FTX Targets August 15 for $1.9B Creditor Payout – Biggest Crypto Bankruptcy Move Yet

FTX just dropped a bombshell date for its next creditor cash splash. The bankrupt exchange locked in August 15 for distributing another $1.9 billion to burned investors—proving even crypto's most spectacular train wrecks leave some survivors.

Here's the kicker: This isn't just another bankruptcy footnote. We're talking about one of the largest creditor payouts in crypto history—enough to make traditional finance bros choke on their overpriced lattes.

While Wall Street still treats crypto like a red-headed stepchild, FTX's creditors are about to get a crash course in decentralized justice. The money's moving—no bailouts, no hand-holding, just cold hard crypto karma.

Memo to the suits: Maybe blockchain bankruptcy works better than your precious Chapter 11. Just saying.

TLDR

• FTX confirms August 15 as deadline to qualify for 1.9 billion payout
• FTX payout begins September 30 with 1.9 billion reserved for claims
• Verified FTX claimants must register by August 15 to receive funds
• FTX releases 1.9 billion for approved claims after dispute reduction
• FTX claim deadline is August 15 for next round of creditor payments

FTX Trading Ltd. and the FTX Recovery Trust confirmed August 15, 2025, as the record date for its upcoming creditor payout. This next distribution will apply to holders of allowed Class 5 , Class 6 claims and qualified convenience claims. The $1.9 billion release comes from a court-approved reduction in disputed claims, unlocking funds for eligible recipients.

Next FTX Distribution

Record date: 15 Aug 25
Claim allowed
Passed KYC
Onboard with Distributor
Tax forms

Distribution date: 30 Sept 2025
~ $2bn paid to:

FTX claims > $50k
FTX claims Class 6 GUC

— Sunil (FTX Creditor Champion) (@sunil_trades) July 23, 2025

The bankruptcy court allowed FTX to reduce its disputed claims reserve from $6.5 billion to $4.3 billion. This adjustment made $1.9 billion in cash immediately available for distribution to approved creditors. As a result, FTX will proceed with its scheduled payouts beginning on September 30, 2025.

FTX stated that BitGo, Kraken and Payoneer will carry out the distributions as the official service providers. Recipients must complete Know Your Customer (KYC) procedures and submit necessary tax documents before receiving payment. Those who do not fulfill these pre-distribution requirements will not receive any funds in this round.

Class 5 Customer Entitlement Claims to Receive Distribution

Class 5 claim holders include customers with recognized entitlement claims on the defunct FTX.com platform. To qualify for the next payout, claimants must have passed verification and registered with one of the three distribution partners. Any failure to complete registration requirements will delay or prevent fund transfer.

FTX clarified that claims must be officially recognized and updated in the claims register by the record date. Transfers of claims must also meet a 21-day notice requirement without objection before they are eligible. Payments will only be issued to the confirmed transferee on record by August 15.

The platform emphasized that once funds are distributed to service providers, account holders are fully responsible for accessing and managing their payouts. FTX will not intervene in individual user account issues with Kraken, BitGo, or Payoneer. Each customer must contact the service provider directly if problems occur post-transfer.

General Unsecured and Convenience Claims Also Eligible

FTX also included Class 6 General Unsecured Claims in the next distribution wave. Additionally, convenience claims that were approved after earlier distribution rounds are now eligible. These claimants must also complete all pre-distribution checks and onboard with a provider.

FTX confirmed that only processed and verified claims will receive funds in this payout round. Any pending or disputed claims will be excluded until fully resolved and allowed. This MOVE ensures a streamlined and compliant distribution to verified creditors only.

Distributions remain subject to legal requirements based on each claimant’s jurisdiction. FTX warned that customers in countries with crypto restrictions may face delays or exclusions. The estate continues to evaluate country-specific risks before releasing any payments.