FTX Reduces Claims Reserve by $1.9B, Accelerating Creditor and Customer Payments

Sean Williams
FTX-court

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Key Takeaways:

  • FTX’s reserve dropped from $6.5B to $4.3B, freeing funds for payouts.
  • Verified claims must be logged by August 15 to qualify for the first payout round.
  • Distributions will begin around September 30 via BitGo, Kraken, and Payoneer.

In a major development for FTX creditors, the Delaware bankruptcy court has approved a $1.9 billion reduction in the disputed claims reserve. This lowers the reserve from $6.5 billion to $4.3 billion, freeing up assets to be distributed to verified claimants.

Faster Customer and Creditor Payments Expected

The adjustment comes after several previously contested claims were either resolved or disqualified. With fewer disputed liabilities, FTX can now accelerate customer and creditor payouts through the FTX Recovery Trust.

Distributions will be handled by BitGo, Kraken, and Payoneer, who are tasked with securely processing all approved claims. The first wave of payments is scheduled to begin on or around September 30, 2025.

August 15 Record Date Crucial for Claim Eligibility

FTX has set August 15, 2025, as the next record date. Only verified claims recorded by that date will qualify for upcoming distributions. This includes Class 5 Customer Entitlement Claims, Class 6 General Unsecured Claims, and newly approved Convenience Claims.

All claimants must also meet Know Your Customer (KYC) checks and provide tax documentation before payments are released. FTX warned that claims not properly transferred or verified by the deadline will be excluded.

BitGo, Kraken, Payoneer to Handle Disbursements

FTX stressed that it will not manage individual account access or resolve payment issues. All inquiries must be directed to the designated payment providers. Claimants are also cautioned to beware of phishing scams, especially unsolicited links or requests for private wallet keys.

Also Read: Solana Price Analysis: Bullish Breakout Faces Test After $31M FTX Unstake

The reserve cut was made possible by reallocating funds previously locked for disputed claims. Notably, FTX recently unstaked $31 million worth of Solana tokens, although it has not disclosed how those funds will be applied.

Meanwhile, a new claims marketplace launched by Backpack now lets FTX creditors sell their claims for cash, offering an early exit option for those who do not want to wait for full distributions.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses

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