FTX's $900M Payout Drops Friday — And Unverified Creditors Now Have 6 Months to Claim or Lose Everything

WHY IT MATTERS

Imagine you had money in a bank that suddenly went bankrupt. The court eventually figures out how to pay people back, but you have to prove you're really you and sign up through an official process — that's called 'onboarding.' FTX was a major crypto exchange that collapsed in 2022, and now the bankruptcy team is sending out $900 million to people who lost money. But here's the catch: if you haven't completed the verification process yet, you only have 6 months from Friday to do it. After that, your money is gone for good. Think of it like an uncashed check that expires — if you don't deposit it in time, you lose it. This matters because it shows the FTX recovery process is moving forward, and it could also affect crypto markets as hundreds of millions of dollars flow back to former users who may choose to reinvest.