Bankrupt Exchange FTX Set to Repay $1.6B to Creditors Starting on Sep. 30

Core Points - FTX's bankruptcy estate is set to release $1.6 billion to creditors, marking the third major payout since the exchange's collapse [1][4] - Payments will begin on September 30 for verified creditors, with funds expected to reach accounts within three business days [2] - U.S. customer claims will receive a 40% payout in this round, bringing total recovery to 95%, while "Dotcom" customers will see a 6% payout, totaling 78% [3] Summary by Category Bankruptcy Process - The FTX Recovery Trust announced the upcoming distribution of $1.6 billion to creditors [1][2] - Payments will be processed through BitGo, Kraken, or Payoneer [2] Recovery Distribution - U.S. customers will receive a 40% payout, increasing their total recovery to 95% [3] - "Dotcom" customers will receive an additional 6%, totaling 78% in cumulative distributions [3] - General unsecured and digital asset loan claims will receive a 24% payout, raising recoveries to 85% [3] - Convenience claims will be paid out at 120%, exceeding the original amounts owed [3] Historical Context - The September distribution follows previous rounds that returned over $6 billion to creditors [4] - The collapse of FTX in November 2022 significantly impacted the crypto industry, leading to a bear market [4] - Sam Bankman-Fried, the founder of FTX, is currently serving a 25-year sentence for fraud and conspiracy [4]