FTX’s bankruptcy process is moving into another major payout round, with the estate outlining how and when funds will reach eligible claimants.

### What happened

FTX Recovery Trust said it will distribute approximately **$2.2 billion** to creditors on **March 31, 2026** as part of the exchange’s Chapter 11 recovery plan. The trust described the payment as the **fourth distribution** under the plan.

According to the announcement, creditors in both “Convenience” and “Non-Convenience” classes who have completed onboarding steps should receive funds within **1–3 business days** via approved distribution providers, including **BitGo**, **Kraken**, or **Payoneer**.

The trust also reiterated that distributions are made in **U.S. dollars** to these providers, which then enable recipients to withdraw fiat or convert to digital assets depending on the platform’s options.

### Recovery rates highlighted

The trust said the latest round increases cumulative recovery percentages across several claim classes. It cited examples including:

* Certain claimants approaching the high-90% range of recovery

* Some U.S. customer claim categories reaching **100%**

* One class receiving distributions that total above 100% cumulatively (reflecting plan terms, interest, or other adjustments)

### Why it matters

FTX’s collapse in November 2022 was a defining event for the industry—triggering a wider loss of confidence, intensifying regulatory scrutiny, and accelerating bankruptcies across crypto lending and trading. Large, structured repayments are a key test of whether complex crypto estates can unwind claims without prolonged delays or major disputes.

The mechanics also matter: routing funds through a small set of providers creates a practical path for distribution but may raise questions around eligibility friction, onboarding requirements, and user experience for international claimants.

### What to watch next

* **Execution risk:** whether payments arrive on schedule and without major processing issues.

* **Dispute tail:** late or contested claims could continue for months or years.

* **Market impact:** recipients converting to crypto (or to cash) can create localized demand or sell pressure, depending on preferences.

The trust indicated additional timelines—such as payments to preferred equity holders—are also scheduled later this year, suggesting the wind-down is entering a more operationally mature phase.