FTX Trading Ltd. announced. The FTX Recovery Trust said on Friday that about $900 million would be paid to creditors on July 31. This is the company’s fifth major payment since the start of the failed stock exchange’s Chapter 11 restructuring in early 2025.
Creditors who are eligible for payment under the plan’s convenience and non-convenience categories and who have completed all prepayment formalities by the enrollment date of June 16, will be repaid within 1-3 business days after July 31 via BitGo, Kraken or Payoneer, according to FTX’s official statement. Total premiums for the drug will exceed $10 billion after this round, The Block reports.
FTX creditors receive other compensation on a class basis
The additional percentages for the fifth distribution vary by category. Claims from dot-com customers (Category 5A) receive an additional 9%, bringing the cumulative recovery to 105% of the allowable claim value.
US customer claims (Class 5B) receive an additional 5% to reach the same level of 105%. General unsecured claims and digital asset loan claims each receive 3%, reaching 103% cumulatively. Convenience category creditors, which represent the small individual claimants who make up the majority of FTX’s creditor base, have a cumulative ratio of 120%.
An additional $18 million is scheduled to be distributed to preferred stockholders on July 31 by the Preferred Stockholders Trust, resulting in a total of $95 million in PSRFT payments. This should not be added to the distribution of creditors in respect of customer recoveries.
The fifth distribution was made possible in part because the court agreed to reduce the amount reserved against the disputed claims from $2.4 billion to $1.8 billion.
Creditors Still Lose Crypto Rally Despite 105% Recovery
Recovery numbers above 100% come with important qualifications. All FTX recoveries are calculated using the dollar-denominated value of each creditor’s estate as of November 11, 2022, when the exchange filed for bankruptcy. Bitcoin traded at around $16,000 that month.
A creditor who was holding 1 BTC on FTX at the time of the collapse will receive approximately $16,800 in cash at a 105% recovery today. The same 1 BTC would be worth more than $65,000 at current market prices. Similar calculations apply to ETH, SOL, and other tokens liquidated for funding distributions.
As Cryptopolitan reported earlier In third wave coverage, the 118-142% recovery frame has been a consistent point of contention among the FTX creditor community. Real estate has drawn specific criticism for being repaid in dollars rather than in kind, effectively excluding creditors from the crypto rally of 2023 to 2026. Distribution mechanics are also important. Payoneer largely delivers fiat currencies directly to bank accounts, meaning creditors who receive payments through that channel get dollars instead of cryptocurrencies.
As for the remaining claims, the process will extend until 2027
The smaller size of the fifth distribution compared to previous waves reflects a decline in the bankruptcy process. The first wave distributed approximately $1.2 billion in February 2025 to convenience class creditors. The second wave reached $5 billion in May 2025. The third wave delivered $1.6 billion in September 2025. The fourth wave was the largest single distribution at $2.2 billion in March 2026. This fifth wave of $900 million is the smallest major distribution since the operation began.
The Fund is now addressing remaining disputed claims, illiquid project investments, and international recovery matters which will extend the timing into 2027 for some categories. FTX has not set a record date or size for its next creditor distribution, which will depend on available cash, resolution of disputed claims, and further recoveries.
The Recovery Fund continues to warn creditors of fake claims portals that impersonate the official process.
Sam Bankman Freed, whose fraud led to the stock market crash in November 2022, is serving his 25-year sentence. Carolyn Ellison, former CEO of Alameda Research, was released in May 2026.
