the exchange collapsed in November 2022.

Eligible recipients are holders of allowed claims in the plan’s Convenience and Non-Convenience Classes who completed all required steps—including know-your-customer verification, tax documentation and onboarding with an approved payment processor—by the June 16, 2026 record date. Funds are being sent through BitGo, Kraken or Payoneer and are expected to arrive within one to three business days.

Recovery Rates by Claim Class

Under the plan’s waterfall structure, Class 5A Dotcom customer entitlement claims receive an incremental 9 percent in this round, lifting their cumulative distribution to 105 percent of allowed claim value. Class 5B U.S. customer entitlement claims receive an additional 5 percent and also reach 105 percent cumulative.

Class 6A general unsecured claims and Class 6B digital asset loan claims each receive 3 percent, bringing both to 103 percent cumulative. Class 7 convenience claims, which cover smaller accounts, stand at a cumulative 120 percent. Exact dollar amounts by class will be filed on the bankruptcy docket shortly after July 31; the estate has cautioned that final percentages may vary slightly because of rounding.

Previous Distributions and Overall Scale

The fifth round follows four earlier payouts. The first, in February 2025, totaled roughly $1.2 billion. The second, in May 2025, exceeded $5 billion. The third, in September 2025, amounted to approximately $1.6 billion to $1.7 billion. The fourth, in March 2026, distributed about $2.2 billion.

Taken together, cumulative distributions across the five rounds are estimated to approach or exceed $10 billion, placing the FTX recovery among the larger creditor returns recorded in a cryptocurrency bankruptcy.

Reserve Reduction and Remaining Obstacles

Ahead of the latest distribution the estate obtained court approval in mid-June 2026 to reduce its disputed-claims reserve by $600 million, from $2.4 billion to $1.8 billion. The move freed additional cash for creditor payments.

Not every claim has been paid. Disputed claims remain under reconciliation. Certain jurisdictions are still under review for potential restrictions. Creditors who participated in Australian proceedings and received partial payments face separate treatment. The Bahamas track, administered by joint official liquidators of FTX Digital Markets, operates on its own timetable even though it adopted the same June 16 record date.

Holders of allowed claims who have not completed onboarding with an approved provider within six months of the distribution may forfeit their right to payment. Tax-form deadlines carry the same consequence. No date has been announced for a sixth distribution, and reconciliation of remaining disputed claims continues.

Some former users have already reported receiving funds. One creditor publicly confirmed that Kraken released the allocation on the scheduled date after receiving the transfer from the recovery trust the previous week.

The estate has repeated its standing warning that it will never request a claimant to connect a crypto wallet. Creditors seeking status updates are directed to the official FTX Customer Portal.

The July 31 distribution marks a further step in the multi-year effort to return value to customers and other claimants after the 2022 failure of one of the industry’s largest platforms. Former executives Sam Bankman-Fried and Ryan Salame remained in federal prison as of late July, while Caroline Ellison was released earlier in the year after serving more than twelve months.