FTX Depositors
The customers of FTX who are not being fully compensated for their losses, as they are being paid based on the low crypto prices at the time of the bankruptcy, missing the subsequent market recovery.
First Mentioned
1/1/2026, 5:57:55 AM
Last Updated
1/1/2026, 5:58:21 AM
Research Retrieved
1/1/2026, 5:58:21 AM
Summary
FTX Depositors represent the collective group of customers and creditors seeking the return of assets following the collapse of the FTX cryptocurrency exchange. Contrary to some media narratives suggesting they are being 'made whole,' the bankruptcy terms value their crypto holdings, such as Solana, at the 'crash price'—the valuation at the time of the bankruptcy filing—rather than current market rates. This discrepancy has led to significant financial loss relative to the current value of the assets. The recovery process is governed by a Chapter 11 Plan of Reorganization, requiring depositors to undergo rigorous Know Your Customer (KYC) verification and submit tax documentation through specialized portals. Distributions are facilitated through third-party service providers including BitGo, Kraken, and Payoneer, with major payout phases scheduled through late 2025.
Referenced in 1 Document
Research Data
Extracted Attributes
Claim Valuation Method
Valued at the 'crash price' or petition date price rather than current market value.
Notable Impacted Asset
Solana (SOL).
Required Documentation
Know Your Customer (KYC) verification and tax forms (e.g., W-8BEN).
Primary Legal Framework
Chapter 11 Bankruptcy (U.S.) and liquidation proceedings (Bahamas).
Distribution Service Providers
BitGo, Kraken, and Payoneer.
Timeline
- FTX files for Chapter 11 bankruptcy protection following a liquidity crisis and allegations of siphoning customer funds. (Source: Web Search Results)
2022-11-11
- FTX Recovery Trust announces the commencement of the third distribution to creditors who have completed pre-distribution requirements. (Source: Web Search Results)
2025-09-19
- Scheduled start date for the distribution of approximately $1.6 billion to allowed claims in the Convenience and Non-Convenience Classes. (Source: Web Search Results)
2025-09-30
Web Search Results
- How to claim your FTX Chapter 11 bankruptcy payout in the U.S. ...
The FTX Recovery Trust confirmed that creditors will begin receiving funds starting Sept. 30. Payments in this chapter 11 bankruptcy payout will be handled through BitGo, Kraken, and Payoneer, with most deposits arriving within three business days. Here’s how this round of the chapter 11 bankruptcy distribution looks: [...] Bankruptcy filings revealed billions in customer deposits had been siphoned to sister firm Alameda Research. Mismanagement, reckless trading, and alleged fraud by founder Sam Bankman-Fried turned one of crypto’s most trusted platforms into a cautionary tale. Regulators swarmed, withdrawals were frozen, and chapter 11 bankruptcy was the only option to preserve what little remained. Scroll to Continue ## Recommended Articles ## Trump family's wealth grows by 70% By Anand Sinha [...] Portal: Log into the international FTX Digital Markets (Bahamas) claims portal (managed by PwC). KYC: Upload passport/ID card and proof of address. Make sure your documents are valid and match exactly. Tax: Submit the W-8BEN form in the portal. This is required for all non-U.S. claimants. Payment method: Provide SEPA bank details in Payoneer. This is the standard payout route across the EU.
- Using the Customer Claims Portal - FTX
All customers should provide Know Your Customer information of the original account holder. Customers should provide Know Your Customer information regardless of whether they provided it when they created their FTX account. Know Your Customer information may include details such as your name, birth date, government identification, address. This process is secure and will be conducted through a third party partner. 1. Click on Begin KYC Process. [...] Complete the submission process and click Next to continue. NOTE: Although KYC information submission is not required in order to view your account balance or file a proof of claim, the Debtors reserve the right to object to claims filed that are not verified with KYC information. For more information about the list of requirements, please visit this page: Verification ### Step 4: Review Account Balances
- The Significance and Consequences of the FTX Crypto Collapse
Even though states’ approaches to crypto vary, with some states introducing special purpose depository institution charters, the level of this financial activity has been relatively low. [...] a significant jurisdictional dispute: much of FTX’s operations were conducted in the Bahamas through FTX Digital Markets Ltd. The Securities Commission of the Bahamas has launched a liquidation proceeding to recover assets and deposits that may or may not be subject to the U.S. bankruptcy court. (Digital Markets is not part of the U.S. proceeding because the Bahamas had already put it in liquidation.) [...] The bankruptcy of major cryptocurrency platform FTX is causing massive fallout in this evolving financial industry. On Monday, U.S. prosecutors charged the founder and former CEO of FTX with several financial crimes and campaign finance violations including wire fraud and money laundering. According to the complaint released by the U.S. Securities and Exchange Commission, Sam Bankman-Fried orchestrated years of fraud by diverting investor funds to his private hedge fund and used those funds to
- FTX Recovery Trust to Distribute Approximately $1.6 Billion ...
WILMINGTON, Del., Sept. 19, 2025 /PRNewswire/ -- FTX Trading Ltd. (d/b/a. FTX.com) and the FTX Recovery Trust (collectively "FTX") today announced that, consistent with FTX's Chapter 11 Plan of Reorganization (the "Plan"), FTX will commence distributions to holders of allowed claims in the Plan's Convenience and Non-Convenience Classes that have completed the pre-distribution requirements on September 30, 2025 (the "Third Distribution"). Eligible creditors should expect to receive funds from [...] Login to the FTX Customer Portal ( (applicable to customers). Complete required Know Your Customer ("KYC") verification. Submit the required tax forms. Onboard with either BitGo, Kraken or Payoneer, FTX's Distribution Service Providers. FTX will provide instructions for onboarding with each of the Distribution Service Providers on the existing FTX Customer Portal. [...] Provider directly.
- [PDF] FTX Digital Markets Ltd. Claims User Guide - PwC
• KYC invitations are being sent to customers in batches. You will receive an email notification in due course, inviting you to start Identity Verification in FTX Digital Claim Portal. • Once you receive this email, please log in to your FTX Digital Claim Portal account and review the “Process” panel of your dashboard. – If you are awaiting an invitation to start Identity Verification, your status will be shown as “Identity Verification Not Available”. [...] Payoneer has set up a specific FTX Digital page and therefore Customers who have previously registered with Payoneer will still be required to onboard through the FTX Digital page. Please do not try to register for Payoneer using other links as this may result in delays to receiving payment. • Once you have submitted your details, you are not required to take any further action. We will review whether you have been successfully verified via Payoneer and, if you have been verified, we will [...] – Document Submission Required: Further documentation is required to verify your identity and you have been invited to submit this via the FTX Digital portal. Once you have successfully submitted your documents your status will revert to “Identity Verification In Progress”. – Identity Verification Successful: Your identity has been successfully verified and we will contact you once your progress to the next stage in the portal.