FTX pays out again on July 31

FTX is set to release roughly $900 million to creditors on July 31 in its fifth distribution since the collapsed exchange filed for Chapter 11 protection in November 2022. According to an official press release from FTX Trading Ltd. and the FTX Recovery Trust, eligible creditors can expect funds from their chosen distribution provider, either BitGo, Kraken, or Payoneer, within one to three business days of that date.

Who Gets What

The fifth distribution allocates an incremental 9% to Dotcom customers, 5% to US customers, and 3% each to general unsecured and digital asset loan claimants. Convenience claimants, typically smaller retail creditors, reach 120% on a cumulative basis. Dotcom and US customers both now cross the 105% cumulative mark, meaning they have, in dollar terms, recovered more than they originally lost.

That milestone matters in context. The Block reports that FTX's bankruptcy estate has now distributed nearly $10 billion to creditors and other claimants since repayments began in 2025, following a $2.2 billion fourth round in March.

The Catch: Frozen in November 2022

The headline recovery figures come with a significant caveat. All claims are valued in November 2022 dollars, when $BTC traded at around $16,871 at the time of FTX's bankruptcy filing. The exchange has faced criticism for not repaying assets in kind, and that criticism carries weight given where Bitcoin trades today.

As legal analysts have noted, a creditor who held one Bitcoin on FTX recovers roughly $20,000 in cash at 119%, not one Bitcoin, which trades at a fraction of that in purchasing power terms compared to current market prices. The court approved petition-date valuation as required under US bankruptcy law, meaning creditors do not benefit from any of the price appreciation that followed the collapse. On paper, crossing 100% looks like a full recovery. In crypto terms, it is considerably less than whole.

Creditors who have not yet completed KYC verification, submitted required tax forms, and onboarded with an approved distribution provider will need to do so before a future record date to remain eligible for subsequent rounds.

Sources:
FTX Official Press Release, PR Newswire, July 17, 2026
The Block: FTX fifth distribution reporting
Astraea Counsel: Crypto Bankruptcy Asset Recovery Analysis