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<p>The post <a href="https://coinpedia.org/news/ftx-claim-window-confusion-major-crypto-valuations-leave-users-puzzled/">FTX Claim Window Confusion: Major Crypto Valuations Leave Users Puzzled</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The cryptocurrency community has been shaken by recent developments surrounding FTX Digital Markets Ltd., an essential entity in the FTX International Platform. Wu Blockchain’s revelation on X about the FTX claim window pricing for major cryptocurrencies, including Bitcoin and Ethereum, has added to the ongoing uncertainty.&nbsp;</p> 
<p>PwC’s official statement has also highlighted the details of FTX Digital Markets’ liquidation and its impact on users.</p> 
<h2 class="wp-block-heading" id="h-ftx-claim-window-puzzles-crypto-enthusiasts">FTX Claim Window Puzzles Crypto Enthusiasts</h2> 
<p>Wu Blockchain’s post on X highlights the ghastly situation FTX users face. The claim window pricing for significant crypto assets, such as BTC, ETH, SOL, and BNB, at values significantly different from the current market prices has baffled the community.&nbsp;</p> 
<p>The pricing, set at $16,871 for BTC, $1258 for ETH, $16.24 for SOL, and $286 for BNB, reflects a substantial gap from the current market rates.</p> 
<p>The current market rates are $$62,480 for BTC, $3,425 for ETH, $128 for SOL, and $402 for BNB.&nbsp;</p> 
<blockquote class="wp-block-quote"> 
 <p>In the words of Wu Blockchain, “FTX recently opened a claim window, and claims for major crypto assets were priced at $16,871 for BTC, $1258 for ETH, $16.24 for SOL, and $286 for BNB, which is a <a href="https://x.com/WuBlockchain/status/1763872682649800945?s=20">large gap </a>from the current price.”</p> 
</blockquote> 
<h2 class="wp-block-heading" id="h-pwc-s-official-statement">PwC’s Official Statement</h2> 
<p>PwC’s official statement on its website provides a comprehensive overview of the situation surrounding FTX Digital Markets Ltd. The main regulated and licensed entity for the FTX International Platform, FTX Digital Markets, has entered into a Chapter 11 settlement with FTX Trading Ltd. and its affiliated debtors.</p> 
<p>FTX Digital, based in The Bahamas, faced a winding-up petition by the Securities Commission of the Bahamas, leading to the appointment of Provisional Liquidators on November 10, 2022. The Commercial Division of The Supreme Court of the Bahamas appointed Joint Official Liquidators on November 10, 2023, directing them to proceed with the winding-up process.</p> 
<blockquote class="wp-block-quote"> 
 <p>PwC stated, “FTX Digital Markets Ltd. has successfully negotiated a landmark settlement with FTX Trading Ltd. and its affiliated debtors under the Chapter 11 Proceedings. This will see assets combined from the FTX Debtors and FTX Digital Markets’ estates.”</p> 
</blockquote> 
<p>In addition to the winding-up proceedings in The Bahamas, a Chapter 15 petition was filed by the Joint Provisional Liquidators in the United States Bankruptcy Court for the District of Delaware. The US Court granted an order recognizing the provisional liquidation as a foreign main proceeding on February 15, 2023.</p> 
<p>The statement clarifies that FTX Digital is not one of the certain FTX entities that filed voluntary petitions for Chapter 11 in the United States Bankruptcy Court for the District of Delaware.&nbsp;</p> 
<p>Therefore, FTX Digital is not subject to the Chapter 11 Bankruptcy Proceedings.</p> 
<h2 class="wp-block-heading" id="h-impact-on-stakeholders-and-claim-process">Impact on Stakeholders and Claim Process</h2> 
<p>FTX Digital stakeholders, including customers and employees, are urged to submit claims through the<a href="https://digitalmarketsclaim.pwc.com/"> FTX Digital Claim Portal</a>. The coordinated approach to creditor distributions ensures that FTX.com customers receive identical distributions at identical times. However, the claim window’s pricing misalignment with current market values raises concerns about the equitable treatment of stakeholders.</p> 
<blockquote class="wp-block-quote"> 
 <p>PwC emphasized, “Therefore, we encourage creditors and customers to submit a claim in our estate.”</p> 
</blockquote> 
<h4 class="wp-block-heading" id="h-in-conclusion">In conclusion</h4> 
<p>As FTX Digital Markets faces the liquidation process, the cryptocurrency community is baffled by uncertainties surrounding the claim process and the future of its digital assets. The circumstances of FTX’s Chapter 11 settlement proceedings and the winding-up proceedings have made stakeholders await further updates from the Joint Official Liquidators as the situation unfolds.</p>

FTX Claim Window Confusion: Major Crypto Valuations Leave Users Puzzled

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