The FTX Recovery Trust confirmed on March 18, 2026, that its fourth major creditor distribution - roughly $2.2 billion - will begin on March 31.
Key Takeaways
FTX will distribute ~$2.2B to creditors starting March 31, bringing total payouts to ~$10B
Some creditor classes hit 100% recovery – but based on 2022 crypto prices, not today’s
Creditors must have completed KYC and tax forms by the February 14 record date to qualify
SBF’s bid for a new trial was called “incoherent” by prosecutors; conviction remains intact
The official announcement marks one of the more concrete milestones in the exchange’s drawn-out Chapter 11 reorganization, pushing cumulative payouts toward the $10 billion threshold since proceedings began.
The disbursement targets several creditor classes, each at varying recovery levels. U.S. customers (Class 5B) are set to reach full 100% recovery after an additional 5% payout, while Dotcom customers (Class 5A) will receive an extra 18%, landing at 96%. General unsecured creditors and digital asset loan holders are also reaching the 100% mark with a 15% top-up. Creditors in the Convenience Class – those with smaller claims – are actually exceeding their original value, with a cumulative payout hitting 120%.
Payments are expected to clear within one to three business days of the March 31 start date. Distribution runs through three approved providers: BitGo, Kraken, and Payoneer. All initial payouts are denominated in USD, though some platforms offer recipients the option to convert to crypto or stablecoins after the fact.
How to Claim Your Distribution
Eligibility is not automatic. Before anything else, three conditions must have been met by the February 14, 2026 record date:
KYC/AML verification completed
Tax documentation submitted (W-8 or W-9)
Registration finalized with an approved Distribution Service Provider (DSP)
Those who missed the deadline are not eligible for this round.
Choosing Your Provider – and Why It Matters
The claim process runs through the FTX Customer Portal, where creditors select one of three approved DSPs: BitGo, Kraken, or Payoneer. The decision is permanent. Switching providers after onboarding is not possible, and selecting a DSP means waiving the right to receive direct cash payments from the FTX estate.
BitGo & Kraken
Create or link an account using the exact email tied to your FTX Customer Portal profile
Complete additional KYC verification on the platform
Agree to the provider’s Terms of Service
Payout options: cash, crypto, or stablecoins
Payoneer
Even existing account holders must open a new account through the FTX portal link
No platform choice for payout – funds go directly to a linked bank account
Regional laws and transfer minimums apply
What Comes Next
April 30, 2026 – Record date for preferred equity holders
May 29, 2026 – First payment to preferred equity holders + tentative fifth general creditor distribution
Equity holders must submit an ownership certification, complete KYC, and appear on the official FTX docket by April 30 to qualify.
Not everyone views the recovery in purely positive terms. Creditor advocate Sunil Kavuri has been vocal in arguing that 100% recovery is misleading – the figure is based on petition-date values from late 2022, when Bitcoin traded around $16,871. Those who held crypto at the time of FTX’s collapse have missed substantial market gains in the intervening years. Whether the $2.2 billion injection stimulates broader crypto market activity or simply gets absorbed without effect is another open question analysts have yet to agree on.
SBF’s Retrial Bid Hits a Wall
Separately, the legal chapter around FTX founder Sam Bankman-Fried continues to grind forward. On March 11, federal prosecutors from the Southern District of New York filed a rebuttal against SBF’s motion for a new trial, describing his arguments as “incoherent” and “fanciful.”
The motion had three central claims. First, SBF argued that former FTX executives Daniel Chapsky and Ryan Salame could provide new exculpatory testimony. Prosecutors dismissed this, noting both individuals were known to the defense ahead of the 2023 trial – failing the legal standard for newly discovered evidence. Second, SBF maintained that additional testimony would establish FTX’s solvency. The government pushed back with a pointed counterargument: at the time of collapse, FTX held only 105 bitcoin against customer claims approaching 100,000. Finally, SBF alleged his prosecution was a politically motivated “weaponization” of the Justice Department – a claim prosecutors called groundless, noting he was among the largest Democratic donors in both 2020 and 2022.
SBF is currently serving a 25-year sentence at a federal facility in California. His pro se filing is separate from the formal appeal pending before the Second Circuit. Judge Lewis Kaplan has also ruled that SBF’s mother cannot act on his behalf given he already has legal representation. Co-defendant Caroline Ellison was released in January 2026 after 440 days served. Ryan Salame remains incarcerated, with a 7.5-year sentence.
Reports from early 2026 indicate the Trump administration has no plans to grant clemency, and legal observers broadly consider the conviction difficult to overturn given the current state of the motion.
