#FTXRefunds
As of June 1, 2025, FTX has initiated its second round of creditor repayments, marking a significant milestone in its bankruptcy proceedings.
๐ธ Refund Timeline & Eligibility
Convenience Class Creditors: On February 18, 2025, FTX began distributing refunds to creditors with claims of $50,000 or less. These individuals received approximately 119% of their allowed claims, including interest accrued since November 2022 .
Main Creditors: Starting May 30, 2025, FTX commenced repayments to larger creditors, allocating over $11.4 billion in cash for this purpose .
โ Requirements for Receiving Funds
To be eligible for the May 30 distribution, creditors needed to:
Complete Know Your Customer (KYC) verification.
Submit valid tax documentation.
Select and onboard with a designated distribution service provider.
Pass sanctions screening by the record date of April 11, 2025 .
Failure to meet these requirements by the specified date may result in forfeiture of the distribution.
๐ฐ Recovery Details
FTX has recovered between $14.7 billion and $16.5 billion through asset liquidations and settlements.
Approximately 98% of customers are expected to receive at least 118% of their account values as of November 2022 .
It's important to note that refunds are being issued in U.S. dollars, based on the value of assets at the time of FTX's collapse. This approach has led to some dissatisfaction among creditors, especially those whose crypto assets have significantly appreciated since November 2022 .
๐ Next Steps
If you're an FTX creditor, ensure that you have completed all necessary steps to qualify for distributions. For detailed information and to manage your claim, visit the FTX Customer Claims Portal.
