FTX's Fifth Distribution Set to Begin on July 31, Approximately $900 Million to be Disbursed, Creditors in 45 Jurisdictions Unable to Claim

FTX has announced that the fifth round of distributions will commence on July 31, with approximately $900 million in funds expected to be credited within 1 to 3 business days. Only claimants in categories 5A, 5B, 6A, 6B, and 7 who have completed claims confirmation, KYC verification, tax form submission, and sanctions screening by June 16, and have successfully onboarded with BitGo, Kraken, or Payoneer will be eligible to receive payments. Currently, creditors in 45 jurisdictions, including Russia, Ukraine, Cuba, and Iran, are unable to participate in this round of distributions due to the lack of available distribution service providers. FTX has stated that the coverage of service providers may be adjusted in the future, but even if access is opened later, payments from July 31 will not be retroactive. FTX reminds creditors that if they do not complete onboarding with a service provider within six months from July 31, they may lose their right to distributions for the corresponding claims. As of now, FTX has announced cumulative distribution rates of 105% for categories 5A and 5B, 103% for categories 6A and 6B, and 120% for category 7, based on the amounts approved by the court rather than current market values.