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1Scan for outdated or missing drivers - takes under a minute2Repair Windows errors before they cause bigger problems3Fix the driver behind crashes, sound loss and screen glitchesThe $12.7 billion figure is a 2024 court-ordered obligation against FTX Trading Ltd. and Alameda Research LLC—not a separate $12.7 billion payment on top of FTX’s bankruptcy distributions. The order comprises $8.7 billion in restitution and $4 billion in disgorgement, and it provides credits tied to specified bankruptcy-plan distributions. FTX’s official information currently anticipates a distribution on July 31, 2026, but that date does not guarantee an individual creditor will be paid.
What the $12.7 billion court order requires
On August 7, 2024, the U.S. District Court for the Southern District of New York entered a consent order against FTX Trading Ltd., doing business as FTX.com, and Alameda Research LLC. The defendants are jointly and severally responsible for two obligations: $8.7 billion in restitution for people whose losses were proximately caused by the violations described in the order, and $4 billion in disgorgement for gains connected to those violations.
Restitution and disgorgement are distinct legal remedies. Restitution is tied to qualifying losses; disgorgement is aimed at gains connected with the violations. The order says the obligations are subject to credits and payment arrangements under the CFTC settlement and an eligible bankruptcy plan. It provides dollar-for-dollar credits against restitution for specified FTX.com and FTX.US customer claims and Alameda lender claims, and against disgorgement for distributions toward the CFTC’s allowed disgorgement claim.
The order states: “If the Eligible Plan is fully effectuated and administered, the Restitution Obligation and Disgorgement Obligation shall be deemed satisfied.” That language is why the headline total should not be read as an additional cash pool independent of bankruptcy distributions.
When will FTX creditors get paid?
FTX’s distribution-provider information anticipates the next distribution on July 31, 2026. It identifies June 16, 2026 as the record date and deadline for specified pre-distribution requirements. The page says subsequent distributions are at the Plan Administrator’s discretion. A scheduled date is not a promise that every creditor will receive funds then.
FTX says jurisdiction eligibility is assessed and that the portal may be updated as eligibility changes. Because dates and eligibility information can change, use the official distribution page for the latest instructions rather than relying on a saved country list or an older article.
Who is eligible, and what must creditors do?
FTX’s Distribution Dashboard FAQ says only holders of Allowed Claims are eligible for a distribution. A filed claim is not necessarily an Allowed Claim; check the status shown for your claim in your account.
For the anticipated July 31, 2026 distribution, FTX says holders must satisfy Plan requirements by the June 16, 2026 record date. The stated requirements include:
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- Complete KYC verification.
- Submit a completed, valid tax form.
- Successfully onboard with a distribution service provider.
- Pass sanctions screening.
Missing a required step can prevent payment on the scheduled date. The FAQ also describes circumstances in which a distribution can later be forfeited. To check an individual claim or payment status, sign in to the official FTX claims portal and review your account record; the $12.7 billion headline cannot establish your personal payout.
Does $12.7 billion mean customers get all their money back?
No. The court-order amount is not an individual recovery estimate, and it does not tell a creditor how much they will receive. Eligibility, the allowed claim amount, plan terms, required account steps, and distributions already made or credited all matter. The order’s credits also mean the obligations and plan distributions interact rather than operate as two wholly separate payments.
Historical plan estimates are different figures. In May 2024, the Associated Press reported FTX estimates of about $11.2 billion owed to creditors and between $14.5 billion and $16.3 billion available for distribution. It also reported that claims of about $50,000 or less were projected to receive about 118% under the plan, covering about 98% of customers. These were estimates reported in 2024, not a current or universal recovery guarantee, and they do not determine an individual’s final payment. Associated Press, May 2024.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why a dollar-based claim may not replace the value of crypto
A claim settled in dollars is not the same as receiving the same amount of cryptocurrency back. The AP reported that Bitcoin was about $16,080 when FTX filed for bankruptcy in November 2022 and close to $62,675 on the day of its May 2024 report. Those are historical market-price observations, not measures of an allowed claim or a creditor’s payout. They illustrate why a dollar recovery can differ from the later market value a customer might associate with assets held on the exchange.
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What happened in Bankman-Fried’s criminal case?
The CFTC consent order and FTX bankruptcy distributions are separate from Sam Bankman-Fried’s criminal case. The Associated Press reported on June 12, 2026, that the Second U.S. Circuit Court of Appeals upheld his fraud conviction and 25-year prison sentence, rejecting his argument that trial rulings made the trial unfair. That appellate decision does not change the distribution requirements described by FTX. Associated Press, June 12, 2026.
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