FTX has received court approval to release $1.9 billion in funds for the next round of distribution to customers and creditors.

FTX has received court approval to reduce the disputed claims reserve by $1.9 billion, releasing funds for the next round of distributions to customers and creditors. This move will accelerate the distribution process and sets August 15, 2025, as the record date for customer eligibility claims, with payments expected to begin on September 30.

FTX reduces reserves, accelerates payments to customers and creditors

According to the approval of the Delaware bankruptcy court, FTX has reduced its disputed claims reserve from $6.5 billion to $4.3 billion, releasing $1.9 billion in funds for the next round of distribution to customers and creditors. This reserve adjustment helps to expedite the payment process, especially for customers and unsecured creditors.

FTX announced that the next round of eligible claims record date is set for August 15, 2025, and payments are expected to begin around September 30, 2025. This timeline applies to Class 5 customer equity claims, Class 6 general unsecured claims, and newly approved convenience claims.

This reduction in reserves will accelerate payments to customers and unsecured creditors. Service providers designated by FTX, such as BitGo and Payoneer, will be responsible for handling the distribution.

Payment Eligibility Requirements and Allocation Process

FTX emphasizes that only verified claim holders are eligible to receive distributions. All claimants must complete "Know Your Customer" (KYC) verification and submit tax documents to qualify.

For the transfer of claims, distribution will only be made when the new owner is entered in the official claims register before the record date of August. The court-approved reserve reduction enables FTX to redistribute previously retained assets.

FTX has previously unlocked $31 million worth of Solana tokens, but has not confirmed the specific uses of these unlocked funds.

Fraud Prevention Reminders and Customer Considerations

FTX also reminds users that the platform will never ask users to connect their wallets or share their private keys, and warns customers to be cautious of counterfeit websites and phishing emails that impersonate the FTX customer portal.

In addition, once the allocated funds are sent to the designated service provider account, the customer will be responsible for their own funds. If there are any questions regarding account access or payment status, inquiries must be made directly to BitGo or Payoneer, depending on the service provider chosen by the individual.

Outlook for the Next Round of Payments

As the next round of payments approaches, thousands of FTX claimants will begin to receive partial funds. According to CoinGape, another cryptocurrency exchange has recently launched a new platform that allows FTX creditors to sell their debt claims.

Conclusion: FTX is actively advancing the work of bankruptcy claim payments. As the disputed reserves decrease, the disbursement of funds will accelerate. This change will not only help creditors and customers receive compensation as soon as possible, but it will also set a new standard for compliance in the future of the cryptocurrency industry.