FTX Trading Ltd. and the FTX Recovery Trust began distributing approximately $900 million to creditors on Friday, July 31, 2026, the fifth distribution under the exchange’s confirmed Chapter 11 Plan of Reorganization since the company’s 2022 collapse. The payment marks the latest milestone in FTX’s ongoing customer repayment process, which has now moved through five separate rounds over roughly a year and a half.
Who Qualifies for the July 31 Payment, and How It Arrives
The Fifth Distribution covers holders of allowed claims in the Plan’s Convenience and Non-Convenience Classes who completed all pre-distribution requirements, including KYC verification, tax documentation, and onboarding with an approved payment processor, by the June 16, 2026 record date.
Eligible recipients are expected to receive funds through one of three Distribution Service Providers, BitGo, Kraken, or Payoneer, within one to three business days of July 31. A separate Second Preferred Payment of $18 million is also being made on July 31 to eligible Preferred Equity Holders, whose outreach process began in January 2026; that payment brings cumulative payments from the Preferred Shareholder Remission Fund Trust to $95 million.
Recovery Percentages for This Round’s Five Claim Classes
Under the Plan’s waterfall structure, Class 5A Dotcom customer claims receive an incremental 9% in this round, bringing their cumulative distribution to 105%. Class 5B U.S. customer claims receive 5%, also reaching 105% cumulative.
Class 6A General Unsecured Claims and Class 6B Digital Asset Loan Claims each receive an incremental 3%, bringing their cumulative total to 103%. Class 7 Convenience Claims reach a cumulative distribution of 120%. FTX has noted that these percentages may shift slightly due to rounding, and that the exact dollar amounts distributed by class will be filed on the bankruptcy docket shortly after July 31.
Four Earlier Rounds Since the Plan Took Effect in 2025
The Fifth Distribution follows four earlier rounds since FTX’s Chapter 11 Plan took effect in January 2025, according to reporting on the case. The Fourth Distribution, in March 2026, moved approximately $2.2 billion. Taken together, cumulative distributions across all five rounds are estimated, according to reporting on the process rather than an FTX-published running total, to be approaching $10 billion, one of the larger creditor recoveries in a crypto bankruptcy to date.
| Round | Date | Amount |
|---|---|---|
| First | February 2025 | ≈$1.2 billion |
| Second | May 2025 | ≈$5 billion |
| Third | September 2025 | ≈$1.6–$1.7 billion |
| Fourth | March 2026 | ≈$2.2 billion |
| Fifth | July 31, 2026 | ≈$900 million |
Figures for the first three rounds and the fourth-round comparison are reported elsewhere and not independently confirmed by us; the fourth-round total and today’s figure are drawn from FTX’s own announcements.
The Reserve Cut Behind This Round’s Cash, and What’s Still Unresolved
These distributions are part of FTX’s ongoing customer repayment process, which continues to reconcile and pay out claims stemming from the exchange’s 2022 collapse. Ahead of this round, FTX filed a notice with the bankruptcy court to reduce its disputed-claims reserve by $600 million, in order to free up additional cash for creditor distributions; that reduction was approved in mid-June 2026, according to legal-industry reporting on the docket.
| Before | After | Change |
|---|---|---|
| $2.4 billion | $1.8 billion | −$600 million |
FTX has not yet announced a date for a sixth distribution, and reconciliation of remaining disputed claims continues. The estate has also repeated its standing phishing warning: it says it will never ask a claimant to connect a crypto wallet. Creditors with questions about eligibility or onboarding can check status directly through the FTX Customer Portal.
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