Third Time, Still Paying: FTX Lines up $1.6 Billion for Creditors

FTX’s bankruptcy estate will ship another $1.6 billion to creditors in a third distribution, turning the long unwind into a steady drip of real money at last.

Creditor Glow-up Continues: FTX Tees up $1.6 Billion More

Round three is designed to top up eligible, allowed claims across the board, adding fresh cash to customer classes and unsecured creditors who’ve already cleared earlier steps. It’s the latest follow-through from FTX‘s Chapter 11 plan, and it keeps the estate’s payback cadence on tempo—less courtroom opera, more direct deposits.

Payments will route through service providers such as Bitgo, Kraken, and Payoneer, with recipients using the customer portal to confirm details, complete know-your-customer (KYC) checks, and file any tax forms the process requires. FTX also warned of phishing emails too, as the estate said it will never ask anyone to “connect a wallet.”

Different claim classes will see different top-ups, with dotcom and U.S. customer claims taking priority per the waterfall, and general unsecured claims and digital-asset loan claims scooping their share as funds roll down. Convenience claims—the small-claims express lane—continue to live up to the name.

Record dates, cutoffs, and transfer notices still apply, meaning newly purchased claims don’t magically qualify until they’re properly registered with the claims agent. If you sold or reassigned a claim, the paperwork needs to match reality before the money moves.

Behind the scenes, the estate keeps converting crypto assets to cash and closing settlements. For a creditor base that’s been parked in bankruptcy purgatory since 2022, consistency beats suspense—and this round keeps the meter running.

Bottom line: another $1.6 billion is en route, the payout machine is still humming, and creditors get one more step closer to done. No confetti cannon, just progress—with a paper trail thick enough to make an auditor blush, for now, anyway. Many believe these payouts are bullish as FTX creditors are likely to enter back into the crypto market with fresh powder.