Eligible creditors in FTX’s Convenience Classes can expect funds within 1-3 business days starting Feb. 18, according to a Feb. 7 announcement. Distributions are limited to claimants who fulfilled pre-payout requirements, including identity verification and tax documentation. The notice disclosed that separate timelines for other creditor classes remain pending.

FTX transferred funds to distribution partners Bitgo and Kraken, which will handle payouts to retail, institutional clients, and creditors in their supported jurisdictions. The exchange’s restructuring plan, approved under Chapter 11, mandates coordinated asset recovery efforts led by the FTX Recovery Trust.

The announcement notes that eligible creditors must complete know-your-customer (KYC) checks, submit tax forms, and onboard with Bitgo or Kraken via FTX’s customer portal to qualify for future distributions. Transferred claims require 21-day notice periods and official registration updates.

John J. Ray III, FTX Recovery Trust administrator, called the payout a “milestone” after 28 months of asset recovery work. The trust continues pursuing outstanding funds while overseeing phased repayments.

Recipients must contact Bitgo or Kraken directly for account-specific inquiries once distributions begin. Unclaimed funds remain the responsibility of account holders post-transfer. The FTX estate concluded by explaining that details on eligibility and processes are available on FTX’s support portal. The case continues in the U.S. Bankruptcy Court for the District of Delaware.

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