FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. The FTX Recovery Trust is gearing up for its third distribution to creditors affected by the exchange’s significant collapse, with payments set to commence on September 30, 2025.  FTX Trust Confirms Payments To Eligible Creditors

According to the official statement, this distribution will be available to holders of allowed claims categorized under the Plan’s Convenience and Non-Convenience Classes who have completed the necessary pre-distribution requirements. 

Eligible creditors can expect to receive their funds through their chosen distribution service provider—either Bitgo, Kraken, or Payoneer—within one to three business days following the distribution date.  Related Reading Bitcoin Price Forecast: Expert Predicts 70% Chance Of New Highs Within Two Weeks 22 hours ago

In this upcoming distribution, the Recovery Trust will adhere to the waterfall priorities outlined in the Plan. Specifically, Allowed Class 5A Dotcom Customer Entitlement Claims will receive an additional 6%, bringing their cumulative distribution to 78%.

Meanwhile, Allowed Class 5B U.S. Customer Entitlement Claims will see a substantial 40% distribution, elevating their cumulative total to 95%. 

Additionally, Allowed Classes 6A General Unsecured Claims and 6B Digital Asset Loan Claims are each set to receive a 24% distribution, which raises their cumulative distributions to 85%. Interestingly, Allowed Class 7 Convenience Claims will benefit from a major 120% distribution. FTT Token Soars 22%

The native token of the failed exchange, FTT, has experienced notable growth . According to datafrom CoinGecko, FTT’s price has surged by 22% over the past seven days.  Related Reading Warren Calls Out US DOJ Over Binance Settlement And Alleged Trump Ties In New Letter 1 day ago

The token reached a peak of $1.13 on September 18 before experiencing a slight retracement. Over the week, FTT has fluctuated between $0.78 and $1.06. Despite this recent rally, it’s important to note that FTT’s all-time high of $84.18, achieved in September 2021, remains nearly 99% above its current price levels. The daily chart shows FTT’s price surge coupled with increased volatility. Source:FTTUSDT on TradingView.com

Featured image from DALL-E, chart from TradingView.com