FTX Bankruptcy Repayment: $1.6B Creditor Payout Starts September 30

FTX's bankruptcy estate will distribute $1.6 billion to creditors starting September 30, marking the third major payout since the crypto exchange's collapse nearly three years ago. The FTX Recovery Trust confirmed payments will begin for verified creditors through BitGo, Kraken, or Payoneer, with funds arriving within three business days. U.S. customers will receive 40% in this round, totaling 95% recovery so far, while international "Dotcom" users get 6%, reaching 78% cumulative. General unsecured claims see 24% (85% total), and convenience claims are paid at 120% of face value. This follows over $6 billion already returned to creditors after FTX's November 2022 collapse, which triggered a crypto bear market. Founder Sam Bankman-Fried is serving a 25-year prison sentence for fraud.