TechFlow news: FTX plans to repay customers in dollars based on cryptocurrency prices from November 2022 as part of its bankruptcy plan, but customers argue this undervalues the actual worth of their digital assets.
The Official Committee of Unsecured Creditors supports the motion to base claims estimation on digital assets, viewing it as the most efficient way to streamline claims coordination and accelerate confirmation of the Chapter 11 bankruptcy case.
FTX stated that using cryptocurrency prices from the petition date is the only feasible method to initiate customer repayments, noting that other bankrupt crypto firms have also been permitted to use this approach.
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