Holders of allowed claims in both Convenience and Non-Convenience Classes who have completed the required pre-distribution steps will receive the funds.
Under that initial phase, claimants with approved amounts under $50,000 began receiving full reimbursements and 9% annual interest accrued since the bankruptcy filing in November 2022.
Customers who onboarded with either BitGo or Kraken as their selected provider will receive their payments directly from these platforms. By onboarding, customers waived their right to receive direct cash distributions from FTX and instructed the firm to remit funds to their chosen provider.
The Trust will disclose future payment dates as the process continues.
According to the terms outlined in the reorganization plan’s payment hierarchy, Class 5A Dotcom Customer Entitlement Claims will receive a 72% payout, while US-based Class 5B Customer Entitlement Claims will receive 54%.
Class 6A General Unsecured Claims and Class 6B Digital Asset Loan Claims will receive 61%. Class 7 Convenience Claims, which typically cover smaller claims, will be paid out at 120%.
While the first wave fully repaid small creditors, those with claims above $50,000 are scheduled to receive distributions through upcoming rounds. A total of $16 billion has been allocated for repayments.
Some creditors have voiced frustration with the wait, though bankruptcy filings indicate that the estate recovered more than initially projected, enabling broader and deeper repayment efforts than originally anticipated.
