FTX Compensation Progress and Controversies: Currently, three rounds of compensation have distributed 7.1 billion USD, with the next round possibly starting in early 2026.
Latest news, the FTX bankruptcy liquidation has completed three rounds of compensation, totaling 7.1 billion USD. The cryptocurrency exchange collapsed in November 2022, and it has taken nearly three years for the liquidation to reach the current stage.
Specifically, the FTX creditor compensation timeline is as follows: On February 18, 4.54 billion USD was distributed for claims under 50,000 USD; on May 30, another 5 billion USD was distributed covering the full amount of claims; on September 30, the third payment of 1.6 billion USD was completed, also covering all categories of claims.
According to creditor representative Sunil Kavuri, FTX's total assets are approximately 16 billion to 17 billion USD, with the next round of compensation expected to take place in January 2026, pending confirmation of the equity registration date in December.
Before this progress was revealed, the FTX Recovery Trust withdrew 44 repayment requests from foreign jurisdictions. This request was made in July, but ultimately did not proceed due to strong opposition from affected creditors.
Although the return of funds is still steadily progressing, the controversies surrounding the FTX bankruptcy case have not subsided. The convicted founder of FTX, SBF (Sam Bankman-Fried), has recently stirred up public opinion again, releasing a 14-page document through a long-dormant X account earlier this month, claiming that FTX "never went bankrupt" and that if not for lawyer intervention, there would now be a 136 billion USD asset portfolio.
However, his related arguments were dismissed by the court as early as 2023 and 2024, and legal audits have confirmed that billions of USD in customer funds are unaccounted for.
This week, a satirical article directly accused the current CEO of FTX of intentionally keeping the solvent platform in a state of bankruptcy, primarily to earn high service fees, and benefiting from the shrinkage of the total asset value owed to creditors. In response to this article, SBF stated, "That's basically it."
His statements immediately provoked strong backlash. On-chain analysts directly demanded SBF explain the whereabouts of the 40 million USD funds that he deliberately concealed from the public and prosecutors; venture capitalists pointed out that SBF's comments sufficiently demonstrate his lack of remorse and unwillingness to take responsibility for the losses of millions of users.
Moreover, legal accountants, prosecutors, and bankruptcy experts have openly stated that SBF's claim that FTX's collapse is unrelated to fraud, misappropriation, or reckless leverage is a false statement and highly misleading.
