Crypto Rover, a well-known crypto trader, sent a reminder that FTX is set to return over $5 billion to its creditors starting tomorrow, with the entire massive payout being made in stablecoins.
There’s still some confusion on whether this is true or if the amount is correct, mainly because back in May 2025, there was a widely reported plan for FTX to distribute over $5 billion in stablecoins to creditors. Supposed to start on May 30, it would represent a substantial liquidity event.
However, the exact amount wasn’t disclosed. More recently, the FTX Recovery Trust confirmed it will distribute $1.6 billion in stablecoins on September 30, 2025, the third major payout since the platform collapsed in 2022, under its Chapter 11 reorganization plan.
Related: Crypto Faces Volatile Week With Fed Remarks, FTX Distribution, and Labor Data
Rumors of $5 Billion vs. Confirmed $1.6 Billion
Regardless of the actual amount, anything over $1 billion is huge, and if stablecoin distribution were to go ahead or if creditors employ similar liquidation behavior, it could have big market effects.
For instance, the alleged distribution could inject a large amount of liquidity into the crypto markets, especially into stablecoins, Bitcoin, and major altcoins.
Short-term volatility is also plausible as recipients decide whether to reinvest or cash out. The sudden abundance of stablecoins might also make them less profitable to hold.
Finally, while maybe not that impactful on the market, on a broader level, this event would put the spotlight back on the fallout from major exchange failures and the process of returning lost funds to users.
Caution is still advised
It is important to note that the next confirmed distribution from the FTX Recovery Trust is a payment of $1.6 billion scheduled for September 30, which is substantially less than the speculated $5 billion amount being reported on social media.
This large gap between the confirmed number and the rumor could easily create market confusion and drive speculative hype. Still, even rumors of large creditor repayments can drive market sentiment, leading to pre-emptive selling or buying.
There were similar events in the past, such as Mt. Gox repayments, which caused sharp, temporary price swings and messy trading, but didn’t break the market. This suggests that even a massive stablecoin payout could create a brief period of turbulence rather than cause a long-term crisis.
Related: FTX $1.6 Billion Creditor Payout Sept. 30 Turns Into Crypto’s Next Liquidity Test
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