$7.1B Already Paid to FTX Creditors—What’s the 2026 Payout Plan?
FTX’s creditors just got a $7.1 billion lifeline—but the real question is what happens next.
The 2026 distribution looms. Will it be a windfall or another crypto promise that fizzles?
Wall Street’s finest are already circling—because nothing unites vultures like a carcass this big.
TLDR
- The FTX bankruptcy estate has distributed $7.1 billion to creditors in three rounds so far.
- The next payout round is scheduled for January 2026, with eligibility to be finalized by December 2025.
- FTX has recovered between $14.7 billion and $16.5 billion through asset liquidation and settlements.
- Creditors in the Convenience Class, those with claims of $50,000 or less, received full repayment with interest.
- FTX has partnered with payment providers like BitGo, Kraken, and Payoneer to manage global distributions.
The FTX bankruptcy estate has returned $7.1 billion to creditors across three distribution rounds. The update came from creditor representative Sunil Kavuri. The bankrupt crypto exchange continues to resolve its complex financial collapse.
Progress of FTX Bankruptcy Payouts
FTX has made major strides in repaying creditors since its bankruptcy in November 2022. The estate issued the first payout on February 18, 2025, totaling $454 million. This was followed by a $5 billion payout on May 30, 2025, and a third distribution of $1.6 billion on September 30, 2025.
Each distribution has brought creditors closer to receiving full recovery. Sunil Kavuri confirmed that the estate is making good progress. The next payout round is scheduled for January 2026, with eligibility set to close in December 2025.
Before Distribution
Total FTX Assets: $16bn/$17bn
Distributions
18th Feb: $454m
claims
30th May: $5bn
Claims $50k
30th Sept: $1.6bn
Claims > $50k, Claims
Total = $7.1bn
Est. Next distribution – not official
Jan with record date in Dec
— Sunil (FTX Creditor Champion) (@sunil_trades) November 9, 2025
FTX has adopted a phased approach to repayment, starting with smaller creditors. The first payout targeted creditors with claims of $50,000 or less. This group, the Convenience Class, received full repayment, with an additional 9% annual interest on their claims.
Subsequent distributions have focused on a wider range of claimants, including U.S. customers and counterparties from Alameda Research. Recovery rates vary depending on the type of claim. General unsecured claims and digital asset loans received up to 85% of their original value.
Future Distribution Plans for FTX Creditors
The FTX estate’s net assets are estimated to be between $16 billion and $17 billion. As of now, the estate has recovered between $14.7 billion and $16.5 billion through asset liquidation. The repayment plan is moving according to the court-approved restructuring schedule.
Some creditors have raised concerns about the method used to calculate payouts. The estate has used the U.S. dollar value of crypto assets as of November 2022. This approach has drawn objections, with some arguing for payments based on the current market value of digital assets.
FTX’s asset liquidation strategy includes the involvement of several payment providers. BitGo, Kraken, and Payoneer are helping distribute funds to affected creditors. These partners are facilitating global payment distribution, ensuring funds reach claimants in different regions.
FTX’s restructuring process remains one of the most complex bankruptcies in crypto history. The estate’s ability to return billions to creditors offers a rare example of recovery in such cases. Despite the difficulties, creditors are steadily receiving compensation from the estate.
