FTX estate sets next creditor payout date as Genesis Digital Assets fights $1 billion clawback suit

Defunct crypto exchange FTX's bankruptcy estate said it will make its next payment to creditors on March 31 as it continues moving through one of crypto’s largest and most closely watched repayment processes.

The money will be sent to creditors on the record as of Feb. 14, it said in a Tuesday statement.

The company also said it amended a proposal to reduce its disputed claims reserve, a move that could unlock additional funds for near-term distributions if approved by the bankruptcy court.

Meanwhile, the estate is still pursuing litigation aimed at recovering assets it says were improperly transferred before the exchange collapsed in November 2022.

Genesis Digital Assets, a bitcoin mining company, is fighting a lawsuit brought by the FTX estate seeking roughly $1 billion, according to Bloomberg Law. The case is part of the broader “clawback” strategy: not just identifying what assets remain, but challenging transfers made before the exchange’s collapse.

Genesis is pushing to dismiss the suit, Bloomberg Law reported, rejecting the estate’s claims and challenging the legal grounds for pursuing the alleged transfers.

Together, the two developments show how FTX’s post-collapse clean-up has evolved into something more than payouts. Creditors are getting closer to cash, but the estate is also drawing new battle lines, with billion-dollar disputes that could determine how much creditors ultimately recover and which counterparties may be forced to return money they already received.