The bankruptcy court in Delaware in June ordered customers to file 'proofs of claim'.
The order exempts customers of FTX EU and Japan.
Fallen crypto exchange FTX EU has a new owner, but the license remains suspended.
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.
“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.
The alert message on the claims.ftx.com website.
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the bankruptcy judge’s court order exempts customers of FTX EU and FTX Japan who have already withdrawn their funds from filing the proofs of claim.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.
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.
“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.
The alert message on the claims.ftx.com website.
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.
Solomon Oladipupo is a journalist and editor from Nigeria that covers the tech, FX, fintech and cryptocurrency industries. He is a former assistant editor at AgroNigeria Magazine where he covered the agribusiness industry. Solomon holds a first-class degree in Journalism & Mass Communication from the University of Lagos where he graduated top of his class.
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- What makes their trading product stand out
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- The role of local influencers
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⚖ Balanced reporting
📞 Right of response
📰 Responsible journalism
#FinanceMagnates #FinancialJournalism #ResponsibleReporting #FinanceNews #EditorialStandards
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⚖ Balanced reporting
📞 Right of response
📰 Responsible journalism
#FinanceMagnates #FinancialJournalism #ResponsibleReporting #FinanceNews #EditorialStandards
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📰 Verified reporting
🔎 Human-led scrutiny
✅ Facts over noise
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We break down Exness’s regulatory framework, supported trading platforms including MetaTrader 4, MetaTrader 5, Exness Terminal, and the Exness Trade App, as well as available account types such as Standard, Pro, Zero, and Raw Spread.
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Watch the full review to see whether Exness aligns with your trading goals and strategy.
👉 Explore Exness’s full broker listing on the Finance Magnates Directory:
https://directory.financemagnates.com/multi-asset-brokers/exness/
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
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📸 Instagram: https://www.instagram.com/financemagnates
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🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Exness #ExnessReview #Forex #FinanceMagnates #ForexBroker #BrokerReview #CFDTrading #OnlineTrading #MarketInsights
In this video, we take an in-depth look at @Exness , a global multi-asset broker operating since 2008, known for fast withdrawals, flexible account types, and strong regulatory coverage across multiple regions.
We break down Exness’s regulatory framework, supported trading platforms including MetaTrader 4, MetaTrader 5, Exness Terminal, and the Exness Trade App, as well as available account types such as Standard, Pro, Zero, and Raw Spread.
You’ll also learn about Exness’s leverage options, fees and commissions, swap-free trading, available instruments across forex, commodities, indices, stocks, and cryptocurrencies, and what traders can expect in terms of execution, funding speed, and customer support.
Watch the full review to see whether Exness aligns with your trading goals and strategy.
👉 Explore Exness’s full broker listing on the Finance Magnates Directory:
https://directory.financemagnates.com/multi-asset-brokers/exness/
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Exness #ExnessReview #Forex #FinanceMagnates #ForexBroker #BrokerReview #CFDTrading #OnlineTrading #MarketInsights
