FTX's "Convenience Class" Cashes Out at 120% While Sam Sits Tight and Watches

The FTX creditors' saga continues its slow-motion redemption arc, like a blockchain confirmation you can't speed up no matter how high you set the gas. On March 31, 2026, the defunct exchange will dish out roughly $2.2 billion in its fourth round of payouts, proving that sometimes, the exit liquidity is you.

Eligible creditors in the Convenience and Non-Convenience classes who've successfully navigated the KYC gauntlet and other pre-distribution hoops should see funds land in 1-3 business days. Payments will arrive via BitGo, Kraken, or Payoneer, because nothing says "getting made whole" like a third-party intermediary holding your bag first.

Here’s the breakdown of who’s getting what slice of the pie this time, because in bankruptcy, the pie is somehow both shrinking and growing at the same time:

US customer entitlement claims (Class 5B) get a 5% top-up, finally hitting that coveted 100% recovery mark, a number most degen portfolios haven't seen since 2021. General unsecured claims and digital asset loan claims (Classes 6A and 6B) each get an extra 15%, also reaching full recovery, which is basically the financial equivalent of a perfect health score in a video game.

The so-called 'Convenience' class (Class 7) is living up to its name, scoring a cumulative distribution of 120%—because in the topsy-turvy world of crypto bankruptcy, you can apparently make a profit on your own collapse. Dotcom Customer Entitlement Claims (Class 5A) get an 18% boost, bringing their total recovery to 96%, which is basically "FUD" levels of incompleteness but still pretty solid for a shipwreck.

Meanwhile, there's a separate, presumably velvet-roped queue forming for preferred equity holders, because some bags are just more designer than others. The trust set an April 30, 2026, record date for them, with the first payment scheduled for May 29. To get paid, they'll need to complete ownership certification, KYC checks, and submit tax docs, a bureaucratic trifecta that makes filing your own taxes look like a gasless transaction.

This March 2026 distribution is just the latest installment in a payout process that kicked off over a year ago, moving with the speed and grace of a congested L1. It started with a round for the 'Convenience Class' in February 2025, followed by a massive $5+ billion round that May that briefly broke the internet, and a $1.6 billion round last September that everyone had mostly forgotten about.

From his not-so-convenient federal housing assignment, FTX founder Sam Bankman-Fried has previously claimed the exchange wasn't insolvent and that lawyers pushed the Chapter 11 filing. The crypto world largely met those claims with a collective eye-roll so powerful it could have mined a Bitcoin block. He's currently serving a 25-year sentence following his 2023 conviction on seven criminal counts, providing ample time to reflect on the difference between "illiquid" and "insolvent" from a whole new perspective.