Cryptocurrency markets were severely impacted by the FTX collapse, yet the effects seem to have been erased. However, FTX creditors have not been able to collect their balances. Moreover, the repayment strategy planned by the bankruptcy committee is causing controversy. Today, the bankruptcy committee made a new announcement pointing to an unspecified problem.
FTX Bankruptcy Committee Statement
FTX creditors have been angered by the committee’s plan to make payments in fiat currency based on the collapse prices of November 2022. Particularly, investors with exponentially increased altcoin balances are rebelling against repayments at the lowest prices of bear markets after waiting for over a year.
Today, an announcement was made that suggests other companies or individuals are also collecting offers for FTX assets.
“The sale of Digital Assets by FTX Debtors is exclusively conducted by the Investment Manager, Galaxy Asset Management (GDAM@galaxy.om), authorized by the court under the Bankruptcy Court Order No. 2505.
Some unauthorized third parties are attempting to solicit offers on behalf of FTX Debtors.
Any sales offer or purchase request will only be made by Galaxy Asset Management to corporate buyers or relevant parties in compliance with applicable laws.
Furthermore, in the event that the locked digital assets of FTX Debtors are sold, the terms and conditions governing the unlocking program for these assets will not change.”
