Today in crypto, the FTX Recovery Trust will release $1.6B to creditors in a September payout, the European Union is set to include crypto platforms in its latest sanctions against Russia, and the first US Dogecoin and XRP ETFs have far outpaced analyst expectations.
FTX Recovery Trust to unlock $1.6B for creditors in September disbursement
The FTX Recovery Trust, the entity overseeing the distribution of funds from the bankrupt crypto exchange, announced a third tranche of distributions to creditors, worth about $1.6 billion.
According to a Friday announcement, the distribution is scheduled for Sept. 30, and creditors should receive the funds in their accounts within three business days of the payment date.
The third distribution includes a 6% payout for Dotcom Customer claims, a 40% distribution for US Customer Entitlement Claims and a 24% distribution for General Unsecured Claims and Digital Asset Loan Claims. Convenience claims will receive a 120% reimbursement as part of September’s payout.
FTX’s Recovery Trust began reimbursing creditors in February with a $1.2 billion payout, and followed it up with a $5 billion distribution in May. The trust has up to $16.5 billion in assets earmarked for its creditors and former customers.
EU targets crypto platforms in latest Russia sanctions package
The European Union will include cryptocurrency platforms in its latest financial sanctions against Russia, marking the first time digital asset services have been directly targeted.
The measures, part of the bloc’s 19th sanctions package, prohibit all cryptocurrency transactions for Russian residents and restrict dealings with foreign banks tied to Russia’s alternative payment systems, according to a statement by European Commission President Ursula von der Leyen published Friday.
The package also seeks to block transactions with entities operating in Russian special economic zones.
“As evasion tactics grow more sophisticated, our sanctions will adapt to stay ahead,” von der Leyen said. “Therefore, for the first time, our restrictive measures will hit crypto platforms. and prohibit transactions in cryptocurrencies.”
She added, “We are listing foreign banks connected to Russian alternative payment service systems. And we are restricting transactions with entities in special economic zones.”
The sanctions are not yet final and require approval from all 27 EU member states.
Rex-Osprey’s XRP, DOGE ETFs “no slouch” on debut with $54 million volume
Investors piled into the first US-based Dogecoin (DOGE) and XRP (XRP) exchange-traded funds on their debut trading day on Thursday, with Bloomberg ETF analyst Eric Balchunas saying the new crypto funds were “no slouch,” together seeing $54.7 million in trades over the day, while most new ETFs see around $1 million.
REX Shares and Osprey Funds jointly issued REX-Osprey XRP ETF (XRPR) saw $37.7 million in volume on the day, while their REX-Osprey DOGE ETF (DOJE) finished with $17 million in volume traded.
Both were early gainers with millions traded in their first hours on the market. Balchunas said XRPR had the “biggest day one” volume “of any 2025 launch,” while DOJE was “shockingly solid” early on.
He added the volumes were a “good sign for the onslaught” of crypto-related ETFs that are awaiting regulatory approval to launch, as asset managers have lined up to create ETFs from speculative altcoins or novel services like crypto staking.
