FTX distribution payments do not start on September 30.

The FTX bankruptcy estate reports that total claims from affected parties exceed $11 billion, as a court hearing to confirm the restructuring plan approaches. Although rumors on social media suggest that reimbursement funds will start being distributed to creditors and customers on September 30, 2024, these claims are false, as the reimbursement plan has yet to be approved by the court. 

According to the latest Chapter 11 filing, the next court hearing to approve the plan is scheduled for October 7, 2024, under the oversight of Judge John T. Dorsey of the U.S. Bankruptcy Court for the District of Delaware. If approved, smaller claimants with claims under $50,000 could begin receiving payments by the end of 2024, while those with larger claims might not see distributions until the first or second quarter of 2025.