2024

April

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The FTX Customer Ad-Hoc Committee has over 1,400 signups and $700,000 in claims.&nbsp;
The committee is also preparing to distribute more information to guide members through the bankruptcy plan vote. The additional information will include strategic advice and detailed instructions to assist claimants in making informed decisions and taking concerted action to protect their rights.
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 FTX Customer Ad Hoc We are the largest voting bloc with 1415 claims and $700m claim value All sign ups should have received an email Please respond, interact and offer assistance if able <a href="https://t.co/inLSufijZX" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/inLSufijZX</a>— Sunil (FTX Creditor Champion) (@sunil_trades) <a href="https://twitter.com/sunil_trades/status/1775439837656469511?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">April 3, 2024</a>
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You might also like: <a href="https://crypto.news/sam-bankman-fried-i-never-intended-to-hurt-anyone/" rel="noopener noreferrer nofollow"> Sam Bankman-Fried: ‘I never intended to hurt anyone’ </a>
The FTX Customer Ad-Hoc Committee (<a href="https://ftxvote.com/" target="_blank" rel="noopener noreferrer nofollow">CAHC</a>) represents a group of former FTX <a href="https://twitter.com/sunil_trades/status/1775439837656469511" target="_blank" rel="noopener noreferrer nofollow">customers</a> holding claims in the nine-figure range. This committee has become the largest voting block in the FTX bankruptcy cases, aiming to address significant issues impacting the recovery of customer property.&nbsp;
The committee’s efforts include opposing plans that do not prioritize customer interests, such as ensuring customers recover the current valuation of their crypto assets due to theft, avoiding unnecessary taxes for non-U.S. customers, and advocating for digital distributions of recoveries instead of checks, which could delay and reduce recoveries.
Last week, <a href="https://crypto.news/sam-bankman-fried-sentenced-25-years-ftx/" rel="noopener noreferrer nofollow">Sam Bankman-Fried</a>, the former CEO and founder of FTX, was sentenced to 25 years in prison. However, the FTX saga is far from over, with recent controversies surrounding Sullivan &amp; Cromwell, a law firm deeply intertwined with FTX’s operations.&nbsp;
<a href="https://crypto.news/lawsuit-targets-sullivan-cromwell-allege-ftx-collusion/" rel="noopener noreferrer nofollow">Sullivan &amp; Cromwell</a> has come under intense scrutiny and legal challenge from FTX customers and investors, who allege that it played a significant role in enabling the environment that led to FTX’s collapse. Accusations range from conflict of interest to aiding and abetting the fraudulent activities that ultimately doomed the exchange.&nbsp;
Read more: <a href="https://crypto.news/sam-bankman-fried-inspired-meme-coin-1-cent-crashes/" rel="noopener noreferrer nofollow"> Sam Bankman-Fried inspired meme coin crashed 90% after reaching 1 cent </a>

FTX ad-hoc grows to $700k in claims as community prepares for bankruptcy vote

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