FTX bankruptcy victims seek court ruling that $8 billion in assets belong to customers, not bankruptcy estate

ChainCatcher message, according to documents submitted to the U.S. District Court for the Southern District of New York on Friday, FTX bankruptcy victims are seeking a ruling that the seized assets of the collapsed cryptocurrency exchange (approximately $8 billion) belong to its customers, not the bankruptcy estate. Last month, the FTX bankruptcy management proposed a new reorganization plan that would allow 98% of creditors to recover 118% of their claims in cash within 60 days after court approval. However, the plan has left many FTX customers feeling that they missed the opportunity to profit from the rise in cryptocurrency prices.