The FTX Recovery Trust announced Wednesday that it will begin distributing approximately $2.2 billion to creditors on March 31 - its fourth payout since the exchange's collapse in November 2022.
The funds were unlocked after a court-approved reduction of the disputed claims reserve, which shrank from $4.6 billion to $2.4 billion.
Distributions will be made in cash at 2022 petition-date values, not at current cryptocurrency prices.
Payments will be processed through distribution service providers BitGo, Kraken, and Payoneer, with eligible creditors expected to receive funds within one to three business days of the March 31 start date.
Who Gets What
The fourth round completes full repayment for several creditor classes. U.S. customer entitlement claims will receive a final 5% distribution, reaching 100% cumulative recovery.
General unsecured claims and digital asset loan claims will each receive 15%, also reaching 100% in total. Convenience claims - typically smaller retail creditors - will reach a cumulative 120% distribution, including an interest component.
Dotcom customer claims will receive an 18% incremental payout, bringing their cumulative total to 96%; full repayment for that class remains outstanding.
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Preferred Equity Holders
In a separate track, FTX set April 30 as the record date for preferred equity holders, with initial payments scheduled for May 29.
To qualify, preferred equity holders must submit ownership certification, complete KYC verification, and file required tax forms before the record date.
Outreach to that group began in January 2026.
What Creditors Must Do
Creditors who have not yet completed pre-distribution requirements - KYC verification, tax form submission, and onboarding with one of the three distribution partners - remain ineligible for March 31 payments but can qualify for subsequent rounds by completing those steps before future record dates.
The FTX Customer Portal at claims.ftx.com handles all claim-related steps.
The fourth distribution follows three prior rounds that together returned billions to creditors since FTX filed for bankruptcy in November 2022. The total estate has recovered an estimated $14 billion to $16 billion, according to prior court filings.
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