FTX estate adds Payoneer as third distributor alongside Kraken and BitGo

The FTX Recovery Trust and FTX Digital Markets announced Tuesday that global fintech firm Payoneer will help distribute payouts from the bankrupt cryptocurrency exchange.Payoneer is available as a distributor for customers with payments dated after May 30, 2025, the press release said. Payoneer is the third distributor for FTX, and the second for FTX DM.Payoneer is expected to assist in distributing FTX funds to customers across its 93 supported jurisdictions. However, some users on social media platform X have expressed frustration, as their respective countries remain outside the distribution coverage despite the addition of Payoneer.At the end of last month, FTX announced that it has begun the second distribution of over $5 billion to former customers, in accordance with its Chapter 11 reorganization plan. The overall repayment plan aims to distribute between $14.7 billion and $16.5 billion, with recoveries varying based on claim type and valuation.However, some users have criticized FTX's bankruptcy plans, especially because the distribution is based on the dollar value of their account holdings at the time of its bankruptcy in 2022, during a market downturn. The price of bitcoin on Nov. 11, 2022, was $17,583, significantly lower than today's price of $109,547.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.