The FTX Recovery Trust revealed that it plans to distribute $2.2 billion to creditors on March 31, 2026, marking the next milestone in the winding down of the FTX estate after the platform’s collapse in November 2022. Established to oversee the asset liquidation process, the recovery trust manages the distribution of recovered funds to those holding approved claims against the failed crypto exchange.
Disbursement Details And Payment Process
This fourth round of payouts will bring the total cumulative distributions to approximately $10 billion. Creditor payments are scheduled to reach eligible recipients within one to three business days after the distribution date. Beneficiaries may receive their funds through BitGo, Kraken, or Payoneer and have the option to convert proceeds directly into digital assets if they choose.
Distribution percentages differ by creditor type. Dotcom customer claims are set to receive 18% of their approved amounts, while US-based customer claims will see 5%. General unsecured creditors and digital asset loan holders are scheduled for 15% restitution. Notably, the “convenience claims” category will see a combined total recovery of 120%. After this distribution, US customers in class 5B and claimants in classes 6A and 6B will reach full recovery of their approved claims.
Valuation Controversy Raises Creditor Concerns
Many creditors have voiced concerns about the calculation methods used for reimbursements. Payments are based on digital asset valuations from November 2022, the date of FTX’s bankruptcy filing, rather than current market prices. At the time, Bitcoin was priced around $16,871 and Ether traded near $1,258—levels considerably below today’s valuations. Some claim holders argue that this approach leaves them undercompensated when compared to their crypto’s current market value.
The mismatch between historic valuation and present market prices continues to anger segments of the claimant pool. Addressing this dissatisfaction, Sunil Kavuri, an active FTX creditor advocate, remarked on the ongoing shortfall experienced by many platform users:
“FTX creditors are not whole,” stated Sunil Kavuri, an advocate representing creditor interests.
The trust initially paid out $1.2 billion in February 2025. May 2025 then saw $5 billion distributed, followed by another $1.6 billion in September. With the approaching March 31 payment, total distributions will near $10 billion. A subsequent disbursement is also scheduled for May 29, 2026.
Preferred equity stakeholders will, for the first time, be eligible for payments in May 2026, provided they fulfill specific requirements including ownership certification, know-your-customer checks, and submission of tax documents. The eligibility record date is set for April 30. These participants had previously not received any recovery from the trust.
Latest Developments Involving Sam Bankman-Fried
Sam Bankman-Fried, the founder of FTX, was convicted in 2023 on seven criminal counts related to fraud and conspiracy, receiving a 25-year sentence. He is currently serving time at Federal Correctional Institution Terminal Island near Los Angeles. According to recent court filings, his mother reported that a transfer to a new facility is expected in the coming weeks.
Though incarcerated, Bankman-Fried maintains a presence on X through a proxy account, where he occasionally comments on US political themes. Some observers see his continued public engagement as an effort to pave the way for potential clemency requests, but President Trump stated in January that he does not plan to consider such appeals.
