BCGAME - Free 5BTC Daily Bonus!- Payoneer Joins FTX Fund Distribution
- FTX has already distributed over $5 billion
- Cryptocurrencies Valued at 2022 Bankruptcy Price
FTX's bankrupt estate has announced that global financial technology company Payoneer has been added as a third distributor to process payments to former customers of the exchange. The fintech will now work alongside Kraken and BitGo in facilitating refunds provided for in the bankruptcy proceedings of the brokerage, which went bankrupt in November 2022.
Payoneer will be responsible for distributing amounts due to creditors whose payments are scheduled for dates after May 30, 2025, as detailed in the official statement. The expectation is that the company will contribute significantly to reaching customers located in 93 jurisdictions currently supported.
Despite this, users of the social network X reported frustration, pointing out that some countries are still not included in the coverage, even with the expansion promoted by the new partnership.
FTX has announced a third distribution provider Payoneer for future customer distributions in addition to Kraken and Bitgo
Payoneer supports 190 countries
— Sunil (FTX Creditor Champion) (@sunil_trades) June 10, 2025
In the last week of May, FTX confirmed the start of its second round of distribution of funds, releasing more than US$5 billion to creditors. This phase is part of a judicial reorganization plan under Chapter 11 that foresees returning between US$14,7 billion and US$16,5 billion to the platform's users, with amounts varying according to the type of claim and classification in the process.
However, criticism persists among former clients, especially regarding the criteria for evaluating assets. The values of cryptocurrencies in the accounts were set based on the prices of November 11, 2022, the date on which Bitcoin, for example, was trading at US$ 17.583 — much lower than its current value. The time lag generated dissatisfaction, especially among investors who had large volumes of crypto assets.
The inclusion of Payoneer is seen as another technical step to speed up the refund process, offering additional payment options amid the complexity of liquidating FTX assets.
