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Legendary Trader Peter Brandt Alerts FTX Users of This Crucial Date: Details

source-logo  u.today 22 September 2023 17:45, UTC

Veteran trader Peter Brandt has alerted former FTX users to a crucial deadline as new developments unfold in the bankruptcy case of the embattled crypto exchange.

Brandt draws attention to the upcoming deadline of the FTX customers' claims bar date of Sept. 29, 2023, at 4:00 p.m. United States Eastern Time.

FTX Proof of Claims Deadline upcoming pic.twitter.com/QwhZPZKfaO

— Peter Brandt (@PeterLBrandt) September 22, 2023

Per the document Brandt posted, the bar date is the deadline to file proof of claims against FTX debtors, in this case, the FTX bankruptcy estate, on account of customers.

Customers can start the claim procedure by logging onto the customer claims portal, bearing in mind that the deadline for filing claims is Sept. 29. This deadline affects former users of the cryptocurrency exchange FTX, the trading firm Alameda Research and dozens of connected businesses.

Each claim against the exchange must be made in U.S. dollars and include the claimant's choice of asset (cryptocurrency, fiat or NFT).

FTX recent developments

The new leadership team of FTX has been working for months to piece together the missing assets worth billions of dollars that belong to the digital asset exchange.

In the most recent development, bankrupt cryptocurrency exchange FTX has filed a lawsuit against former Salameda workers to recover around $157.3 million, according to a late Thursday court filing. Salameda is a Hong Kong-incorporated company affiliated with FTX and claimed to be run by the disgraced FTX CEO, Sam Bankman-Fried.

The FTX bankruptcy estate attempted to recoup payments from linked parties previously - Bankman-Fried and his executives, as well as FTX's charity and life science divisions. Additionally, it is attempting to recover funds paid to Genesis Global Capital.

The bankrupt crypto exchange FTX is also attempting to claw back luxury property and "millions of dollars in fraudulently transferred and misappropriated funds" from Sam Bankman-Fried's parents, Allan Joseph Bankman and Barbara Fried.