FTX's Fifth Distribution Round to Launch on July 31, Distributing Approximately $900 Million; Creditors in 45 Jurisdictions Temporarily Ineligible to Claim

Odaily reported that FTX stated that only claimants in classes 5A, 5B, 6A, 6B, and 7 who have completed claim confirmation, KYC verification, tax form submission, and sanctions screening, and have successfully onboarded with BitGo, Kraken, or Payoneer by June 16, are eligible to receive the distribution. Funds are expected to arrive within 1 to 3 business days starting July 31.

Currently, creditors in 45 jurisdictions are unable to participate in this distribution round due to the lack of available distribution service providers. These regions include Russia, Ukraine, Cuba, Iran, and others. FTX stated that service provider coverage may be adjusted in the future, but even if additional regions are later added, payments cannot be retroactively applied to the July 31 distribution.

FTX reminded that if creditors fail to complete the service provider onboarding process within six months from July 31, they may lose their distribution rights for the corresponding claim. As of now, FTX has announced cumulative distribution percentages as follows: 105% for Classes 5A and 5B, 103% for Classes 6A and 6B, and 120% for Class 7. However, these percentages are based on the court-approved claim amounts, not current market values.