FTX will send out $1.6 billion to creditors today, Sept. 30, representing another major step in its ongoing recovery process.
Notably, the company first revealed the plan in a Sept. 19 announcement, saying it would begin its third round of distributions under the Chapter 11 reorganization plan.
FTX to Begin Third Payout Round Today
FTX confirmed that eligible creditors who completed all the required steps, such as identity checks, tax forms, and onboarding with a partner, will now receive payments. BitGo, Kraken, and Payoneer will handle the transfers, and creditors can expect the money in their accounts within one to three business days.
Creditors were prompted to choose one of these providers, essentially agreeing to receive payments directly through them rather than from FTX itself.
For context, this third round covers several categories of claims. Specifically, customers with dotcom claims will receive another 6%, which brings their total recovery to 78%. U.S. customers will get 40% this round, raising their recovery to 95% overall.
Meanwhile, unsecured creditors and those with digital asset loan claims will each receive 24%, pushing their total to 85%. Finally, convenience claimants will get a full payout at 120%.
FTX told creditors that anyone hoping to take part in future payouts must log in through the FTX Customer Portal, finish the verification process, submit tax documents, and complete onboarding with one of the three approved providers. For transferred claims, only the registered claim holder as of the distribution date will receive funds.
Market Bracing for Liquidity
The new payout has already drawn attention across the crypto community. Market commentator Lark Davis said the $1.6 billion in stablecoins could bring an important boost of liquidity to a market that continues to struggle.
MASSIVE: $1.6B worth of fresh liquidity about to hit the crypto market.
FTX is set to distribute $1.6 billion in stablecoins to creditors today.
Just in time for Uptober. pic.twitter.com/TATudVSzFt
— Lark Davis (@TheCryptoLark) September 30, 2025
He noted that the timing looks especially favorable, as the fresh capital arrives just as “Uptober” begins, a month linked with bullish momentum in crypto trading.
FTX Distribution Case
For the uninitiated, today’s distribution builds on a series of recovery steps that began last year. On Oct. 7, 2024, the U.S. Bankruptcy Court approved FTX’s reorganization plan, which promised between $14.7 billion and $16.5 billion in payouts.
The plan set expectations that 98% of creditors would recover about 119% of their allowed claims within 60 days of the effective date.
The plan took effect on Jan. 3, 2025, leading to the first phase of payments. By February, FTX had already released $1.2 billion to convenience class creditors through service providers like Kraken and BitGo. In March, the company announced it would begin paying larger creditor groups on May 30, using $11.4 billion in recovered cash.
This second round in May delivered $5 billion to main creditors and unsecured claimants, raising the total distributed funds to $6.2 billion. Some creditors recovered as much as 120% of their verified claims. Meanwhile, by late July, the bankruptcy court reduced the disputed claims reserve by $1.9 billion, freeing up money for the next stage.
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