FTX Clients Ask Court to Overturn Unfair Compensation Plan
Customers of bankrupt cryptocurrency exchange FTX have asked a US bankruptcy court to block its proposed plan to calculate the value of crypto assets based on November 2022 prices.
Over the past week, several dozen clients of the cryptocurrency exchange from around the world wrote letters to the court of the US state of Delaware, where FTX filed for Chapter 11 of the US Code of bankruptcy. They claim that the cryptocurrency exchange is preventing them from benefiting from rising cryptocurrency prices.
Last year, FTX unveiled a plan that calculated the value of creditors' claims based on asset prices at the time of the exchange's bankruptcy in November 2022. According to representatives of the miserably failed company, this does not contradict US bankruptcy laws.
