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FTX Commences Second Distribution of More than $5 Billion to Convenience and Non-Convenience Classes

  • FTX commenced the second distribution of more than $5 billion to holders of allowed claims on May 30, 2025, from Wilmington, Delaware.
  • This distribution follows the Chapter 11 Plan of Reorganization and requires claimants to have completed pre-distribution steps such as KYC verification and tax form submission.
  • Distributions will be facilitated by BitGo and Kraken and will provide varying percentages to claim classes, including 72% for Dotcom customers and 120% for Convenience Claims.
  • Plan Administrator John J. Ray III highlighted that the latest update reflects ongoing advancements in reimbursing FTX’s customers and creditors, emphasizing sustained efforts to recover additional assets.
  • Funds are expected within 1 to 3 business days and arriving in stablecoins to provide immediate liquidity, with further payment dates to be announced later.
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FTX Commences Second Distribution of More than $5 Billion to Convenience and Non-Convenience Classes

Customers in Second Distributions Expected to Receive Funds within 1-3 Business Days

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Blockchain & Cryptocurrencies Tabloid broke the news in on Wednesday, May 28, 2025.
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