FTX’s Bizarre $1.6B Repayment: They’re Still Paying Back After 3 Years. Here’s Why!

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Finance

What You Really Need to Know (Because Who Doesn’t Love a Bit of Drama?):

  • FTX’s bankruptcy circus will throw another $1.6 billion at creditors on September 30. Will it be enough to keep them happy? Stay tuned.
  • The September handout follows over $6 billion already splashed around like confetti, all part of the grand plan to sort out FTX’s colossal mess since their spectacular crash in 2022.

Ah, FTX. The gift that keeps on giving… or, more accurately, the gift that’s still paying off its creditors nearly three years after the entire crypto universe caught fire. The latest installment? A tidy $1.6 billion, set to roll out on September 30, marking the third grand payout in what might just be the longest, most complicated “oops, we messed up” tour in financial history.

The FTX Recovery Trust-essentially the financial babysitter-let us all know last Friday that the payout extravaganza will kick off at the end of the month. But, of course, you’ve got to jump through a few hoops first. Creditors must confirm their claims via the FTX claims portal. Once that’s done, the funds will be funneled through such illustrious names as BitGo, Kraken, or Payoneer, and arrive in your account faster than you can say “I didn’t invest in crypto, but I’m still getting a check?”

Now, hold on to your wallets because here’s where it gets spicy. U.S. customers-those lucky ducks-will receive a solid 40% in this round, bringing their total recovery to a whopping 95%. “Dotcom” customers, those adventurous souls who dared to roam the international exchange, will get another 6%, bringing their total to a humble 78%. As for the general unsecured and digital asset loan claims? 24%, which boosts their overall recovery to 85%. And in a real twist of generosity, convenience claims are getting a 120% payout, as if someone at FTX just decided to throw in a little extra dessert after the main course.

So, what does this all mean? Well, the September distribution is part of FTX’s ongoing effort to pick up the shattered pieces of its 2022 collapse. It’s a process that has already returned more than $6 billion to creditors, as they scramble to put Humpty Dumpty back together. But don’t get too excited; Sam Bankman-Fried, the man who caused this epic disaster, is currently cooling his heels with a 25-year sentence for fraud and conspiracy. Guess what? He probably isn’t getting a payout.

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2025-09-19 23:59