The FTX Recovery Trust announced its next round of distributions will begin on July 31, 2026, sending roughly $900 million to claimants under the bankruptcy recovery plan.
According to the trust, funds will be paid to creditors classified in the plan’s “convenience” and “non‑convenience” classes. Eligible recipients can expect deposits to arrive via BitGo, Kraken or Payoneer accounts within one to three business days after the distribution begins.
This will be the fifth scheduled distribution to FTX creditors. Under the plan, convenience claims under $50,000 receive a 120% reimbursement, while other claimants will receive distributions in the 103–105% range.
Since FTX filed for bankruptcy in November 2022, the trust has completed several large payouts. After a March distribution of about $2.2 billion, total repayments have reached roughly $10 billion. The exchange’s collapse led to multiple Chapter 11 filings across the crypto sector, and former FTX executives including Sam Bankman‑Fried and Ryan Salame remain incarcerated for their roles in the misuse of customer funds.
Separately, law firm Fenwick & West, which advised FTX before its collapse, agreed in May to a $54 million settlement in a class action brought by former users. A separate group of 20 users had filed a $525 million suit against the firm days earlier.
Pardon prospects for Sam Bankman‑Fried appear increasingly unlikely. Bankman‑Fried was convicted and sentenced to 25 years in prison in 2024; his appeal was recently denied. He applied for presidential clemency, but President Trump publicly indicated he did not plan to grant a pardon. This week the U.S. Senate unanimously passed a resolution opposing clemency for Bankman‑Fried. While the resolution cannot prevent a presidential pardon, it signals bipartisan resistance in Congress. Critics have also voiced concern about any perceived leniency toward high‑profile crypto figures, citing prior controversies over presidential intervention in related cases.
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