#FTXRefunds

As of May 31, 2025, FTX has initiated its second round of customer refunds, marking a significant step in the exchange's bankruptcy proceedings.

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💸 Second Distribution Details

On May 30, FTX began distributing over $5 billion to creditors as part of its court-approved recovery plan. This phase follows an initial payout in February 2025 and is managed by custodians BitGo and Kraken. Eligible claimants can expect to receive their funds within 1–3 business days of the distribution date.

Recovery Rates:

Small unsecured creditors (claims under $50,000): Approximately 118% of their claim value.

General unsecured creditors: Between 54% and 72% of their approved claims.

Intercompany claims (e.g., FTX subsidiaries): Up to 120% recovery.

These percentages are based on the U.S. dollar value of customer holdings at the time of FTX’s collapse in November 2022.

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✅ Eligibility and Requirements

To qualify for the May 30 distribution, claimants were required to:

Complete Know Your Customer (KYC) verification.

Submit valid tax documentation.

Select and onboard with a distribution service provider (BitGo or Kraken).

Pass sanctions screening.

These steps needed to be completed by the record date of April 11, 2025.

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🔍 Additional Information

For detailed information on your claim status or to complete any pending requirements, visit the FTX Customer Claims Portal. The portal provides a Distribution Dashboard to track the progress of your claim and ensure all necessary steps have been completed.