After nearly three years of bankruptcy proceedings, FTX’s repayment plan is steadily advancing toward another milestone. According to recent updates, the collapsed crypto exchange is preparing its fourth round of creditor repayments, scheduled for January 2026, while the cutoff date for determining creditor eligibility is expected to fall sometime in December 2025, though no official date has been confirmed.
FTX’s Remaining Assets Before Full Repayment
Before any remaining distributions, FTX’s total available assets are estimated between $16 billion and $17 billion. This valuation represents the pool of recoverable funds and investments set aside to compensate creditors. However, these figures are still subject to adjustments as asset valuations evolve and additional recoveries or administrative costs are accounted for.
The estate’s management continues to identify, liquidate, and allocate assets, including crypto holdings, venture investments, and fiat reserves, all under court supervision.
Breakdown of Repayments Completed in 2025
Throughout 2025, FTX executed three major repayment rounds to creditors, marking a significant step forward in restoring trust and financial balance after its 2022 collapse:
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February 18, 2025: $454 million distributed
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May 30, 2025: $5 billion distributed
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September 30, 2025: $1.6 billion distributed
In total, approximately $7.1 billion has been repaid to creditors so far. These staged repayments underscore the progress made under the bankruptcy restructuring plan, managed by FTX’s appointed administrators and overseen by the U.S. bankruptcy court in Delaware.
Each payout round has required extensive verification of creditor claims and liquidity availability — a process that continues to pose logistical and legal challenges.
The Upcoming Round: January 2026
The next repayment round, expected in January 2026, marks a critical step toward completing FTX’s obligations. While the exact distribution amount has not been disclosed, it will depend on both the remaining verified claims and the available liquid assets after prior distributions and administrative costs.
Importantly, the “record date” or eligibility cutoff — the date that determines which creditors are entitled to participate in the next payout — is anticipated to occur in December 2025. However, FTX’s management has not yet confirmed an official date.
Creditors are urged to monitor official communications and court filings closely, as missing the eligibility deadline could impact their right to receive payments.
What Creditors Need to Know
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Remaining assets: Approximately $16–17 billion before deductions.
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Repayments completed: Around $7.1 billion in total across three distributions in 2025.
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Next repayment: Scheduled for January 2026.
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Eligibility cutoff: Expected in December 2025, pending official confirmation.
FTX’s administrators continue to emphasize the importance of maintaining updated contact and claim information through the bankruptcy claims portal. Creditors are advised to submit all required documentation and proof of claims within designated timeframes to ensure eligibility for upcoming distributions.
Outlook
The upcoming fourth repayment round in early 2026 signals FTX’s ongoing effort to bring closure to one of the largest bankruptcy cases in crypto history. While substantial progress has been made, the process remains complex, with the final total return to creditors depending on future asset recoveries, court rulings, and administrative resolutions.
If current estimates hold, the estate could distribute a significant majority of its available assets by mid-2026 — potentially marking the final chapter in the FTX liquidation saga.
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