FTX Targets August 15 for Next Payout Wave – Claimants, Mark Your Calendars!
Bankrupt crypto exchange FTX just dropped a date that matters—August 15 is D-Day for eligible claimants waiting on their next distribution. No vague promises here—just a hard deadline for what’s left of the pile.
Who’s getting paid? The ‘eligible’ crowd (read: those who jumped through enough legal hoops). How much? That’s the billion-dollar question FTX’s lawyers are still nickel-and-diming.
Pro tip: If you’re expecting a life-changing wire, maybe don’t hold your breath. This is crypto bankruptcy theater—where ‘full recovery’ often means getting back just enough to buy a sad desk lunch.
FTX creditors to receive claims by September 30
On Wednesday, the defund FTX exchange announced the "Next Distribution" record date, set for August 15, with distribution expected to commence on or about September 30, in its press release.
The window allows holders to claim Class 5 Customer Entitlement Claims and Class 6 General Unsecured Claims, as well as outstanding Convenience Claims, that became allowed after earlier cutoffs and have not yet been paid.
In the same press release, FTX announced that it had received authority from the Bankruptcy Court to reduce the disputed claims reserve by $1.9 billion, from $6.5 billion to $4.3 billion, releasing cash to be distributed to holders of allowed claims in the Next Distribution.
FTX's Distribution service providers will be BitGo, Kraken, and Payoneer for the Next Distribution. Creditors should continue to complete their Know Your Customer (KYC) verification for the payments.
