FTX Starts $900M Payout on July 31 — Deadlines Could Cost Creditors

FTX is preparing a roughly $900 million distribution slated for July 31 — but don’t crack open the confetti yet. Only creditors who met a string of checkpoints by a June 16 record date and who completed onboarding with an available distribution provider will actually see money hit their accounts. Think of it as money with a few attendance requirements and a strict dress code.

Who gets the July 31 payment (and who might be left waiting)

The payout applies to holders of allowed claims in Classes 5A, 5B, 6A, 6B and 7 — provided they cleared KYC and required checks by June 16, submitted any needed tax forms, passed sanctions screening, and finished onboarding with an available provider. If you ticked all those boxes, FTX says payments should be sent through BitGo, Kraken or Payoneer and arrive one to three business days after July 31.

However, residents of 45 jurisdictions currently cannot pick a distribution provider and therefore won’t get immediate access to the July 31 funds. That list includes countries such as Afghanistan, Algeria, Bangladesh, Belarus, Burundi, Cambodia, Cameroon, the Central African Republic, Chad, China, Colombia, the Democratic Republic of the Congo, the Republic of the Congo, Cuba, Egypt, Equatorial Guinea, Ethiopia, Fiji, Gabon, Guernsey, Honduras, Iran, Iraq, Kuwait, Lebanon, Lesotho, Libya, Macau, Malawi, Maldives, Moldova, Morocco, Myanmar (Burma), Nepal, North Korea, Qatar, Russia, Rwanda, Saudi Arabia, Somalia, Sudan, Syria, Tunisia, Ukraine and Western Sahara.

Coverage can change — providers may expand their footprint later — but if no provider serves your country at the moment, FTX will defer your payment until one does. If you’re blocked now, your best move is to keep an eye on the FTX customer portal and your email so you can onboard as soon as an option appears. Even then, the provider has the final say on whether to accept your onboarding.

Deadlines, decisions, and other things that feel final

There are a few non-negotiable quirks to know. You can’t split a distribution across multiple providers — your provider choice is final. By onboarding you effectively tell FTX, “pay the provider, not me directly,” which means any follow-up about the funds goes to that provider’s support team, not FTX.

Also: if an allowed-claim holder does not successfully onboard within six months of the July 31 distribution date, they risk forfeiting the right to receive that claim’s distribution. Missing the June 16 cutoff already keeps you out of this round; missing the longer onboarding window is a separate, ticking risk.

FTX has published cumulative distribution percentages for the affected classes — for example, around 105% for Classes 5A and 5B, about 103% for Classes 6A and 6B, and roughly 120% for Class 7 — but don’t read those numbers as magic gains. They represent recovery percentages against the allowed claim amounts as calculated under the court-approved conversion framework, not the current market prices of the original assets.

If you’re a creditor: check the customer portal, double-check your onboarding status, and don’t let a deadline snooze cost you your claim. If you’re just watching the drama unfold, same advice: popcorn ready, but keep an eye on the calendar.