FTX’s road to recovery continues, and this time, with real numbers on the board.
According to creditor representative Sunil, the collapsed crypto exchange has completed three major payout rounds, returning a total of about $7.1 billion to claimants.
Before Distribution
Total FTX Assets: $16bn/$17bnDistributions
18th Feb: $454m
claims <$50k30th May: $5bn
Claims <$50k ($750m) , Claims >$50k30th Sept: $1.6bn
Claims > $50k, Claims <$50kTotal = $7.1bn
Est. Next distribution – not official
Jan with record date in Dec— Sunil (FTX Creditor Champion) (@sunil_trades) November 9, 2025
The latest update gives creditors a clear snapshot of how the exchange’s assets are being managed ahead of the next major distribution in early 2026.
Three Rounds, $7.1 Billion Distributed
Sunil detailed the full breakdown across three repayment dates,
February 18, May 30, and September 30.
Each round targeted different creditor categories and claim sizes:
- February 18: $454 million (for claims under $50,000)
- May 30: $5 billion (covering both claims under and above $50,000)
- September 30: $1.6 billion (for a mix of larger and smaller claims)
That brings the total distributed so far to $7.1 billion, marking one of the largest creditor repayments in crypto history.
Asset Overview: $16–17 Billion on Record
FTX’s total asset base is currently estimated between $16 billion and $17 billion, based on the latest internal assessments shared by Sunil.
This figure represents both cash and digital holdings, alongside proceeds from asset sales and bankruptcy recoveries.
While no official statement has confirmed the next round’s scale, the numbers suggest a strong liquidity position heading into 2026.
Next Distribution Expected in January 2026
The next payout is tentatively scheduled for January 2026, pending confirmation of a record date in December.
If approved, this would mark the fourth distribution phase, likely focused on remaining verified claims and any pending adjustments after asset liquidations are finalized.
Sunil emphasized that while this timeline isn’t yet official, preparations are already underway to finalize eligibility lists before year-end.
“The next round of compensation is expected to confirm the record date in December and be distributed in January next year,” Sunil noted.
February Round: Early Relief for Smaller Claims
The first payout, made on February 18, distributed $454 million to creditors with claims under $50,000.
It was seen as an early relief round aimed at easing financial pressure on smaller holders, many of whom had been waiting since the platform’s collapse in late 2022.
This move set the tone for FTX’s repayment structure, prioritizing smaller creditors first before scaling to higher-value claims.
May Round: The Largest Distribution Yet
The second round, on May 30, accounted for the bulk of all repayments, totaling $5 billion.
This stage covered a wider range of claim categories, with approximately $750 million allocated to claims under $50,000 and the remainder to larger claims.
By this point, FTX’s restructuring team had begun converting recovered assets and liquidations into stable cash reserves, allowing a broader, more aggressive payout.
The round also gave confidence to both creditors and observers that FTX’s asset pool was recovering faster than expected.
September Round: Balanced Settlement
On September 30, FTX completed its third distribution, totaling $1.6 billion.
This round mixed both larger and smaller claimants, ensuring proportional repayment across remaining accounts.
Together with the previous rounds, the total repayment now stands at $7.1 billion, signaling consistent progress and liquidity management from the FTX recovery team.
From Collapse to Compensation
For a company once synonymous with crypto’s darkest chapter, the turnaround is notable.
After its dramatic collapse in November 2022, FTX entered bankruptcy proceedings with an estimated $8–10 billion in missing user funds.
Now, three repayment rounds later, creditors have received over 40% of total estimated assets, a figure few believed achievable during the early days of restructuring.
The progress underscores how asset recovery, strategic liquidations, and favorable market conditions have aligned to support repayments at this scale.
Behind the Numbers
While the update provides clarity on repayment figures, it also reflects months of behind-the-scenes coordination.
Each payout round required precise verification of claims, reconciliation of wallet data, and liquidation of remaining tokens and equity positions.
Sunil, who has consistently provided creditor-side updates, noted that these repayments mark measurable progress, not just projections.
He reiterated that the $16–17 billion asset base represents tangible, recoverable value, setting the stage for a stronger finish in 2026.
The latest update has reignited cautious optimism among FTX creditors.
After two years of uncertainty, the consistent repayment schedule is being viewed as a turning point.
Many note that Sunil’s transparent updates have helped restore confidence in the process, offering rare clarity in one of the crypto industry’s largest bankruptcies.
The community now awaits confirmation of the December record date, which will finalize eligibility for the next distribution round.
If the January 2026 payout proceeds as expected, most verified claims could be substantially covered before midyear.
Looking Ahead: A Path Toward Closure
FTX’s repayment roadmap is slowly approaching its conclusion.
With $7.1 billion already repaid and up to $10 billion more in remaining assets, the process is transitioning from crisis recovery to final settlement.
Sunil’s updates suggest that the bankruptcy estate is managing recoveries in a structured, phased approach, prioritizing transparency and creditor equity.
The next steps will depend on the outcome of ongoing asset sales and claims reconciliation through late 2025.
If successful, creditors could see near-full repayment by the end of 2026, a result few in the crypto space predicted after FTX’s collapse.
FTX’s story isn’t one of overnight recovery.
It’s been a long, calculated climb, but $7.1 billion in repayments marks real progress.
Each payout round has brought the exchange closer to closing one of the largest financial wounds in crypto history.
With another distribution likely just months away, creditors can finally see the end in sight.
For now, the focus shifts to January 2026, when the eagle-eyed creditors of FTX may finally begin to reclaim what was once lost.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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