FTX to Resume Creditor Payouts on Sept 30, 2025, With $1.9B Approved Following $4.3B Disputed Claims Reduction

FTX is set to resume creditor payouts on September 30, 2025, with $1.9 billion approved for the next distribution round, following a reduction in disputed claims reserves from $6.5 billion to $4.3 billion. This marks the third phase of the exchange’s broader repayment plan, which aims to return between $14.7 billion and $16.5 billion to creditors. To date, FTX has already disbursed $6.2 billion in two prior rounds—$1.2 billion in February and $5 billion in May—bringing total recoveries to $8.1 billion [1]. The court-approved funds will be distributed to verified claimants in Classes 5 (Customer Entitlement Claims), 6 (General Unsecured Claims), and certain Convenience Claims, with a record date of August 15, 2025, for eligibility [2].

The payout structure hinges on asset valuations as of November 2022, the date FTX filed for bankruptcy. This means creditors will receive fiat equivalents based on historical crypto prices rather than current market values. For example, Bitcoin was valued between $16,000 and $20,000 during the filing period, compared to its current price near $120,000. While this approach ensures consistency, it has sparked legal disputes, with some claimants arguing they are undercompensated. The court has, however, upheld the original valuation model [3].

Verification processes are critical for recipients. Users must complete KYC checks, submit tax documents, and meet deadlines via third-party platforms BitGo, Kraken, and Payoneer. Failure to do so may result in delays or forfeiture. Geopolitical restrictions also apply, with users in regions such as China, Russia, Ukraine, and Pakistan facing additional compliance hurdles. These jurisdictions account for approximately $470 million in claims, complicating disbursement timelines [4].

The $1.9 billion allocation reflects progress in FTX’s reorganization, though challenges persist. Only 0.1% of Bitcoin and 1.2% of Ethereum held by the exchange remain recoverable, underscoring the scale of asset losses during the 2022 collapse. Despite these hurdles, 98% of creditors are projected to receive at least 119% of their original claims based on 2022 valuations, a significant gain for most retail users. Institutional creditors, however, may see lower recoveries depending on asset types and contract terms [1].

FTX’s token, FTT, trades at $1.42 with a $466 million market cap, but it no longer plays a role in the bankruptcy estate’s recovery. The exchange’s ongoing efforts highlight an unusual case in crypto history, where creditors are not only recouping losses but also profiting. Insiders suggest a final major payout could occur by early 2026, contingent on asset liquidation progress and regulatory approvals [3].

Sources:

[1] [FTX to begin $1.9B creditor payout on Sept. 30](https://crypto.news/ftx-creditor-payment-sept-court-frees-1-9b-2025/)

[2] [FTX Sets Next Distribution Date Following Disputed Claims...](https://www.prnewswire.com/news-releases/ftx-sets-next-distribution-date-following-disputed-claims-reserve-reduction-302512444.html)

[3] [FTX Distributes $1.9B to Creditors by Sept. 30, 2025...](https://www.ainvest.com/news/ftx-distributes-1-9b-creditors-sept-30-2025-court-approved-disputed-claims-cut-2507/)

[4] [FTX To Start 3rd Round of Payouts in August, $1.9B Cash...](https://www.ccn.com/news/crypto/ftx-3rd-round-payouts-in-september-1-9b-claims/)