Jul 06, 2023 05:05
The
bankrupt cryptocurrency exchange, FTX, has said it will launch a portal “in the
coming weeks” for customers owed by the global crypto trading platform, FTX.com
and its affiliates to state their claims. The exchange stated this on a
website, claims.ftx.com, where the portal will be hosted.
FTX Plans
to Repay Customers
On June
28th, John Dorsey of the bankruptcy court in the District of Delaware, United States, ordered that customers of the exchange and
its affiliated entities including its sister trading firm, Alameda Research, submit
their ‘proofs of claim’ on or before 4 pm EST on September 29, 2023.
These
customers include individuals, corporations, joint ventures and trusts, among
others, who were owed funds in the form of fiat currency, cryptocurrency or other forms of assets before
FTX filed for bankruptcy protection in November.
The order
follows a customer bar date motion filed by FTX and its affiliates on June 14,
2023, requesting the court to permit the deadline for customers to file the
proofs of claim. The bankrupt exchange also sought the court's permission for the method it intended to employ to obtain the claims.
Following
the approval of the order, FTX announced on Twitter that it is working to finalize claims through the portal, the claims.ftx.com website. A message on the website further informs customers they will be
updated with the information once available.
The FTX Debtors’ “Customer Bar Date” has been set for September 29, 2023 at 4 PM ET. To streamline the process for customers, the FTX Debtors are finalizing an online claims portal at https://t.co/DkYi2hDLbI. FTX Debtors will announce when the portal is active.
— FTX (@FTX_Official)
June 28, 2023“This site
will serve as the Debtors’ Customer Claims Portal which will be launched in the
coming weeks as a result of recent amendments to the filed schedules. Customers
will be notified through email and the official FTX Twitter account when the
portal is open,” a message on the website reads.
FTX EU and FTX Japan Are Exempt
Meanwhile,
the bankruptcy judge’s court order exempts customers of FTX EU and FTX Japan who have already withdrawn their funds from filing the proofs of claim. On top of that, the
order prohibits customers from filing their claims against any of the
Founders of FTX and its subsidiaries, including Sam
Bankman-Fried, the Founder and
former CEO who is facing
charges from US prosecutors.
This is even as FTX EU, whose license has been
temporarily suspended by the Cyprus Securities and
Exchange Commission, recently launched a new website for its customers to request
balance withdrawals, Finance Magnates reported. Earlier in
the year, FTX Japan’s users withdrew $50 million within a day after the balance
withdrawal process resumed.
Bankman-Fried’s
crypto empire crumbled in November, which was triggered by a bank run
following the revelation that the now-bankrupt FTX.com was using its customers’
assets to prop up Alameda Research.
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This article was written by Solomon Oladipupo at www.financemagnates.com.
World Crypto Global
