FTX, a cryptocurrency exchange undergoing Chapter 11 bankruptcy, is facing delays in distributing funds to its creditors. The approved distribution service providers, BitGo and Kraken, are unable to process payouts for creditors in certain countries such as Egypt, Iran, Nigeria, Ukraine, China, Russia, and Saudi Arabia. Despite some creditors from these countries having accounts with the service providers, residents in these locations cannot select a distribution method via the FTX Customer Portal. The initial round of distributions is expected to occur in March 2025. Creditors must complete pre-distribution requirements, including KYC verification and tax form submission, by January 20, 2025, to receive the first round of payments. Latecomers can still receive distributions at a later date.



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