Attention, FTX Users! File Your Claim Before September 29th

Renowned trader Peter Brandt has taken to social media platform X to issue a crucial reminder to all former users of FTX, urging them to file their claims before the looming deadline. In a recent post, Brandt shared a notice letter from FTX, which emphasizes the urgency of the situation and provides clear instructions on how to submit claims.

We’ve broken down everything you, the investor, needs to know. Read on!

Deadline Alert!

According to the notice from FTX, the deadline for customer claims, known as the FTX Customer Claims Bar Date, is rapidly approaching – set for September 29, 2023, at 4 PM United States Eastern Time. For those who missed previous opportunities to claim their losses, this is the final chance to take action against the FTX Debtors.

Here’s how to navigate the claim process:

To initiate the claims process, users must first log in to the FTX Claims Portal. FTX Debtors have requested Know Your Customer (KYC) information, including customer claims for former consumers. While the submission of KYC information is strongly recommended, it’s important to note that it is not mandatory to submit a claim.

For those concerned about KYC, the review and verification process will continue even after the Bar Date. However, it’s essential to remember that all claims must be made in U.S. Dollars, and you must specify your preferred compensation asset, whether it’s cryptocurrency, NFTs, or fiat currencies.

For more details and intimidations, claimants must visit the FTX Support Page. 

What’s Happening With FTX and Bankman-Fried?

In another important development, the SBF Trial made headlines as the Appeals Court rejected Sam Bankman-Fried’s plea for bail. The trial court judge first rejected his plea for bail with reasonable suspicion that he might tamper with the evidence. Just recently, the Appeals Court Judge upheld this decision.

FTX has been battling to recover billions of dollars in forfeited funds. Notably, FTX has also filed lawsuits against Sam Bankman-Fried’s parents, Allan Joseph Bankman and Barbara Fried, alleging the “fraudulent transfer and misappropriation of funds” and seeking compensation for luxury residences.

How did Salameda Enter the Picture?

Yesterday, FTX filed a lawsuit against ex-employees of Salameda, namely Kevin Nguyen, Darren Wong, Michael Burgess, and Matthew Burgess. The lawsuit seeks $157.3 million in damages from the former Hong Kong-based affiliate. Salameda has come under the spotlight due to its ties with disgraced Bankman-Fried.

Read for more information: FTX Sues Ex-Salameda Employees for $157.3 Million!

Going a step further, FTX is also attempting to recover cash from Genesis Global Capital.

What’s your take on this?