FTX Trading Ltd. (including the FTX Recovery Trust) has announced that the next round of payouts to affected customers and creditors is scheduled for the end of September 2025. The record date for participation eligibility will be August 15. Payments will be made to those whose claims have been officially recognized and meet the conditions outlined in the restructuring plan.
Reserve Reduction and New Payout Date
The company received approval from the bankruptcy court to reduce its reserve for disputed claims from $6.5 billion to $4.3 billion. This decision released an additional $1.9 billion, which will be included in the upcoming distribution phase. The eligible categories include customer claims (Class 5), general unsecured creditors (Class 6), and previously accepted claims from earlier record dates.
FTX specified that distributions are expected to begin on or around September 30, 2025, and will be processed via BitGo, Kraken, and Payoneer. To receive funds, users must:
- complete the KYC process,
- upload tax forms,
- and register with one of the listed platforms.
Only claims that have been validated and fulfill all preliminary conditions will qualify for payment. If claims have been transferred, funds will be issued to the new holder, provided their right has been registered and uncontested for at least 21 days before the record date of August 15.
Phishing Warning
Amid the upcoming distribution, the company issued a warning about potential phishing attacks. The FTX Recovery Trust emphasized that it never asks users to connect crypto wallets or click on links to third-party websites posing as customer portals.
Conflicts With Projects and Lawsuits
Earlier, the FTX Recovery Trust filed lawsuits against two startups, NFT Stars and Kurosemi (the brand behind Delysium), in the Delaware Bankruptcy Court. The companies are accused of breaching SAFT agreements and failing to deliver tokens for which Alameda Research (now operating as Maclaurin Investment) had already paid.
Court filings reveal that in January 2022, Maclaurin transferred $1 million in exchange for 75 million AGI tokens from Delysium. The token launched in April 2023, with 20% scheduled to unlock after one year, followed by quarterly releases. However, the tokens were never delivered, despite repeated efforts to resolve the issue without litigation.
This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.