FTX’s $900M Payout Hits July 31 — Onboard in Six Months or Say Goodbye

Big payout news: FTX is set to send roughly $900 million to certain creditors on Friday, July 31. If your claim was approved and you cleared the pre-pay checks by the June 16 cutoff, you could see money land in your account a day or two later. If not, well… read on.

Who gets paid (and who might miss out)

The payout targets holders of allowed Convenience and Non-Convenience claims who met the June 16 record date and completed any required pre-distribution steps. That includes passing KYC checks, filing the right tax paperwork, getting onboarded with a distribution provider, and clearing sanctions screening.

Important distinction: a claim being “allowed” doesn’t automatically mean it’s ready for payment. You could have an allowed claim on file but still be missing that tax form or provider onboarding — and if you missed any of the June 16 requirements, you won’t get the July 31 payment.

FTX expects eligible creditors to receive funds via common distribution providers (BitGo, Kraken, or Payoneer) within one to three business days after July 31. If you don’t see anything right away, don’t panic — there are timing and processing windows.

How much each class gets — and the six‑month clock

The distribution plan sets different pay percentages by creditor class for this fifth round. Bottom line cumulative targets after this round: Dotcom customer entitlements (Class 5A) move up by about 9% to roughly 105% total; U.S. customer entitlements (Class 5B) get about 5% this round, also landing near 105% cumulative; General unsecured (Class 6A) and Digital asset loan claims (Class 6B) each get about 3% this round for roughly 103% total; Convenience claims (Class 7) sit around a 120% cumulative distribution. Small rounding differences may apply.

Here’s the kicker on onboarding: for allowed claim holders who weren’t fully onboarded by June 16 but become eligible for this payout, July 31 starts a six‑month countdown. If you fail to finish provider onboarding during that six‑month window, you risk forfeiting the right to receive distributions on that allowed claim. Tax paperwork has its own deadlines under the plan, and missing those can also mean losing your payout.

Other payouts and separate processes

There are two separate but related processes happening around the same time. A Preferred Shareholder Remission Fund is planning a second payment of about $18 million to eligible preferred-equity holders, bringing that pot to about $95 million total so far. And the Bahamas-side process administered by the digital markets arm is running under its own rules — some non-convenience and catch-up distributions there are also expected to begin on July 31, but the exact rates and timing will be confirmed by the administrators.

Bottom line: July 31 is the big send date for the Chapter 11 creditor distribution (~$900M). If you’re expecting cash, double‑check that your KYC, tax form, sanctions screening and provider onboarding are actually complete — or you might be watching your payment vanish into the void after a six‑month grace period.