The bankrupt cryptocurrency exchange FTX is preparing for the next phase of returning funds to affected clients. Under the fifth round of compensation, approximately $900 million will be distributed. Payments will begin on July 31, and funds will be transferred through platforms such as BitGo, Kraken, and Payoneer.
Since the exchange's collapse in November 2022, the total amount of returned assets has already exceeded $10 billion. This is a significant step forward in the debt settlement process, but many creditors are still awaiting full reimbursement of their losses. The current round covers claims that have been approved by the court and have passed verification.
Payment Mechanism and Prospects
The use of services such as BitGo, Kraken, and Payoneer allows FTX to speed up the fund distribution process and minimize bureaucratic delays. However, it is worth noting that not all creditors will receive funds in full—some payments are made at a reduced asset value, based on rates at the time of filing claims.
For many market participants, these payments signal the gradual conclusion of one of the most high-profile bankruptcies in the history of the crypto industry. Nevertheless, legal proceedings and regulatory claims continue, leaving room for further changes in the compensation structure.
My expert assessment: The fifth round of payments demonstrates that the FTX settlement process is moving in the right direction, but it is far from complete. Creditors should keep in mind that fund recovery may take years, and final amounts may differ from initial expectations. The market views this news positively, as it reduces uncertainty surrounding the exchange's remaining assets.