FTX to Start Fifth Creditor Payout on July 31, With About $900 Million in Claims

Smallest distribution so far

The size of the fifth round stands well below earlier payments made by the estate. FTX sent more than $5 billion in its second distribution in May 2025, followed by about $1.6 billion in September of that year. The fourth round totaled roughly $2.2 billion in March 2026. Against that backdrop, the July 31 payment is less than half the size of the previous distribution.

Under the latest schedule, allowed Class 5A Dotcom customer claims will receive another 9%, bringing cumulative recovery to 105%. Allowed Class 5B U.S. customer claims will add 5%, also reaching 105% in total. General unsecured claims and digital asset loan claims will each receive an additional 3%, taking both classes to 103% cumulatively.

FTX has also said convenience class holders are at 120% cumulative recovery, although it noted that final percentages may vary slightly because of rounding. The estate added that these repayment figures are measured in dollars rather than in crypto assets, meaning the recoveries may still trail the current market value of the assets customers once held.

Separate payment for equity trust

Alongside the creditor distribution, a separate $18 million payment is scheduled for preferred equity holders on the same date. That would raise the trust’s cumulative total payout to $95 million.

FTX said class-by-class totals are expected to be posted to the court docket shortly after July 31.

Why some creditors still are not being paid

Not all claimants are eligible for this round. Claims that have not been allowed remain disputed, and FTX identified several recurring reasons for that status. These include proofs of claim that are still being reconciled, jurisdictions that remain under review, and customers who previously accepted partial payments through the Australian proceedings.

The Bahamas process is being handled separately. Joint official liquidators of FTX Digital Markets are using the same June 16 record date and July 31 distribution start, but the payment rate for that track has not yet been confirmed. Creditors in jurisdictions that liquidators consider potentially restricted remain excluded while the legality of making payments there is reviewed.

Onboarding and deadline risks

For creditors whose claims have been allowed, payment still depends on completing required steps. FTX indicated that holders who do not onboard with BitGo, Kraken, or Payoneer within six months may lose the right to receive payment. Tax form deadlines under the plan carry the same potential consequence.

The record date for the fifth distribution was June 16, and payments begin July 31 for those who had completed the required steps, including KYC, by that date. Reporting around the process has also highlighted that some creditors, including some in the Bahamas, say they remain stuck in identity verification despite having submitted forms.

The fifth distribution underscores how the FTX bankruptcy has shifted from large-scale asset recovery toward the more complicated work of resolving disputed claims, jurisdictional limits, and compliance requirements for creditors still waiting to be paid.