FTX Exchange to Pay Clients Part of Funds Lost Due to Bankruptcy

On May 30, 2025, the FTX Recovery Trust will conduct a second round of payments to customers who suffered losses following the collapse of the FTX exchange in November 2022.

In total, over $5 billion will be distributed, made possible by the growth in the value of the company's remaining assets. Following the announcement, the price of the FTT token jumped 10%, despite the exchange being declared bankrupt and liquidated two and a half years ago. The token is still listed on crypto exchanges including Binance, although its legal status remains uncertain.

The payouts are being made through Kraken and BitGo, which are distributing the funds. However, users from Russia, Belarus, Tajikistan, and Kyrgyzstan will not be able to receive compensation yet, as these countries are excluded from the current list of available jurisdictions. Decisions have not yet been made for these regions, and the amounts may be blocked until they are resolved. The first round, which took place in February 2025, brought in about $800 million to victims. The money is received in US dollars, taking into account the exchange rate at the time of the collapse, and customers also receive a small bonus for compensation.

FTX was one of the world's largest crypto exchanges before its collapse in late 2022, which triggered a massive crisis of confidence in the industry. Last year, the platform's new management abandoned its relaunch, focusing on liquidating assets and returning funds to customers.

Earlier, Kaiko analysts recorded that crypto exchange Bybit had fully restored Bitcoin's market depth in just 30 days after a hack that led to a sharp drop in liquidity.