FTX's bankruptcy estate is kicking off its fifth round of creditor payouts on July 31, sending out roughly $900 million. That brings total distributions since payments began in February 2025 past $10 billion.
Eligibility hinges on a June 16 record date — creditors had to finish verification and pick a payout channel (BitGo, Kraken or Payoneer) ahead of time. Customers of the international FTX.com platform get another 9% of their claim, pushing cumulative recovery to 105%. US customers get 5% more to reach the same 105%. General unsecured claims and digital-asset loan claims get a smaller 3% bump, landing at 103%.
Numbers above 100% look like a windfall, but they aren't one. The percentages are calculated against what each claim was worth back in November 2022, when bitcoin traded around $16,000-17,000, not today's prices. Anyone who lost bitcoin or ether on FTX is being repaid at a nearly four-year-old exchange rate, so in real terms, given how far the market has moved since, plenty of creditors are still net losers.
Meanwhile, Sam Bankman-Fried's odds of a pardon keep shrinking. The Senate rejected a clemency push for the former FTX chief, who's serving 25 years, and the White House has signaled Trump isn't planning to intervene. Separately, FTX preferred shareholders will get $18 million through a different trust. The next court hearings in the case are set for July 23 and August 16.
This is the fifth payout round since distributions started in February 2025, and the estate shows no sign of slowing down — recovered assets and settlements with former FTX insiders keep feeding the pool.
