FTX debtors will assess values of crypto claims based on petition date market prices

The debtors of the now-defunct cryptocurrency exchange FTX have filed the amended Chapter 11 plan of reorganization which indicates the value of customer asset claims will be retroactively set to the time when the exchange collapsed in November 2022. 

In a recent court filing in the United States Bankruptcy Court for the District of Delaware the debtors outlined that “customer entitlement claim” refers to any claim, regardless of type of nature, against the exchange aimed at compensating the holder based on the value as of the petition date.

FTX Debtors have filed the reorg. Plan

Most importantly they have ignored FTX TOS that states Digital Assets are the property of Users and not FTX…

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