The Liquidators of FTX Digital are pleased to announce the launch of the payments process with distributions to Convenience Class customers expected to commence in February 2025.

The Joint Official Liquidators (“Liquidators”) of FTX Digital Markets Ltd. (“FTX Digital”) have announced that they have launched the first step in the payments process after entering into an agreement with BitGo to assist in distributing recoveries to both individual and institutional customers and other creditors (“Customers/Creditors”).

Eligible Customers/Creditors in supported jurisdictions will be invited to create a Bitgo “Go” account (“Go Account”) and receive their distribution in USD fiat into this account. Go Accounts can be used to store USD or other digital assets using a qualified custody model through Bitgo Trust Company, Inc. They also connect directly to BitGo’s Go Network, connecting users to other enterprises, platforms, and exchanges, enabling a secure and instant way to allocate, trade, and settle assets.

Distributions for Convenience Class Customers/Creditors satisfying pre-distribution requirements will commence from February 2025, with distributions to Non-Convenience Class Customers/Creditors expected to commence in Q2 of 2025.

Customers/Creditors should be aware of potential scams related to the distribution process.  The Liquidators will never ask for any payment details to be provided via email. ​Please only follow the instructions to enter your payment details via the FTX Digital Claim Portal, and do not click into external websites via untrusted emails.

ENDS

Notes to editors:

1. FTX Digital was placed into Provisional Liquidation on 10 November 2022 with Kevin Cambridge and Peter Greaves of PwC and Brian Simms KC of Lennox Paton being appointed as Provisional Liquidators by the Bahamas Supreme Court.  On 10 November 2023, the Company was placed into Official Liquidation and the Joint Provisional Liquidators were appointed by the Court as Joint Official Liquidators.
2. On 19 December 2023 the Joint Official Liquidators entered into a Global Settlement Agreement with the US Chapter 11 Debtors. The Global Settlement Agreement (amended 16 August 2024) will see assets combined from the respective estates, enabling a coordinated and accelerated return of significant value to creditors.
3. The Global Settlement Agreement includes important agreements between FTX Digital Markets and the US Chapter 11 Debtors with respect to the monetisation and distribution of the assets of the FTX group.
4. The parties have agreed that, subject to the approval of both Courts, FTX Digital will take the operational lead in the realisation of real estate and other assets in The Bahamas to maximise recoveries for customers and creditors, together with the pursuit of specific litigation and avoidance actions identified in the Global Settlement Agreement.
5. The US Chapter 11 Debtors will take the operational lead in other recovery activities including any sale transaction involving the FTX.com exchange and realisation of intellectual property. In each case, the parties will cooperate, share information and efficiently utilise the assistance of their respective Courts.
6. Customers of FTX International had the option to submit in both the Chapter 11 Debtors process and the FTX Digital Markets Liquidation but will only receive a distribution from one. They were sent disclosures informing them of the differences in each process. You can view these disclosures on by referring to the FAQs on the JOLs case website: https://www.pwc.com/ftx