A detail of the closed sign that hangs in the door of a Chinese restaurant in Holborn during the Coronavirus pandemic, at a time when only some retailers and business are re-opening while office workers still largely work from home, on 2nd September 2020, in London, England. (Photo by Richard Baker / In Pictures via Getty Images)
Key Points
FTX to pay $2.2B to creditors on March 31
Many users nearing 100% recovery (some up to 120%)
Follows 2022 collapse and SBF’s 25-year fraud sentence
Bankrupt crypto exchange FTX is set to distribute roughly $2.2 billion to creditors at the end of March, marking another major step in its long-running recovery process following one of the industry’s most dramatic failures.
The FTX Recovery Trust said the funds will be distributed on March 31 as part of the exchange’s Chapter 11 restructuring plan, with payments expected to arrive within one to three business days via BitGo, Kraken or Payoneer.
The latest payout represents the fourth round of distributions since FTX filed for bankruptcy in November 2022, when the once-dominant exchange, valued at $32 billion at its peak, collapsed almost overnight.
The implosion wiped out billions in customer funds and triggered a broader crypto market downturn.
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Sam Bankman-Fried, the exchange’s founder and former CEO, was once seen as the face of the crypto industry in Washington, lobbying regulators and donating heavily to political campaigns. He is now serving a 25-year prison sentence after being convicted of fraud and conspiracy for misusing customer funds through his trading firm, Alameda Research.
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The trust said the latest distribution will significantly improve recovery rates across creditor classes.
“The latest distribution lifts recovery rates so that many customer claim classes… reach 100 percent,” the trust said, adding that some claimants may recover even more. Class 7 creditors, for example, are expected to receive up to 120% of their claims.
In total, previous distributions have already exceeded $6 billion, including a $1.6 billion payout announced in late 2025. The latest round brings cumulative recoveries closer to making many users whole, an outcome rarely seen in major crypto bankruptcies.
All payments will be made in US dollars through designated providers, which will then allow users to withdraw funds or convert them into digital assets.
Looking ahead, the estate said April 30 will serve as the record date for its first distributions to preferred equity holders, with payments scheduled for May 29, pending completion of ownership verification, KYC and tax requirements.
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