New round of compensation for former FTX clients
The FTX Recovery Trust, created to distribute the assets of the bankrupt cryptocurrency exchange FTX, announced its intention to pay $2.2 billion to creditors and former clients in March 2023. This is the fourth round of compensation, which began in February 2025 when FTX declared bankruptcy.
In total, since the start of the FTX asset liquidation process, about $10 billion has been paid to former clients and creditors. This is a significant amount, but still only a fraction of the $8 billion that are estimated to have been stolen or lost during the bankruptcy of the cryptocurrency exchange.
The collapse of FTX in 2022 was one of the biggest scandals in the history of the cryptocurrency industry. The exchange, run by Sam Bankman-Fried, had a wide ecosystem of related companies and went bankrupt with debts of more than $8 billion. Many FTX clients lost their funds, which dealt a serious blow to the reputation of the entire crypto industry.
The process of paying former FTX clients is slow, but the step-by-step payments of $2.2 billion will undoubtedly be an important step towards restoring confidence in the crypto sphere. However, full compensation for the damage may take years, and some victims of FTX may never get their funds back.