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FTX has launched a website for filing claims
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FTX has launched a website for filing claims

Mar 3, 2024

The cryptocurrency exchange FTX has launched a specialized website for clients to file complaints. This move allows users to express their demands, which will be evaluated in US dollars. However, it is worth noting that the prices listed on the site for crypto assets significantly differ from their current market values. For instance, the price of Bitcoin (BTC) was set at $16,871, Ethereum (ETH) at $1,258, Solana (SOL) at $16.24, and Binance Coin (BNB) at $286. These figures are noticeably lower than current market quotations, raising questions among market participants.

The deadline for filing complaints is May 15, 2024, after which the first interim distribution of funds to creditors is expected. This process will be managed by PwC and is anticipated to commence in late 2024 or early 2025. It is important to note that all claims will be accepted exclusively in dollar equivalents.

This step by FTX is part of the bankruptcy procedure, where the exchange aims to ensure a fair and reasonable assessment of its users' claims based on market prices as of November 11, 2022. Previously, in July 2023, FTX began accepting compensation claims, underscoring its intentions to compensate its clients' losses within existing legal procedures.

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