On Wednesday, the FTX Recovery Trust—the entity responsible for repaying creditors and former users of the collapsed exchange—announced plans to distribute $2.2 billion to creditors beginning at the end of this month.
Fourth Wave Of Repayments To Start March 31
Under the Chapter 11 restructuring plan, eligible creditors in both the Convenience and Non-Convenience classes are set to receive their payouts within three business days starting March 31, via distribution partners BitGo, Kraken, or Payoneer.
The exchange’s convenience class generally includes retail traders and smaller creditors, who make up the majority of FTX’s creditor base, while the non-convenience category covers bigger or more complex claims.
In the latest payout round, FTX is also increasing recoveries for several non-convenience classes. “Class 5A,” or Dotcom Customer Entitlement Claims, will receive an additional 18%, bringing total recoveries to 96% of losses based on 2022 petition-date values.
Meanwhile, Class 5B U.S. Customer Entitlement Claims will see a 5% increase, while both Class 6A General Unsecured Claims and Class 6B Digital Asset Loan Claims are being raised by 15%, effectively allowing these groups to be made whole at 100%. Meanwhile, “Class 7” is set to receive a total distribution of 120%, according to the announcement.
 
The trust further noted that all payouts will be issued in U.S. dollars to designated distribution partners, who will then provide recipients with the option to withdraw in fiat or convert the funds into digital assets.
This represents the fourth round of payouts for the bankrupt exchange, which has already returned more than $6 billion to former customers and investors. The prior payout to creditors began on September 30, 2025, when the trust announced a $1.6 billion distribution—marking the third major round of repayments since the exchange imploded more than three years ago in November 2022.
After this fourth distribution wave, total repayments to creditors and former customers are expected to reach roughly $10 billion. The estate has also set April 30 as the record date for its initial payouts to preferred equity holders, with distributions slated for May 29. To qualify, eligible holders must complete ownership certification, KYC verification, and the required tax documentation, according to the statement.
The latest round of repayments comes as former FTX CEO Sam “SBF” Bankman-Fried continues his appeals. Bankman-Fried is now serving a 25-year prison sentence in a Southern California prison after being convicted of seven counts of fraud and conspiracy.
While SBF has expressed support for U.S. President Donald Trump, the White House has confirmed there are no plans to grant him a pardon.
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