FTX liquidators have launched the claims portal for collectors of the bankrupt crypto trade 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 Might fifteenth, the claim bar date.
The Massive 4 accounting agency says two elements will decide the quantity that former FTX clients can get.
“Particular person buyer recoveries will rely upon the belongings situated by each the JOLs (joint official liquidators) and the Chapter 11 debtors, in addition to the whole claims obtained from clients.
The declare worth will even be based mostly 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 based mostly on a price reference date of 11 November 2022 at 10:00 am ET / 3:00pm UTC in accordance with an order made by the Supreme Court docket of the Bahamas dated 22 January 2024. The valuation charges are based mostly on the digital belongings conversion desk adopted by the Chapter 11 course of as sanctioned by the US Chapter Court docket.”
Claims for Bitcoin (BTC) are at $16,871, greater than 74% beneath its present market worth. Ethereum (ETH) claims are set at $1,258, 64% beneath its present market worth whereas claims for Solana (SOL) are set at $16.24, 87% lower than the worth 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 at present sitting within the Metropolitan Detention Heart in Brooklyn awaiting sentencing for fraud expenses.
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