# FTX: Recovery trust established under wind-down plan

FTX Trading Ltd. and debtor affiliates · Bahamas · Digital assets

Evidence reviewed Oct 26, 2026. Historical event record.

FTX’s confirmed Chapter 11 plan took effect in January 2025, placing the debtors’ assets into the FTX Recovery Trust for creditor recoveries.

## Historical private valuation

$32bn · Jan 31, 2022

FTX Trading announced a completed $400 million private Series C at a $32 billion valuation.

[FTX Trading / PR Newswire](https://www.prnewswire.com/news-releases/ftx-trading-ltd-closes-400m-series-c-round-301471084.html)

## Documented event

Recovery trust established under wind-down plan · Jan 3, 2025

No transaction price shown. A filed Recovery Trust notice confirms the plan became effective and all debtor assets vested in the trust on January 3, 2025. This records the estate’s wind-down structure, not completion of every creditor payment.

[FTX Recovery Trust / U.S. Bankruptcy Court filing](https://document.epiq11.com/document/getdocumentsbydocket/?docketId=1178576&docketNumber=32599&projectCode=FTX&source=DM)

## What changed

The original exchange’s estate is being administered through a consolidated wind-down trust. Payments on allowed claims are creditor distributions, not a valuation of a restarted exchange or a return to earlier equity investors. The historical financing reference concerns FTX Trading, rather than the separately valued FTX US affiliate.

## Timeline

### Jan 31, 2022 — Private financing completed

FTX Trading announced the Series C; its separate U.S. affiliate had its own financing and valuation.

[FTX Trading / PR Newswire](https://www.prnewswire.com/news-releases/ftx-trading-ltd-closes-400m-series-c-round-301471084.html)

### Jan 3, 2025 — Plan became effective

The FTX Recovery Trust, also described as the Consolidated Wind Down Trust, was established and received the debtors’ assets.

[FTX Recovery Trust / U.S. Bankruptcy Court filing](https://document.epiq11.com/document/getdocumentsbydocket/?docketId=1178576&docketNumber=32599&projectCode=FTX&source=DM)

## Disclosed investors

Historical funding participation; not current ownership or investor losses.

- Temasek — [FTX Trading / PR Newswire](https://www.prnewswire.com/news-releases/ftx-trading-ltd-closes-400m-series-c-round-301471084.html)

- Paradigm — [FTX Trading / PR Newswire](https://www.prnewswire.com/news-releases/ftx-trading-ltd-closes-400m-series-c-round-301471084.html)

- Ontario Teachers' Pension Plan Board — [FTX Trading / PR Newswire](https://www.prnewswire.com/news-releases/ftx-trading-ltd-closes-400m-series-c-round-301471084.html)

- NEA — [FTX Trading / PR Newswire](https://www.prnewswire.com/news-releases/ftx-trading-ltd-closes-400m-series-c-round-301471084.html)

- IVP — [FTX Trading / PR Newswire](https://www.prnewswire.com/news-releases/ftx-trading-ltd-closes-400m-series-c-round-301471084.html)

- SoftBank Vision Fund 2 — [FTX Trading / PR Newswire](https://www.prnewswire.com/news-releases/ftx-trading-ltd-closes-400m-series-c-round-301471084.html)

- Lightspeed Venture Partners — [FTX Trading / PR Newswire](https://www.prnewswire.com/news-releases/ftx-trading-ltd-closes-400m-series-c-round-301471084.html)

- Steadview Capital — [FTX Trading / PR Newswire](https://www.prnewswire.com/news-releases/ftx-trading-ltd-closes-400m-series-c-round-301471084.html)

- Tiger Global — [FTX Trading / PR Newswire](https://www.prnewswire.com/news-releases/ftx-trading-ltd-closes-400m-series-c-round-301471084.html)

- Insight Partners — [FTX Trading / PR Newswire](https://www.prnewswire.com/news-releases/ftx-trading-ltd-closes-400m-series-c-round-301471084.html)

## Sources

- [FTX Trading Ltd. Closes $400M Series C Round](https://www.prnewswire.com/news-releases/ftx-trading-ltd-closes-400m-series-c-round-301471084.html) — FTX Trading / PR Newswire; published Jan 31, 2022; accessed Oct 26, 2026; primary source.

- [FTX Recovery Trust third notice of satisfaction of claims, docket 32599](https://document.epiq11.com/document/getdocumentsbydocket/?docketId=1178576&docketNumber=32599&projectCode=FTX&source=DM) — FTX Recovery Trust / U.S. Bankruptcy Court filing; published Sep 2, 2025; accessed Oct 26, 2026; primary source.

Logo: [FTX logo source](https://ftx.com). Company trademark rights remain.

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