FTX has started official liquidation and will compensate customers for Bitcoin at a price of US$16,871

BlockBeats news, on March 3, according to official information, the joint official liquidators ("JOL") of FTX Digital Markets Ltd (in formal liquidation) ("FTX Digital") have notified customer and non-customer creditors through the FTX Digital claims portal Proofs of claims have been filed in the liquidation of FTX Digital, and the Joint Official Liquidators have launched the FTX Digital Claims Portal, where eligible customer and non-customer creditors have submitted claims in the liquidation of FTX Digital, where users can view their balances in their FTX accounts ( according to the records of the Joint Official Liquidators) and submit electronic claims in the liquidation of FTX Digital (the "Bahamas Proceedings"). Only customer and non-customer creditors who file electronic claims before the prescribed deadline of May 15, 2024 (the "Claims Deadline") will be eligible for distribution in the Bahamas Proceedings (provided that the claim is admitted as eligible for distribution ). The FTX digital claims portal is managed by PwC on behalf of the joint formal liquidators, with the first interim distribution expected to be paid in late 2024 or early 2025. The Joint Official Liquidators will provide further information regarding the distribution in due course. According to PwC’s official website, under Bahamian law, there is an obligation to allocate each qualifying claim, regardless of size, to U.S. dollars. Claims against major crypto assets on FTX are currently priced at $16,871 for BTC, $1258 for ETH, $16.24 for SOL, and $286 for BNB. BlockBeats previously reported that on December 29, 2023, FTX debtors had previously encountered opposition from creditors in seeking to compensate users at the lowest price. The FTX debtors argued that the valuation reflected a "fair and reasonable" price for the cryptocurrencies.