FTX Creditor Claims Reach $11 Billion, $1.4 Billion Unresolved

FTX creditor claims have reached an estimated $11 billion, with $1.4 billion currently unresolved. This information was revealed in a social media post by creditor activist Sunil Kavuri on July 7. The disputed claims include $470 million tied to jurisdictions with restrictions on cryptocurrency use or possible sanctions exposure, with Chinese creditors holding the largest portion at $380 million. Additionally, $290 million are linked to claimants who failed to complete Know Your Customer (KYC) procedures in The Bahamas. Another $660 million of claims have been flagged for potential litigation or are undergoing reconciliation.

The FTX Recovery Trust, in court filings dated June 27, detailed the composition of these disputed claims. The Disputed Claims Reserve has been revised from its original estimate, now standing at $4.6 billion, down $1.93 billion from the initial amount. The Trust is expected to seek court approval for a separate distribution process for sanctioned or restricted claimants. The total pool of disputed claims remains under review, and the Trust continues to reconcile outstanding amounts before finalizing any disbursements to eligible creditors.

In a significant development, former NBA star Shaquille O’Neal has agreed to pay $1.8 million to settle claims brought by FTX investors. This proposed deal marks the first celebrity settlement related to the failed exchange’s promotion. O’Neal was named in a May 2023 lawsuit over his endorsement of FTX in a 2022 television advertisement. Plaintiffs alleged that his promotion contributed to investor losses following the exchange’s collapse that same year. O’Neal’s legal team confirmed the resolution, stating they were “pleased to have this matter behind us.”

Other public figures, including Tom Brady and Kevin O’Leary, have also been sued for their ties to FTX but have not reached settlements. In May, a Florida judge dismissed several related claims against other celebrity defendants. The FTX case has become a reference point for how crypto failures ripple beyond core financial claims. Legal actions against promoters, shifts in recovery expectations, and cross-border enforcement efforts are testing how jurisdictions manage digital asset collapses in practice.