FTX has started its fifth distribution to creditors, moving roughly $900 million to holders of allowed claims. The payout is the smallest of the five rounds since repayments began, following earlier distributions of $2 billion, $1.6 billion, and $2 billion.
Breakdown of the latest payout
Class 5A Dotcom customer claims get an additional 9%, bringing their cumulative recovery to 105%. Class 5B U.S. customer claims receive an extra 5%, also reaching 105% cumulative. General unsecured and digital asset loan claims each gain 3%, hitting 103% cumulative. Convenience class holders are at 120% cumulative recovery, though final percentages could shift slightly due to rounding.
All repayments are in dollars, not coins. That means the real value of what creditors get has trailed what the same assets would fetch today.
Why some creditors are still waiting
A separate $18 million payment goes to preferred equity holders, bringing the running total to $95 million. But not everyone can be paid. Some creditors have claims still under reconciliation, others are in jurisdictions under review, and some took partial payments through Australian proceedings. Those in flagged restricted jurisdictions are excluded while the legality of paying them is reviewed.
The Bahamas track and looming deadlines
The Bahamas track has the same record date — June 16 — and the same distribution start date — July 31. But the distribution rate for that track is still to be confirmed. Meanwhile, creditors who hold allowed claims but haven't onboarded with BitGo, Kraken, or Payoneer within six months may forfeit the right to be paid. Tax forms carry a separate deadline under the plan with the same consequence of forfeiture.
For now, the next distribution date hasn't been announced. Creditors who haven't completed onboarding or submitted their tax forms risk losing their payout entirely.
