Legal proceedings to compensate victims of the bankruptcy of FTX continues. The court handling the case invites creditors and customers of FTX to claim their funds before September 29, 2023. At present, the claim portal is not open yet, but it is a matter of days/weeks.
FTX customers and creditors: claim your funds before the end of September 2023
New hope for users of FTX whose funds have been frozen since last November. The court in charge of the case FTX prompted the victims of this exchange to provide proof of their claims. Former users of FTX will have to specify the nature of the assets and the amount in US dollars. The U.S. Bankruptcy Court for the District of Delaware is asking FTX’s customers and creditors to register before September 29, 2023.
Each customer will receive an email directing them to the claims portal according to the court order. The claims portal website is not yet accessible, but should be shortly, assures FTX. The opening of the portal will be communicated to users by email or via the official Twitter of FTX.
Some FTX entities are already well advanced in the process of returning FTX customers’ funds. Japanese FTX customers only had to wait a few months to recover their funds, which were frozen in November following FTX‘s bankruptcy. Since February 21, 2023, they have had easy access to their funds.
The process of returning FTX customers’ funds has also made good progress in Europe. Although European users have still not been able to access their funds like the Japanese, they have been able to submit withdrawal requests since last April.
FTX back soon?
The disastrous management of FTX by Sam Bankman-Fried was brought to light in recent days. The platform’s restructuring team has revealed major flaws in governance, finance, accounting and cybersecurity. But … FTX could rise from the ashes.
Lawyers for FTX have indicated that theexchange could resume its activities later this year. This announcement was made on April 12, 2023 at a hearing in Delaware Bankruptcy Court. FTX is doing everything in its power to make a comeback. FTX recently sold its LedgerX LLC subsidiary to Miami International Holding. In return, the platform received $50 million supporting its recovery plan.
It is interesting to note that FTX is giving itself the means to be reborn and to restore its customers’ rights. BlockFi, one of the collateral victims of FTX’s collapse, has succeeded in doing just that. FTX can do it too, and perhaps restore a little user confidence in centralized platforms.
Interestingly, FTX is giving itself the means to be reborn and to restore its customers’ rights. BlockFi, one of the companies collateral victims of FTX’s collapse, has successfully this bet. FTX can do it too, and perhaps restore a little user confidence in centralized platforms.
I dream of a world where every citizen has total control over themselves, including their finances. I believe that Bitcoin is one of the tools that will achieve this revolution. Since 2019, I am learning about this cryptocurrency and spreading the word around.
