The bankruptcy court in Delaware in June ordered customers to file 'proofs of claim'.
The order exempts customers of FTX EU and Japan.
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.
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the bankruptcy judge’s court order exempts customers of FTX EU and FTX Japan who have already withdrawn their funds from filing the proofs of claim.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.
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.
Crypto Regulations Are Imminent, but Will the Regulators Align?
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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