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

On March 3rd, it was announced that the joint official liquidators (JOL) of FTX Digital Markets Ltd (in official liquidation) (FTX Digital) have informed customers and non-customer creditors to submit claims in the FTX Digital liquidation through the FTX Digital claims portal. The joint official liquidators have activated the FTX Digital claims portal and eligible customers and non-customer creditors can submit claims in the FTX Digital liquidation, view their balances in their FTX accounts (as per the records of the joint official liquidators), and submit electronic claims in the Bahamian process. Only customers and non-customer creditors who submit electronic claims before the prescribed deadline of May 15, 2024 (the claims deadline) will be eligible for distribution in the Bahamian process (provided that the claim is recognized as eligible for distribution).

The FTX Digital claims portal for digital claims is managed by PwC on behalf of the joint official liquidators and the first interim distribution is expected to be paid by late 2024 or early 2025. The joint official liquidators will provide further information on distribution in due course. Under Bahamian law, PwC has an obligation to distribute each eligible claim in USD, regardless of its size. Currently, the pricing for claims on major crypto assets on FTX is BTC 16,871 USD, ETH 1258 USD, SOL 16.24 USD, and BNB 286 USD.

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