Key facts
- FTX will distribute approximately $900 million to creditors on July 31.
- This is the fifth distribution under the exchange's Chapter 11 Plan of Reorganization.
- Creditors can receive funds through Kraken, Payoneer, or BitGo.
- A second payment of $18 million will be made to eligible Preferred Equity Holders on July 31.
- The Preferred Shareholder Remission Fund Trust (PSRFT) has paid $95 million in total.
Defunct cryptocurrency exchange FTX is preparing to distribute nearly $900 million to its creditors on July 31, marking its fifth round of repayments under its Chapter 11 Plan of Reorganization. Eligible creditors who met pre-distribution requirements by June 16 can receive their funds through selected service providers, including Kraken, Payoneer, and BitGo.
In addition to the general creditor distribution, FTX will also issue a second payment to eligible Preferred Equity Holders on the same date. This payment, totaling $18 million, will bring the total disbursed from the Preferred Shareholder Remission Fund Trust (PSRFT) to $95 million. These payments will be facilitated through Kraken for individual shareholders and BitGo for institutional ones.
The bankruptcy proceedings continue, with omnibus hearings scheduled for July 23 and August 16. Meanwhile, FTX founder Sam Bankman-Fried remains in legal proceedings, with the U.S. Senate having rejected a clemency request for him, and President Trump indicating no plans for a pardon.