Catenaa, Monday, June 02, 2025-Bankrupt crypto exchange FTX has started distributing a second round of payouts on Friday (30) totaling approximately $5 billion to its former customers, marking a major step in its ongoing Chapter 11 bankruptcy proceedings.
The announcement was made Friday, with funds expected to arrive in users’ accounts within one to three business days.
The payout process is being facilitated by crypto custodian BitGo and exchange Kraken, who were named official distribution partners under the court-approved restructuring plan.
This latest disbursement comes as part of a broader repayment strategy aimed at returning up to $16.5 billion to creditors.
FTX Trading Ltd., the exchange’s parent company, said the payouts are based on the dollar value of account holdings at the time of its November 2022 collapse.
While some users have expressed satisfaction with the move, others have voiced frustration over not receiving digital assets, which have significantly appreciated since the crash.
According to the plan, users are expected to recover 74% of their claim’s dollar value in this round. Smaller claim holders could receive as much as 119% of their approved claims, including interest.
The estate’s recovery success is credited to appreciating assets, including stakes in AI firm Anthropic, brokerage Robinhood, and large reserves of cryptocurrencies such as SOL and SUI.
The FTX team has warned users to stay vigilant against phishing attempts during the payout window, as scammers often target such events to exploit victims.
