Users of FTX Must File Claims by September 29th.

News Desk5
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Peter Brandt took to X to urge all former users of FTX who had not filed their claim yet to do so as soon as possible before the last date. He shared in his post a notice letter from FTX that explicitly talks about the urgent reminder to file claims and the process to do so. 

What Does The Notice Say?

Per the FTX notice, the FTX Customer Claims Bar Date is 29th September 2023, till 4 PM United States Eastern Time. Former customers who missed the previous chances to claim their losses mustn’t miss this last opportunity to file their Customer Claims against the FTX Debtors. 

The first step to begin the claiming process is logging into the FTX Claims Portal. As the FTX Debtors have requested the KYC information, including customer claims for former consumers, it is thereby requested that the former customers begin their submission of KYC details. However, it is to be noted that submission of KYC is ‘requested’; it is NOT mandatory to submit a claim. 

The plaintiffs also need not worry as KYC’s review and verification process will continue even after the Bar Date. However, it is to be kept in mind that all claims must be made in U.S. Dollars, and the preferred compensation asset must also be specified, like – cryptocurrency, NFTs, or fiat currencies. 

For more details and intimidations, claimants must visit the FTX Support Page. 

The Current Scenario of FTX – 

The SBF Trial touched headlines as the Appeals Court rejected Sam Bankman-Fried’s plea for bail. The trial court judge first rejected his plea for bail with reasonable suspicion that he might tamper with the evidence. A couple of days back, the Appeals Court Judge upheld this decision. 

FTX has been battling to recover billions of dollars in forfeited funds. FTX also sues Sam Bankman-Fried’s parents, Allan Joseph Bankman and Barbara Fried, for compensation for luxury residences and allegedly “fraudulently transferred and misappropriated funds.”

Update: FTX v. Salameda 

Just yesterday, FTX filed a lawsuit against former employees of Salameda, a former Hong Kong-based affiliate. The lawsuit seeks $157.3 million from Salameda in damages. Salameda, related to the disgraced Sam Bankman-Fried, is tightly tied to FTX and its numerous sectors, including charity and life sciences. Furthermore, the exchange is attempting to recover cash from Genesis Global Capital.

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