FTX proposed to compensate customers' Bitcoin at a rate of $16,871 per coin, but faced opposition from creditors.

According to recent court documents, FTX is seeking court approval to compensate its customers with an estimated value of $16,871 per BTC, $1,258 per ETH, and $16 per SOL. This move has been strongly criticized by FTX creditors, who describe it as another form of theft and urge people to oppose the plan. FTX debtors argue that this valuation reflects the "fair and reasonable" prices of these cryptocurrencies. They say that this move is crucial to prevent any obstacles in the bankruptcy proceedings and add that "settling every individual claim for digital assets is impractical and unnecessary and would unnecessarily delay the Chapter 11 case." In addition, FTX estimates the compensation price for AVAX to be $14.19 per token, while stablecoins USDT, TUSD, and BUSD are a few cents lower than their $1 anchor price. FTX creditors suggest that customers who want to oppose the motion should write to the judge responsible for the bankruptcy case. Simon Dixon, CEO of BnkToTheFuture, says that FTX customers "should strongly resist this motion." Customers who disagree with the motion will have time to oppose the plan until January 11, 2024.