FTX Creditors To Receive 120% Of Their Money Back In $2.2B Distribution
FTX will distribute approximately $2.2 billion to creditors on March 31, with Convenience Class creditors receiving 120% of their claims while general unsecured creditors hit 100% recovery.
The Fourth Distribution Breakdown
Class 5A Dotcom Customer Entitlement Claims will receive an incremental 18% distribution, bringing cumulative recovery to 96%.
Class 5B U.S. Customer Entitlement Claims will receive 5%, reaching 100% cumulative recovery.
Classes 6A General Unsecured Claims and 6B Digital Asset Loan Claims will each receive 15% distributions, hitting 100% cumulative recovery.
Class 7 Convenience Claims will receive a cumulative 120% distribution, becoming the first creditor class to recover more than their original claim amount.
Eligible creditors should expect to receive funds from their selected distribution service provider—BitGo, Kraken, or Payoneer—within one to three business days from March 31.
Why 120% Recovery Is Possible
The recovery exceeds 100% because FTX’s bankruptcy estate successfully sold assets, clawed back funds, and benefited …
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