What’s Happening:

FTX has confirmed that its next round of creditor repayments is scheduled to begin on or around September 30, 2025, under a court-approved plan .

🔹 How Much?

The U.S. Bankruptcy Court in Delaware has released $1.9 billion in newly unlocked cash, after reducing the disputed claims reserve from $6.5 billion down to $4.3 billion .

🔹 Who’s Eligible:

The distribution covers:

Class 5: Customer Entitlement Claims

Class 6: General Unsecured Claims

Plus any Convenience Claims that became allowed after previous record dates .

🔹 Key Dates & Requirements:

Record date to qualify: August 15, 2025 .

Creditors must complete KYC onboarding, submit needed tax forms, and register with one of the processing platforms: BitGo, Kraken, or Payoneer .

Transfers of claims must be reflected on the official claims register by the record date, with a 21-day objection window closed.

🔹 Context & Next Steps:

FTX has already returned approximately **$6.2 billion ** earlier this year (notably in February and May rounds) .

The full recovery plan aims to distribute up to **$16.5 billion **, including principal and 9% interest for most non-governmental creditors .

A point of contention: payments use crypto valuations as of November 2022 (when Bitcoin traded around $16k–20k), which has frustrated some creditors in light of today’s much higher prices .#CryptoClarityAct #Latestcryptonews