The distribution will begin on Sept. 30 and cover both small retail claimants and larger institutional creditors, according to Friday’s announcement.

The convenience class, made up of smaller retail users that represent nearly all of FTX’s creditor base, will once again be included alongside non-convenience claims involving bigger and more complex disputes. Earlier payouts already gave retail users refunds worth around 120% of their frozen balances at the time of bankruptcy, though some have complained that the cash payments do not reflect the value their crypto holdings would have today after the market’s sharp rebound.

Unsecured lenders to FTX and Alameda Research, including general unsecured claims and digital asset loan claims, have so far recovered 85% of their funds. The reorganization plan, finalized in late 2024, projects that these creditors will eventually be made whole.

The repayments are being financed through more than $15 billion in recovered assets, built from cash reserves, clawbacks, and the sale of investments such as Sam Bankman-Fried’s Robinhood stake and shares in AI startup Anthropic. FTX’s sizable holdings of tokens like Solana and Sui have also contributed to the recovery pool.

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Eligible creditors will receive their funds through partners such as BitGo, Kraken, and Payoneer within a few business days after distributions begin.

FTX filed for Chapter 11 in November 2022 following a liquidity crisis and revelations of severe mismanagement. Nearly three years later, its bankruptcy estate has managed to secure one of the largest recoveries in crypto history, though many former users remain frustrated over what could have been if their assets had remained in crypto.

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