TL;DR
- FTX Recovery Trust will distribute $1.6 billion to creditors on Sept. 30.
- This is the third payout, following $1.2B in February and $5B in May.
- Dotcom claims get 6%, U.S. claims 40%, and general unsecured claims 24%.
- Previously disputed claims are included in this round.
- Funds will reach users via distribution partners like Kraken within three business days.
FTX creditors are set to receive another major round of reimbursements. The FTX Recovery Trust - the entity managing the exchange's post-bankruptcy funds - confirmed on Friday that it will release approximately $1.6 billion in its third distribution round on September 30, 2025.
The announcement marks a key step forward in what has been one of crypto's largest and most closely watched bankruptcy recoveries. Funds are expected to hit users' accounts within three business days of the disbursement date.
How the Payout Breaks Down
This latest tranche will cover several claim types:
- Dotcom Customer Claims: 6% payout
- U.S. Customer Entitlement Claims: 40% payout
- General Unsecured and Digital Asset Loan Claims: 24% payout
- Convenience Claims: 120% reimbursement
For many creditors, this marks the first time previously disputed claims are being honored. According to community updates shared by FTX creditor advocate Sunil, those claimants have already received confirmation emails, and balances are expected to be credited on September 30.
Sunil noted that Kraken and other distribution partners have begun sending emails to users confirming that funds from FTX have been received and will soon be distributed.
Progress So Far
The FTX Recovery Trust has now returned nearly $7.8 billion across three distribution rounds, with more to come.
- February 2025: $1.2B disbursed
- May 2025: $5B disbursed
- September 2025: $1.6B scheduled
With up to $16.5 billion earmarked for distribution, more than half of the recovery effort is now complete - a milestone that provides some relief to victims of the 2022 collapse.
The Road from Collapse to Recovery
FTX's collapse in late 2022 was a defining moment for the crypto industry, sparking contagion across markets and triggering a wave of bankruptcies in related firms. Billions of dollars in customer funds were lost overnight, and trust in centralized exchanges took a major hit.
Sam Bankman-Fried, the exchange's founder, was convicted on seven criminal charges in November 2023 and sentenced to 25 years in prison in March 2024. Judge Lewis Kaplan, who presided over the case, described the fraud as one of the most serious financial crimes of the decade.
Why This Matters for Crypto
Each distribution from the FTX Recovery Trust is closely tracked by traders and market analysts. Large payouts have historically led to speculation about whether recipients will sell their recovered funds, potentially putting selling pressure on crypto markets.
So far, market impact has been muted, though September's $1.6B distribution will be watched closely - particularly given its timing near the end of Q3, when liquidity in crypto markets tends to tighten.
What Creditors Should Expect
According to the official announcement, the claims portal will be updated by September 22, 2025, reflecting new balances for all eligible creditors.
After the distribution is processed, users should see funds land in their exchange accounts or bank accounts within three business days. Those using Kraken and other distribution partners have already started receiving confirmation emails.
Looking Ahead
With more than $8.7B still left to distribute, creditors can expect additional payouts through 2026 as the trust continues to liquidate and recover assets. Some legal disputes - particularly around clawbacks and third-party settlements - remain unresolved, which could delay full closure.
Still, this latest distribution shows that the FTX recovery process is progressing steadily and remains one of the most significant examples of bankruptcy resolution in crypto history.
