Two years after the FTX cryptocurrency exchange filed for bankruptcy, the team led by John J. Ray III has finally announced that it is about to complete the final Chapter 11 reorganization plan, with the distribution of proceeds expected to begin in early 2025. 98% of FTX creditors will receive approximately 119% of their allowed claim amounts within 60 days of the plan becoming effective. FTX Digital Markets, Ltd. (Bahamas) has recently issued a tax information submission notice, and users must complete this stage to proceed to the next stage of the claims process.
Please note: This process is limited to customers who originally chose to claim with FTX Digital Markets in the Bahamas. If you are participating in the U.S. claims process, please disregard this content.
Enter the claims website: https://digitalmarketsclaim.pwc.com/
What you need to do this time is the tax-related process, please click on Proceed under Tax Details.
The main purpose is to confirm whether you need to declare U.S. tax residency.
Click nationality again.
Confirm that it is not related to FATCA.
Check to confirm the following statement.
The system will automatically generate the IRS W-8BEN form, which is primarily used to certify your status as a non-U.S. tax resident and ensure that the income you receive in the U.S. is subject to the tax treatment applicable to non-U.S. residents. Finally, after confirming that the information is correct, you can sign and submit it. Then wait for the next step in the claims application notification.
This article is a notice to FTX Digital Markets customers! Please complete the relevant tax forms. First appeared in Chain News ABMedia.