Former FTX Customers Complain About Losing Out on Rise in Crypto Under Bankruptcy Plan

Customers push judge to change how digital assets are valued
Plan would convert crypto to dollars, set price at 2022 level

More than 80 individual customers have filed letters attacking a plan to peg the value of their digital assets to the date FTX filed bankruptcy. — More than 80 individual customers have filed letters attacking a plan to peg the value of their digital assets to the date FTX filed bankruptcy.
Photographer: Lanna Apisukh/Bloomberg

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By Steven Church

January 11, 2024 at 2:21 PM UTC

Updated on

January 11, 2024 at 4:36 PM UTC

This article is for subscribers only.

Some former customers of the bankrupt crypto firm FTX Trading Ltd. are pushing a US judge to change how they will be repaid, arguing that proposed rules unfairly leave them out of a yearlong rise in the price of Bitcoin and other digital currencies.

More than 80 individual customers have filed letters attacking a plan to peg the value of their digital assets to the date FTX filed bankruptcy — Nov. 11, 2022 — and pay claims in US dollars instead of returning the crypto coins.