FTX liquidators have launched the claims portal for collectors of the bankrupt crypto alternate utilizing costs from the 2022 bear market.
Pricewaterhouse Cooper (PwC) says collectors should register and submit the mandatory paperwork on the FTX Digital Claim Portal earlier than Could fifteenth, the claim bar date.
The Huge 4 accounting agency says two elements will decide the quantity that former FTX clients can get.
“Particular person buyer recoveries will depend on the belongings positioned by each the JOLs (joint official liquidators) and the Chapter 11 debtors, in addition to the whole claims acquired from clients.
The declare worth may even be primarily based on near-bottom crypto prices on the time of FTX’s collapse in November 2022.
“The shopper declare values set out within the FTX Digital Declare Portal are primarily based on a worth reference date of 11 November 2022 at 10:00 am ET / 3:00pm UTC in accordance with an order made by the Supreme Courtroom of the Bahamas dated 22 January 2024. The valuation charges are primarily based on the digital belongings conversion desk adopted by the Chapter 11 course of as sanctioned by the US Chapter Courtroom.”
Claims for Bitcoin (BTC) are at $16,871, greater than 74% under its present market worth. Ethereum (ETH) claims are set at $1,258, 64% under its present market worth whereas claims for Solana (SOL) are set at $16.24, 87% lower than the value of SOL as we speak, in accordance with blockchain reporter Colin Wu.
FTX went bankrupt in late 2022 after mismanaging billions in buyer funds. Its former CEO, Sam Bankmam-Fried, is presently sitting within the Metropolitan Detention Middle in Brooklyn awaiting sentencing for fraud costs.
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