FTX Trading Ltd. (FTX.com) and the FTX Recovery Trust have announced the next distribution date for customer and unsecured claims. The company has begun initial distributions to holders of approved claims in FTX’s Convenience Classes under its Chapter 11 Plan of Reorganization.
The next round of distributions will take place on April 11, 2025, covering:
- Class 5 Customer Entitlement Claims
- Class 6 General Unsecured Claims
- Newly approved Convenience Claims (pending payments)
This follows initial payments of $1.2 billion** to customers with claims under $50,000, processed via BitGo and Kraken (designated Distribution Service Providers). The next distribution phase is slated to begin on May 30, 2025**.
Key Requirements for Claim Holders
To receive payments, customers must complete:
- KYC verification
- Tax form submission
- Onboarding with BitGo or Kraken
For transferred claims, distributions will only proceed after:
- The 21-day notice period lapses without objections.
- The claim is recorded on the official register.
👉 Track your FTX claim status for real-time updates.
Initial Distributions for Convenience Class Holders
FTX has initiated payments to Convenience Class holders through BitGo and Kraken. Eligible recipients can expect funds within 1–3 business days, provided all pre-distribution steps are completed.
John J. Ray III, Plan Administrator of the FTX Recovery Trust, stated:
"We are pleased to commence initial distributions today and set the timeline for our next distribution. FTX appreciates our customers’ patience throughout this complex process. Our recovery efforts will continue to return funds to additional claim classes."
FAQs About FTX Distributions
1. When will I receive my FTX distribution?
Payments are processed in batches. Check your BitGo/Kraken account after April 11, 2025, if your claim is approved.
2. What if my claim was transferred?
Only the transferee listed on the official register will receive funds after the 21-day objection period.
3. How can I speed up my payment?
Ensure all KYC, tax forms, and provider onboarding are complete. Delays often stem from missing documentation.
4. Will FTX distributions affect Bitcoin’s price?
Analysts suggest the $1.2B payout could inject liquidity into the market, potentially stabilizing Bitcoin prices.
5. Where can I get help with my claim?
Contact BitGo or Kraken’s support team for fund availability queries post-distribution.
👉 Explore crypto recovery strategies to safeguard your assets post-FTX.
Next Steps for Creditors
FTX emphasizes completing all requirements before May 30, 2025, to avoid delays. The company continues to maximize recoveries through the FTX Recovery Trust, targeting additional claim classes in future distributions.
Disclaimer: This content reflects market conditions and the author’s analysis. Conduct independent research before making financial decisions.
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