FTX Liquidating Trust Challenged $53 Million Claim
The FTX estate filed a motion to disallow creditor claims from SkyBridge Capital following previous payments.
Updated on Sept. 21, 2026 in Investing
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The FTX liquidating trust has asked the US Bankruptcy Court for the District of Delaware to disallow $53 million in claims filed by SkyBridge Capital. The trust contends that the firm is not entitled to recover these funds because it already received a significant windfall from the exchange.
Why it matters
This legal filing highlights the complex process of unwinding the defunct cryptocurrency platform, as the estate seeks to protect remaining assets by challenging claims it deems unrecoverable. The motion argues that previous deal-related payments to SkyBridge Capital offset any potential losses from the firm's collapse.
The FTX liquidating trust filed to block $53 million in claims, asserting that SkyBridge Capital previously received an $80 million payment from an FTX-related deal. The court must now determine if these prior funds negate the current demand for additional recovery.
The players
FTX
A former cryptocurrency platform and exchange that failed, triggering a massive bankruptcy proceeding for its creditors.
SkyBridge Capital
An investment firm that previously entered into a membership interest deal with the now-defunct exchange.
Sam Bankman-Fried
The former leader of FTX who oversaw the acquisition deal for a stake in SkyBridge Capital.
The details
In September 2022, former FTX leader Sam Bankman-Fried agreed to acquire a 30% membership interest in SkyBridge Capital, a deal that eventually resulted in an $80 million payment to the firm. Following the platform's collapse in November 2022, the liquidating trust argued that this prior payout exceeded the value of any legitimate losses. The current motion aims to prevent the payout of these contested millions from the pool of assets available to other creditors.
Timeline
September 2022: Sam Bankman-Fried agreed to acquire 30% of SkyBridge Capital.
November 2022: The cryptocurrency platform FTX collapsed.
Money Landscape
This development follows a pattern set by the broader FTX bankruptcy proceedings as the liquidating trust reviews and contests creditor claims to maximize potential asset distribution. It marks a significant effort to reconcile past deal-related payments against current demands in the ongoing insolvency process.
For individual investors monitoring bankruptcy cases, this motion serves as a reminder that the recovery process for creditors is often lengthy and litigious. Any household with exposure to similar institutional insolvencies should consult with a qualified financial or tax professional regarding potential tax implications of lost assets.
The takeaway
The FTX liquidating trust is aggressively challenging claims it views as already settled by previous deal payouts to protect the remaining pool for creditors. Investors should keep a close watch on major bankruptcy court dockets if they are tracking the recovery of funds from failed institutions.
Further reading
Learn more about the latest developments in the Investing sector regarding high-profile bankruptcy cases.
Source note: This article includes information reported by Bloomberglaw.
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