• FTX is set to distribute funds to approved claimants via BitGo and Kraken starting April 11, 2025.
• To ensure timely payment, customers must complete KYC and tax form submissions.
• The next distribution phase is scheduled for May 30, 2025, focusing on finalized claims.

FTX Trading and the FTX Recovery Trust have officially announced the upcoming payment date for validated claims. The next wave of distributions is scheduled for April 11, 2025, encompassing Class 5 Customer Entitlement Claims, Class 6 General Unsecured Claims, and newly approved Convenience Claims.

This announcement follows the initial payout of approximately $1.2 billion to claimants with claims under $50,000. FTX has partnered with BitGo and Kraken as their official Distribution Service Providers to manage these payments. Market analysts are suggesting that these substantial payouts could potentially influence Bitcoin’s price trajectory.

Customer Payment Process and Necessary Steps

FTX has detailed the required steps for claim holders to receive their allocated funds. Customers are required to complete Know Your Customer (KYC) verification, submit the necessary tax documentation, and onboard with either BitGo or Kraken. Fulfillment of these prerequisites is essential for receiving payments.

Payments for the upcoming phase are anticipated to commence on May 30, 2025, with eligible customers expected to receive funds within one to three business days. However, failing to complete pre-distribution steps will result in payment delays.

For claims that have been transferred, distributions will only be directed to the officially registered transferee. The claim must be fully processed and formally recorded. A 21-day objection period must also lapse before funds are disbursed.

Ongoing FTX Recovery and Reimbursement Efforts

FTX is underscoring its dedication to reimbursing its customer and creditor base. The company is actively engaged in efforts to return funds to further claim categories. While significant progress has been achieved, the recovery process remains ongoing.

Customers seeking information regarding their fund availability should reach out to their selected Distribution Service Provider directly. Upon payment processing, claim holders will assume full responsibility for managing their funds. FTX will continue to provide updates to customers regarding future distributions and any potential modifications to the payment timeline.