FTX creditors will receive more than $ 5B from May 30

The FTX Recovery Trust has announced that it will begin to disburse more than $ 5 billion to the creditors as of May 30.

This payment round marks the second distribution to the eligible parties as the company continues its efforts to reimburse those affected by its collapse.

Refund efforts

On May 15 releaseThe company’s bankruptcy assets categorized creditors in five “convenience classes” with specified payment rates. Class 5A creditors will receive a 72%distribution, while class 5B will receive 54%.

Classes 6A and 6B, composed of small lenders and commercial partners of Alameda, are established for 61%distributions. Finally, Class 7 convenience claims will receive 120%.

John J. Ray III described the next payments as an important development, declaring:

“These first class distributions that are not condemned are an important milestone for FTX. The scope and magnitude of the FTX creditor base make this an unprecedented distribution process.”

He added that the announcement demonstrated the strong results of the recovery and coordination efforts of the team and emphasized that his approach focused on maximizing yields for creditors and addressing unresolved claims.

Eligible creditors are expected to receive their funds through their selected distribution services provider, whether Bitgo or Kraken, within one or three business days after May 30. However, customers who on board with a distribution service provider will lose the right to receive cash directly from bankruptcy change, with all funds sent through their chosen supplier.

The FTX Recovery Trust also said that the reimbursement schedule for the next classes of creditors will be announced in due time. If all claims are presented, total payments could reach up to $ 16.5 billion.

Separately, the FTX Bankrupty Estate initiated legal procedures in April against NFT Stars Limited and Delysium. The demands aim to recover supposedly retained digital assets of the heritage and are part of the company’s efforts to claim funds and maximize recoveries after its collapse of November 2022.

Criticality about the assessment method

FTX currently has about $ 11.4 billion assigned for reimbursements of creditors. The first refund round began on February 18, 2025 aimed at creditors with “convenience claims” below $ 50,000. Approximately $ 1.2 billion were paid in that phase.

The second distribution phase will now be directed to those with applications that exceed that amount. These include main investors and institutions that had millions in cryptography on the platform.

Despite the progress, the reimbursement model has faced criticism for calculating refunds based on cryptography values ​​at the time of bankruptcy presentation. This has led some creditors to receive less than the current market value of their holdings.