FTX Claim Classes Explained and What They Pay

Every FTX claim sits in a class. The class is not a label you choose - it is assigned by the FTX Recovery Trust based on what kind of claim you hold and which FTX entity it is against. And it matters more than almost anything else, because the class is what sets the recovery percentage.

When a creditor asks Qredax "how much is my claim worth," the first question back is usually "what class is it." A Class 5A claim and a Class 7 claim of the same face value do not recover the same amount, so they do not carry the same offer.

Every claim in the case began as a proof of claim (POC) filed before the bar date, the court's submission deadline, and the FTX Chapter 11 plan pays each class pro rata - holders in a class share distributions in proportion to their allowed amounts.

This guide explains the main FTX claim classes - Class 5A, Class 5B and the Class 7 convenience class - what determines which one your claim falls into, why class drives recovery, and which classes Qredax buys.

What a Claim Class Is

A bankruptcy plan does not treat every creditor identically. It sorts claims into classes, and each class has its own treatment - its own recovery percentage and its own distribution mechanics. The FTX plan of reorganisation, confirmed in the Delaware bankruptcy case, does exactly this.

Your class is determined mainly by two things: the type of claim you hold (a customer claim for assets you had on the exchange, versus a general unsecured claim) and the FTX entity the claim is against. FTX was not one company; it was a group, and the international exchange and the US exchange were separate legal entities with separate customer pools.

You do not select your class. The Trust assigns it, and it appears against your claim in the Kroll claims system. If you have a claim number, the class is already attached to it.

FTX Claim Classes and What They Recover

Here is how the main classes compare. The figures below are recovery percentages - the share of your allowed claim amount the Trust pays out - not offer prices.

Class 6A (general unsecured claims) and Class 6B (digital asset loan claims) sit alongside the customer classes and are also treated at 100%. They are uncommon among CIS creditors, who almost all hold customer claims, but they round out the picture.

Two things stand out. First, every one of these classes is recovering a high percentage - the FTX estate recovered far more than early headlines suggested. Second, the headline percentages over 100% are not a profit on your original deposit. Recovery is calculated on the petition-date value of your claim - its value on November 11, 2022, the date FTX filed for bankruptcy - not on what those assets would be worth at today's crypto prices.

Class 5A - Dotcom Customers

Class 5A covers customer claims against the international FTX exchange, often called "Dotcom." Most creditors outside the United States - including the great majority of CIS creditors - hold a Class 5A claim, because the international exchange is where they had accounts.

As of Q1-Q2 2026, Class 5A has been paid roughly 96% of allowed claim amounts through the distributions made so far, with a projected total recovery of around 118-120% once remaining distributions are complete. That projection is the Trust's estimate and depends on the final value of recovered assets, so it is not a guarantee - but it is the basis on which the class is being paid.

Because 5A is the largest customer class and recovers strongly, it is the class most claim buyers focus on, and it is the core of what Qredax buys.

Class 5B - US Customers

Class 5B covers customer claims against FTX.US, the separate American exchange entity. This class is treated at a 100% recovery of allowed amounts.

Most CIS creditors will not hold a 5B claim, because CIS residents generally used the international exchange rather than the US one. If your claim is in 5B, it means your account was with the FTX.US entity specifically.

Class 7 - the FTX Convenience Class

Class 7 is the convenience class. A convenience class is a common feature of large bankruptcy plans: it groups together smaller claims under a set dollar threshold and pays them on simplified, faster terms, so the estate is not running full distribution mechanics for a very large number of small balances.

The FTX convenience class is treated at a 120% recovery, including interest. The threshold is $50,000 or less - a claim whose adjudicated value, before interest, is $50,000 or under falls into the convenience class. The trade-off for a Class 7 holder is straightforward: a defined, relatively quick payout, at the cost of not sharing in any further upside the larger customer classes might see.

A holder with a claim above $50,000 could elect into the convenience class by capping their claim at $50,000 - accepting the $50,000 ceiling in exchange for the simplified 120% treatment. Whether that made sense depended on the individual claim.

The convenience class has subclasses by entity: 7A for Dotcom convenience claims, 7B for US convenience claims, and 7C for general convenience claims. Each carries the same convenience treatment across its claim grouping.

Why Class Drives the Offer You Get

When Qredax - or any claim buyer - prices a claim, the starting point is what the claim will recover. A buyer is purchasing the right to future distributions, so the recovery percentage of the class sets the ceiling on what the claim is worth.

A clean Class 5A claim recovers strongly and predictably, which is why it attracts the strongest offers. On the Qredax pricing tiers, a clean Class 5A claim is offered at roughly 90-95% of face value - the amount you receive, settled in USDT, today, without waiting on the remaining Trust distributions. A Class 7 claim is offered in the region of 80-85% of face value.

The gap between those ranges is not a comment on the quality of a Class 7 claim. It reflects timing and the structure of each class - how distributions are sequenced and how the recovery profile is expected to play out. For a fuller breakdown of how an offer is built, see how much an FTX claim is worth in 2026.

Class Is Not the Only Thing That Affects Price

Class sets the recovery ceiling, but two claims in the same class do not always carry the same offer. Other factors sit on top of it.

• KYC status. A claim where identity verification with Kroll has stalled is harder to transfer, and that is priced in. See why Kroll KYC fails for CIS creditors.
• Dispute status. A claim the Trust has objected to or marked disputed carries extra uncertainty, and the offer reflects that risk.
• Jurisdiction. Where the creditor is resident affects how cleanly a transfer can be completed.
• Documentation. A claim with complete, consistent records moves faster than one with gaps.

So the class tells you which recovery tier your claim sits in. The condition of the claim - KYC, disputes, paperwork - decides where inside that tier the offer lands.

Which Classes Qredax Buys

Qredax buys customer claims - primarily Class 5A, the Dotcom customer class that most CIS creditors hold, and also Class 7 convenience-class claims. Class 5B claims can be considered as well, though they are uncommon among CIS creditors.

The most useful first step is simply to send your claim number, the class shown against it in Kroll, and your jurisdiction. From those three details, Qredax can confirm whether the claim is one it buys and put a firm number against it. If you are unsure of your class, the claim number alone is enough to look it up.

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