- FTX customers have asked Judge John Dorsey to oppose the exchange’s valuation plans.
- The plan values crypto assets as of November 2022, the rock bottom of the bear market.
- FTX said the plan is the most feasible way to move forward and repay customers.
Customers of the troubled cryptocurrency exchange FTX have asked a US Bankruptcy Judge to stop the exchange’s proposed plan to value crypto assets using November 2022 prices, Reuters reported.
Over the past week, dozens of the crypto exchange’s customers from around the world have written letters to Judge John Dorsey in Delaware, who is overseeing FTX’s Chapter 11 proceedings. The customers argue that the crypto exchange is preventing customers from benefiting from a rebound in crypto prices.
Last year, FTX disclosed a valuation plan that valued crypto assets as of the time it went bankrupt in November 2022. According to the defunct exchange, the valuation plan aligns with US bankruptcy laws.
However, crypto prices have rebounded significantly since they bottomed out in November 2022. Bitcoin’s price has climbed to over $46,000 from $16,871.63, and Solana’s price has risen to around $98 from $…
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