FTX has opened a claim window, with claims for major crypto assets such as Bitcoin (BTC), Ether (ETH), Solana (SOL) and BNB (BNB) being priced significantly lower than current market values.
Wu Blockchain’s findings show that the FTX claim window pricing set stands at $16,871 for BTC, $1,258 for ETH, $16.24 for SOL and $286 for BNB, well below current market prices, which stand at $62,144 for BTC, $3,424.62 for ETH, $129.96 for SOL, and $411.32 for BNB.
Cryptocurrency users whose assets were affected by FTX’s bankruptcy are concerned by the pricing difference on FTX, questioning the platform’s fairness and transparency. Many took to X to express their concerns, seeking accountability from FTX.
Amid criticism, PricewaterhouseCoopers (PwC) issued an official statement on its website, offering insights into the situation surrounding FTX. The firm disclosed that FTX Digital Markets is going through a Chapter 11 settlement with FTX Trading and its affiliated debtors, aiming to combine assets from both entities’ estates.
FTX’s official liquidator notified creditors to submit electronic claims by May 15, 2024. The PwC-managed claims portal is expected to make its first interim distribution in late 2024 or early 2025, with all eligible claims denominated in United States dollars.
FTX recently issued a cautionary statement regarding its authorized investment manager. FTX noted that certain unauthorized third parties have begun attempting to bid on behalf of specific FTX Debtors, prompting the firm to take preemptive measures.
Related: SBF sentencing: Letters highlight efforts to recover FTX funds
In its inaugural monthly communication to stakeholders, FTX took to the X platform to inform creditors that the sale of Digital Assets by FTX Debtors mandated by a bankruptcy court order falls exclusively under the jurisdiction of Galaxy Asset Management, the court-appointed investment manager.
As a result, only Galaxy Asset Management is authorized to handle any selling offers or buying requests. The bankrupt exchange advised interested parties, especially institutional buyers and those complying with regulations, to follow this guidance.
FTX obtained approval from the United States Bankruptcy Court for the District of Delaware in a Feb. 22 hearing to sell its stake of over $1 billion in the artificial intelligence firm Anthropic.
Magazine: Can you trust crypto exchanges after the collapse of FTX?