Liquidators of the bankrupt exchange FTX will start compensating claims of $50,000 and above beginning May 30, Bloomberg reports, citing company lawyers.

According to FTX attorney Andrew Dietderich, the funds for the payouts will come from the $11.4 billion accumulated since the bankruptcy.

The distribution process “will take time.” The lawyer noted that the company has received “27 quadrillion” claims for compensation, many of which require additional verification, while “billions” are outright fraudulent.

Customers awaiting payments are accruing an additional 9% annual interest on their eligible deposits. According to Bloomberg, FTX’s account interest rate is lower, so the firm is eager to resolve the compensation issue as quickly as possible.

In February 2025, the exchange allocated $1.2 billion to compensate users with assets up to $50,000.

In March, liquidators of the cryptocurrency hedge fund Three Arrows Capital increased their claims against FTX from $120 million to $1.53 billion.