FTX Trading Ltd. and the FTX Recovery Trust announced June 16, 2026, as the record date for the next distribution to holders of allowed claims and interests, with payments beginning July 31, 2026. The bankrupt crypto exchange stated the distribution applies only to eligible holders who complete Know Your Customer verification, tax form submission, and onboarding with approved distribution service providers BitGo, Kraken, or Payoneer. The announcement follows FTX's Chapter 11 bankruptcy process initiated after the exchange collapsed in November 2022 due to a liquidity crisis that exposed misuse of customer funds, leading to founder Sam Bankman-Fried's conviction and 25-year prison sentence.
Record Date Determines Distribution Eligibility
The June 16 record date will determine which holders of allowed claims qualify for the next distribution. FTX stated payments will begin on July 31 for eligible claimants who meet all requirements before the deadline. For transferred claims, payments will only be made to the transferee listed on the official claims register as of the record date, with the transfer having completed the required 21-day notice period without objection.
Preferred equity holders will receive their next payment on July 31 using the same June 16 record date. Preferred equity holders who had not received a payment as of May 29 must complete KYC, tax forms, ownership certification, and onboarding with BitGo or Payoneer.
NFT Distribution Process Begins June 30
FTX outlined a separate process for NFT customer entitlement claims. Eligible NFT holders may begin the NFT distribution process on June 30 by completing pre-distribution requirements, opting in, and providing a valid wallet address through the FTX Customer Portal.
Disputed Claims Reserve Reduction Proposed
FTX filed an amended notice with the Bankruptcy Court seeking to reduce its disputed claims reserve by $600 million. The proposed reduction would lower the reserve from $2.4 billion to $1.8 billion. If approved by the court, the reduction would release additional cash for distribution to holders of allowed claims. The company did not state the final amount expected for the July 31 distribution.
The upcoming payment follows previous creditor distributions under FTX's confirmed Chapter 11 plan. In March, FTX announced a fourth distribution of about $2.2 billion to eligible holders of allowed claims in convenience and non-convenience classes.
Legal Settlements Advance Recovery Efforts
Fenwick & West, FTX's former outside law firm, reached a $54 million preliminary settlement with former customers who accused the firm of helping enable Sam Bankman-Fried's fraud. Fenwick denied wrongdoing under the settlement. The law firm still faces a separate $525 million lawsuit from international investors over claims related to its work for the collapsed exchange.
Public accounting firm Prager Metis CPAs agreed to pay nearly $11.8 million in a separate settlement, while former NBA player Udonis Haslem agreed to pay $420,000 over claims tied to FTX promotion. Those settlements require preliminary approval from Judge K. Michael Moore in the U.S. District Court for the Southern District of Florida.
FTX repeatedly warned customers to remain alert for phishing emails and fake websites designed to resemble the FTX Customer Portal. Creditors are advised to use official channels when submitting personal information, tax forms, or wallet addresses. BitGo, Kraken, and Payoneer will handle the distribution process, with creditors directed to contact their chosen provider directly for questions about fund availability after payments are sent to those accounts.
