SBF Is in Year 4 of Prison. FTX Is Still Writing Checks — But TODAY Is the Cutoff.

Sam Bankman-Fried is sitting in a federal prison. His co-conspirators have pled guilty. FTX’s name is synonymous with the worst fraud in crypto history.

And yet — FTX is still paying people back. More than $9 billion across four rounds. And today, June 16, is the last day to get in line for round five.

The Deadline

The FTX Recovery Trust officially set June 16, 2026 as the record date for its next distribution. That means today is the snapshot date — creditors who have completed all required steps by tonight will be eligible. Those who haven’t are out until the next round.

Distributions begin July 31, 2026, routed through three approved providers:

• BitGo
• Kraken
• Payoneer

If you haven’t onboarded with one of them, you won’t be receiving anything on July 31.

What You Actually Need to Do

Eligibility for this round requires three things:

1. Complete KYC verification — standard identity checks through the FTX claims portal at claims.ftx.com
2. Submit required tax forms — U.S. and international documentation depending on jurisdiction
3. Onboard with a distribution partner — BitGo, Kraken, or Payoneer must have you in their system

For creditors who have transferred their FTX claims — sold them to a third-party buyer — the transfer must already be reflected on the official claims register and the 21-day objection window must have closed without a challenge.

NFT claim holders have slightly more time: their eligibility process opens June 30, 2026, through the FTX Customer Portal.

The $600 Million Wildcard

Separately, FTX filed an amended notice with the U.S. Bankruptcy Court seeking approval to reduce its disputed claims reserve by approximately $600 million — cutting it from $2.4 billion to $1.8 billion.

If approved, that $600 million would be freed up and flow into creditor distributions. Court approval is pending, so it’s not guaranteed — but it would meaningfully increase the total pot available for payout.

By the Numbers

FTX has now completed four rounds of distributions since the bankruptcy:

Round	Approximate Date	Amount
Round 1	Early 2025	~$1.2B
Rounds 2–3	Mid–Late 2025	~$5.9B
Round 4	March 31, 2026	~$2.2B
Total		$9.3B+

Several creditor classes — primarily those with smaller claims — have already received 100% recovery (in cash, at 2022 dollar values, not at current BTC prices). Larger institutional creditors are still waiting on remaining distributions.

The total FTX estate was valued at approximately $14–16 billion at the time of the bankruptcy reorganization plan, suggesting more rounds are still ahead.

The Part Nobody Talks About

Here’s the awkward truth: creditors who held FTX claims in crypto are getting paid in dollars at 2022 prices, not in the assets they held. Bitcoin was worth roughly $16,000–$18,000 when FTX collapsed in November 2022. It’s now over $66,000.

That means an FTX creditor who held 1 BTC is recovering roughly $16,000 in cash — not $66,000 worth of Bitcoin. They’re technically being made “whole” under bankruptcy law. In crypto terms, they’re still getting wrecked.

This math has made some creditors furious and sparked ongoing legal disputes, but the reorganization plan was confirmed, and it’s the structure courts are enforcing.

Why This Matters for Crypto Jobs

The FTX saga has quietly become one of the biggest drivers of crypto hiring in segments nobody talks about:

Compliance and KYC infrastructure. Every exchange, protocol, and wallet provider watched FTX collapse and started hiring compliance leads, AML specialists, and trust architects. The lesson: if you can’t prove you’re not FTX, you’re not raising or listing.

Bankruptcy and creditor services. Kroll, BitGo, and the legal teams running the FTX estate have collectively hired hundreds of professionals. This has created an entirely new specialty: crypto restructuring. It now pays extremely well.

Claims management platforms. Startups built specifically to help creditors navigate FTX claims — including Qredax, Xclaim, and others — have grown headcount and raised rounds off the back of this recovery process.

Trust infrastructure at exchanges. Kraken and BitGo serving as distribution partners isn’t just a logistics choice — it’s a brand signal. Both companies have been actively hiring to support the volume. Proof-of-reserves, custody ops, and compliance engineering roles are open across both.

If you’re a builder in crypto compliance, custody, or fintech legal, the FTX story hasn’t ended. It’s created a permanent job category.

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FTX creditors who haven’t yet completed their distribution setup can access the portal at claims.ftx.com. If you’re looking to work in the infrastructure being built to prevent the next FTX — browse open roles on Cryptogrind.