The FTX fifth distribution of approximately $900 million commences July 31, 2026. The record date (June 16) has passed, meaning this specific payment is locked for those who completed all steps in time. However, if you missed the June 16 deadline, you still have a six-month window until ~January 31, 2027 to complete your setup and avoid forfeiting your claim entirely. Act now.
On July 18, 2026, FTX's bankruptcy estate officially announced the fifth distribution of approximately $900 million to creditors — the largest single distribution since the program began in February 2025. Funds will be disbursed starting July 31, 2026 through the three approved distribution service providers: BitGo, Kraken, and Payoneer.
With this payment, the FTX estate will have returned more than $9.7 billion to creditors since the exchange's collapse in November 2022 — a recovery that has stunned the financial world and exceeded virtually every early expectation.
Who Gets Paid on July 31, 2026?
Only creditors who completed all three required steps before the June 16, 2026 record date will receive the July 31 payment. Those three steps are:
- Passed KYC identity verification on the Kroll portal (restructuring.ra.kroll.com/FTX)
- Linked a distribution service provider — BitGo, Kraken platform, or Payoneer
- Submitted required tax forms (W-9 for US creditors; W-8BEN for non-US creditors)
Eligible creditors should expect funds to arrive within 1 to 3 business days after July 31 from their chosen provider.
Recovery Rates by Creditor Class
The fifth distribution brings most creditor classes to or above their full claim value. Here's the breakdown:
| Creditor Class | Additional Payment (5th Round) | Cumulative Recovery |
|---|---|---|
| Convenience Claims (small claims) | — | 120% cumulative ✓ |
| Dotcom Customer Claims | +9% | 105% cumulative |
| US Customer Claims | +5% | 105% cumulative |
| General Unsecured Claims | +3% | 103% cumulative |
| Digital Asset Loan Claims | +3% | 103% cumulative |
Recovery percentages are measured against the USD value of your FTX holdings on November 11, 2022 — the date FTX filed for bankruptcy. If you held crypto, your claim was valued at the crypto's price on that specific date, not at today's prices.
If you had $10,000 worth of crypto on FTX at the November 2022 filing date, a 105% cumulative recovery means you'll receive $10,500 total across all distribution rounds. The downside: if you held BTC at ~$20,000 and it's now worth much more, your claim was calculated at the lower 2022 price — not today's market value. This is standard in US bankruptcy proceedings.
The Full FTX Distribution Timeline
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November 2022FTX collapses, files Chapter 11 bankruptcy. Over 1 million customers locked out of funds.
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September 2023Claims bar date — last chance to file a new FTX claim. This window is permanently closed.
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October 2024Bankruptcy plan confirmed by US court. FTX estate begins preparing for distributions.
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February 20251st distribution — $1.8 billion paid. Convenience class creditors receive 119% of claims.
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May 20252nd distribution — additional billions paid to Dotcom and US customer classes.
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October 20253rd distribution — further payouts; cumulative recovery for most classes exceeds 90%.
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January 20264th distribution — $600M+ paid. Restricted jurisdiction motion withdrawn, opening recovery to more countries.
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July 31, 20265th distribution — $900 million. Most creditors reach 103–120% cumulative recovery.
What If You Missed the June 16 Record Date?
Missing the June 16 record date means you will not receive the July 31 payment. However, your claim itself is not immediately forfeited. Here is what you should do right now:
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Log in to the Kroll portal immediately
Go to restructuring.ra.kroll.com/FTX and log in using your FTX-registered email. Your dashboard will show any outstanding steps — KYC, provider selection, or tax forms — that still need to be completed.
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Complete KYC if not yet done
Identity verification is required before any distribution. Upload a government-issued ID and proof of address. Processing can take several days, so start immediately.
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Select a distribution provider
Choose between BitGo (crypto wallet), Kraken (exchange account), or Payoneer (bank transfer / prepaid card). Each has its own onboarding process. Payoneer is often the easiest option for those without existing crypto exchange accounts.
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Submit your tax forms
US creditors need a W-9. Non-US creditors need a W-8BEN. These are required for the IRS reporting obligations of the bankruptcy estate. Both forms are available directly in the Kroll portal.
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Complete by January 31, 2027
You have six months from the July 31 distribution date to complete your provider onboarding. Missing this final deadline could result in permanent forfeiture of your distribution. Do not wait.
FTX recently announced that creditors in certain jurisdictions may lose their claims within six months if they don't onboard. While the November 2025 withdrawal of the restricted jurisdiction motion opened recovery to more countries, creditors from previously restricted regions still face practical hurdles with the three approved providers. If your country was previously flagged, complete onboarding immediately rather than waiting for the next distribution.
How Will Payment Arrive?
Payment arrives through whichever distribution service provider you selected in the Kroll portal:
BitGo — crypto wallet provider. Funds arrive in your BitGo custody wallet. From there you can transfer to your own wallet or sell to USD through BitGo's platform.
Kraken — crypto exchange. Funds arrive in your Kraken account balance. You can then trade to USD or withdraw to a bank account through Kraken.
Payoneer — international payments platform. Funds arrive as USD in your Payoneer account. You can transfer to a linked bank account. Payoneer typically supports bank transfers in 190+ countries.
All three providers are required to disburse funds within 1 to 3 business days of July 31. If you haven't received funds by August 5, log in to your provider account and check for any pending verification or compliance requirements that may be holding up your payment.
The Bigger Picture: $9.7B+ Recovered
When FTX collapsed in November 2022, it was widely assumed that creditors would recover pennies on the dollar — if anything at all. The reality has been extraordinary.
Under the leadership of Plan Administrator John J. Ray III (the restructuring specialist who also oversaw the Enron bankruptcy), the FTX estate methodically recovered billions in assets from various sources: FTX venture investments, seized assets, clawback lawsuits, and settlements with former insiders. The result: with five distributions now either completed or underway, the estate has paid out more than $9.7 billion — and most creditors are receiving 100 cents on the dollar or more.
The FTX bankruptcy has become one of the most successful creditor recoveries in the history of major financial collapses — a remarkable outcome from what initially looked like a total loss.
If you had funds on FTX and haven't checked your claim status recently, do it today. Log in to the Kroll portal or visit our FTX Claim Guide for step-by-step instructions on completing your claim setup.