FTX Claims Payment Processing

At Paxtibi, we speak with dozens of creditors every day, from all claim sizes and jurisdictions around the world. Especially in the past few months, with the motion toward restricted jurisdictions, a new demand from creditors has emerged. We are now making public one of the additional services we have been offering for the past year: the payment processing solution.

The payment processing solution is an alternative to selling your claim, and it is designed for creditors who are not seeking immediate liquidity through monetization (our 24-hour payment method). The typical use case is for claim holders located in restricted jurisdictions such as China, Russia, Ukraine, Saudi Arabia, Egypt, or others, who are unable to receive payment directly. These creditors are fine with waiting for the normal FTX payout schedule, the so-called “Distribution Date,” and do not want to lose any percentage through a claim sale.

This solution is not intended for small claim holders, or for claims in approved jurisdictions that have not yet been paid out due to pending KYC completion, disputes, or simply because the Bahamas process is taking longer than expected.

The claims payment processing solution is straightforward: you transfer your claim to PAXTIBI, which then enters into a legally binding obligation to seek recovery of the amount due. This includes everything necessary to remove your claim from the “restricted” jurisdiction list and to handle any legal disputes that may arise. As soon as we receive funds from FTX, we promptly send them to you.

In exchange, PAXTIBI charges a success fee on the recovered amount. This means whenever FTX makes a payment, you recover immediately your account value. If FTX does not pay, PAXTIBI earns nothing from the process. It is a win-win solution that aligns your interests with ours.

To discuss the percentage fee, please send a message to [email protected], and we will gladly assist you.

PAXTIBI is one of the best-known and most active buyers of FTX claims since the early days of the bankruptcy. With hundreds of claims purchased and millions of dollars in proprietary capital deployed, we are on the front line of every effort to recover funds. All information is publicly verifiable via the Kroll bankruptcy website (https://restructuring.ra.kroll.com/ftx/Home-DocketInfo).

Most importantly, we are FTX creditors ourselves. Both personally and as a company, we were victims of the FTX fraud. Despite becoming FTX claims buyers, the memory of November 8, 2022, is still vivid in our minds.

Technically, yes, but we strongly suggest avoiding it. First, as with life in general, mixing friendship and money can lead to unwanted outcomes. Second, drafting a contract and covering all related legal costs could make the solution less attractive. Remember that our advantage is scale: by handling many claims, we can optimize fixed administrative costs.

Third, there are tax implications. Your friend may live in a jurisdiction where distributions are taxed. Finally, the payout procedure is not as simple as for your own claim, where you can get paid directly via the FTX portal into Kraken or Bitgo. It would require additional onboarding and documentation, creating delays and extra effort—especially if your friend is unfamiliar with such procedures.

Technically, yes—or at least that is what we all heard from Judge Owens in the last hearing. However, as of this writing (14 August 2025), it is still not possible to change the residency country recorded with FTX during KYC.

1. Timing and cost. Moving KYC from a restricted country to a non-restricted one requires obtaining residency in another country, which involves sponsoring a visa and waiting weeks for approval.
2. Updating documents. These changes must be reflected in your passport or new ID documents.
3. Proof of address. You will also need a rental contract, utility bill, or other standard KYC documentation in the new country.

While this is possible, it requires significant time and expense. Many large clients opted for PAXTIBI’s Payment Processing solution back in July, as it offered a faster way to recover funds, allowing them to participate in the September distribution.

As we all know, time is money—both mathematically (is it better to have $100 now or in three months? Surely now, especially while interest rates remain high) and philosophically. But there is no universal right or wrong. The best solution is the one that makes you feel comfortable.

At PAXTIBI, we are here to help you achieve that. If you would like to discuss your options, feel free to reach out via email.