365Crypto
FTX is ready to pay more than $5 billion to its creditors by May 30. This will be one of the biggest payout days in crypto bankruptcy history.
Who’s Getting Paid?
If you had a claim marked “Allowed” by April 11, 2025, you’re in. You also had to complete KYC, tax forms, and choose how you want to get paid. If you picked Kraken or BitGo, you’ll probably get the funds within three days.
Big Money First
FTX is starting with claims over $50,000. Even if you missed earlier payouts, you’re included—if you completed all steps before April’s deadline. The smaller claim group got $800 million earlier and is expected to get another $400 million later this year.
Price Lock: November 2022
All amounts are based on prices from when FTX collapsed—November 2022—not today’s market. So, if your claim was for Bitcoin, you’re getting the value it had then, not now.
Will This Spark an Altcoin Run?
Analysts think many creditors will throw their cash back into crypto. That could fuel an altcoin season. FTX’s bankruptcy estate has up to $16.5 billion. They expect 98% of creditors to recover at least 118% of what they lost—in cash.
But if you miss the final compliance steps by June 1, you could lose your money. FTX urges everyone to double-check their status on its claims portal.
Oh, and rumor has it Netflix might make a show about FTX and its founder Sam Bankman-Fried. Popcorn ready?
