Bankrupt Exchange FTX to Distribute $1.6B to Creditors on Sep. 30

FTX’s bankruptcy estate will release $1.6 billion to creditors at the end of the month, marking the third major payout since the exchange's collapse nearly three years ago.

The FTX Recovery Trust announced payments will start on September 30 for verified creditors via BitGo, Kraken, or Payoneer.
U.S. customer claims will see a 40% recovery in this round, totaling 95% so far.
"Dotcom" customers will receive an additional 6%, reaching 78% in total distributions.
General unsecured and digital asset loan claims are set for a 24% payout, bringing recoveries to 85%.
Convenience claims will be paid out at 120%, exceeding the original amount owed.

This distribution follows previous rounds that have returned over $6 billion to creditors. The process aims to recover assets after FTX's collapse in November 2022, which significantly impacted the crypto industry. Founder Sam Bankman-Fried is serving a 25-year sentence following his conviction for fraud and conspiracy.