The FTX Recovery Trust is set to distribute approximately $900 million to creditors on July 31, 2026, as part of a series of payouts that have exceeded initial expectations. FTX officially emerged from Chapter 11 bankruptcy on January 3, 2025, with recoverable assets valued between $14 billion and $16 billion, offering many non-governmental creditors recoveries above 100 percent. The CLARITY Act (Digital Asset Market Clarity Act), updated and filed in the Senate on July 22, 2026, aims to establish custody rules, disclosure requirements, and clarify jurisdiction between the SEC and CFTC. FTX’s collapse simultaneously exposed every gap in the existing regulatory framework, including commingled customer funds, opaque corporate structures, and a lack of meaningful disclosure requirements. The exceptional asset recovery by the FTX estate demonstrates that the money was recoverable, but the guardrails needed to protect it in the first place were simply absent.
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