FTX Announces Third Major Creditor Repayment for September 2025

FTX has confirmed its next significant milestone in the ongoing bankruptcy repayment process. The collapsed cryptocurrency exchange will initiate its third major distribution round on September 30, 2025, with August 15 established as the official record date for eligible creditors.

$1.9 Billion Unlocked for Creditor Distribution

The upcoming payout represents a substantial development following a court-approved decision to reduce the disputed claims reserve by $1.9 billion. This reduction has unlocked additional capital for immediate distribution to qualifying creditors.

The September distribution will encompass Class 5 Customer Entitlement Claims, Class 6 General Unsecured Claims, and newly approved Convenience Claims that have not yet received compensation.

Payment Infrastructure and Requirements

Consistent with previous repayment rounds, FTX has confirmed that BitGo, Kraken, and Payoneer will serve as the authorized payment facilitators. Creditors seeking to receive their allocated funds must complete several mandatory requirements including Know Your Customer verification, submission of required tax documentation, and successful onboarding with one of the three approved payment providers.

2025 Repayment Timeline and Progress

The September distribution marks the third major repayment installment in 2025, demonstrating continued progress in FTX's bankruptcy proceedings. The exchange has committed to returning over $14.5 billion to creditors through its comprehensive repayment plan.

First Distribution: February 18, 2025

FTX initiated its repayment program with the first distribution to Convenience Class claimants, specifically targeting claims valued under $50,000. These creditors received full compensation at 100% of their original claim value plus approximately 9% interest, calculated from the bankruptcy filing date.

Second Distribution: May 30, 2025

The second round resulted in the distribution of over $5 billion across multiple claim categories, representing a significant portion of the total repayment commitment.

Outstanding Disputed Claims

Despite the progress made in 2025, approximately $470 million in disputed claims remain frozen pending resolution. These funds are associated with accounts spanning 49 countries and will be addressed in subsequent distribution rounds following court determinations.

Eligibility Requirements for September Distribution

FTX has emphasized that only approved and officially registered claims will qualify for the September 30 distribution. The exchange has implemented strict criteria for claim transfers, requiring all transferred claims to appear on the official register before the August 15 cutoff date.

Creditors who have successfully resolved disputes and cleared all legal or procedural obstacles will be eligible to receive funds in this distribution round.

Key Figures and Legal Status

Sam Bankman-Fried, the founder of FTX, remains incarcerated following his conviction related to the exchange's collapse. He recently received a four-year sentence reduction due to good behavior but is expected to remain in prison until potentially 2044.

Caroline Ellison, former CEO of Alameda Research and key figure in the FTX collapse, is scheduled for release on July 20, 2026.

Looking Ahead

The September 30 distribution represents continued progress in FTX's commitment to creditor repayment. With over $14.5 billion allocated for distribution, the exchange continues to work through its bankruptcy proceedings while addressing both resolved and disputed claims.

Creditors are advised to ensure their documentation is current and complete before the August 15 record date to qualify for this distribution round. Future rounds will address remaining disputed claims as court proceedings conclude.

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