• FTX won court approval to reduce its claims reserve by 1.9 billion and plans to start payouts in September 2025.
• Verified claimants must complete KYC and submit tax forms to receive payments through selected service providers.
• FTX reserve cut frees up funds and speeds up payouts for customers with updates expected before the August 15 deadline.

FTX has received court approval to cut its disputed claims reserve by $1.9 billion. This adjustment lowers the reserve from $6.5 billion to $4.3 billion. The Delaware bankruptcy court granted the approval following the resolution and disqualification of several claims.

🪙 LATEST: FTX’s next creditor payout is set for September 30, 2025, with August 15 as the record date.

This follows a $1.9 B reserve reduction, freeing funds to disburse via BitGo, Kraken & Payoneer.

A meaningful step toward finalizing FTX's restructuring and getting capital… pic.twitter.com/UYmsgYXEQa

— CryptosRus (@CryptosR_Us) July 24, 2025

The reduction allows FTX to release more funds for customer and creditor distributions. This move is expected to fast-track payments to eligible parties. The FTX Recovery Trust will oversee these payments through BitGo, Kraken, and Payoneer.

Next Record Date Set for August 15

FTX has confirmed August 15, 2025, as the next record date for eligible claims. Only verified claims listed by that date will qualify for payments. This applies to Class 5 Customer Entitlement Claims, Class 6 General Unsecured Claims, and newly allowed Convenience Claims.

Distributions will begin on or around September 30, 2025. All claimants must meet Know Your Customer (KYC) requirements. They must also submit necessary tax documentation before the payout date.

Only Verified Claim Holders Will Receive Funds

FTX clarified that only verified claim holders will get paid. Any transferred claim must be updated in the official register by August 15. Failure to do so will exclude the new owner from the payout process.

BitGo, Kraken, and Payoneer will manage all approved distributions. FTX emphasized that customers must reach out to these providers for any issues. FTX will not manage individual account access or payment updates.

Asset Reallocation Made Distributions Possible

FTX managed to reallocate reserved assets after settling or removing disputed claims. This made the reserve reduction possible. Recently, FTX unstaked $31 million in Solana tokens. However, it has not confirmed how these funds will be used. Meanwhile, Chinese creditors have objected to a motion to restrict payouts in certain regions, citing $800M in claims across 49 jurisdictions.

FTX reminded claimants to avoid phishing scams. It warned users not to click on unknown links or share private wallet keys. The company also stated it would never ask users to connect wallets.

Customer Responsibility After Payouts

Once funds reach provider accounts, customers will bear full responsibility. They must manage their funds independently. Any questions must go to BitGo, Kraken, or Payoneer directly.

Meanwhile, a new platform from crypto exchange Backpack now allows FTX creditors to sell their debt claims. This adds liquidity for those who prefer early exit from the claims process.