The Big Day Has Arrived: FTX's $5 Billion Payments Are Starting! Here Are the Official Statements

Former users of the bankrupt cryptocurrency exchange FTX reported that they have started receiving the long-awaited debt payments.

In a statement made today by FTX officials, it was announced that the second round of payments, valued at approximately 5 billion dollars, has officially been initiated as part of the bankruptcy plan.

In an official statement made through the former Twitter account X (, it was stated, "FTX today announced that it has begun the second distribution worth over 5 billion dollars to the holders of accepted claims in the Convenience and Non-Convenience classes, provided that they complete the pre-distribution requirements. Customers can expect to receive payments within 1 to 3 business days starting from today."

During the distribution process, the crypto custody service provider BitGo and the crypto exchange Kraken serve as official "distribution partners". FTX Trading Ltd. had previously announced that the second payment phase would begin on May 30.

The restructuring process after FTX's bankruptcy is receiving mixed reactions from the public. While some criticisms suggest that the plan is unfair, some users welcome the high repayment amounts.

*This is not investment advice.

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