David Pokima Last updated: January 11, 2024 20:23 EST | 2 min read Disclosure: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. By using this website, you agree to our terms and conditions. We may utilise affiliate links within our content, and receive commission. 
Source: Adobe / Александр ПоташевA group of FTX creditors have filed a motion seeking to stop plans of the collapsed exchange from valuing their cryptocurrency assets based on 2022 prices.
FTX Creditors Urge for Updated Value Estimations Based on the Digital Assets Conversion Table
The creditors filed a motion urging the bankruptcy court to estimate claims based on virtual assets and fiat currency in line with the digital assets conversion table to ensure they receive the full value of their assets.
“By this Motion, the Debtors request entry of the Order pursuant to sections 502(c) and 105(a) of the Bankruptcy Code, substantially in the form attached hereto as Exhibit A, estimating Claims based on Digital Assets and fiat currency by approving the Digital Assets Conversion Table to value such Claims, including Customer Entitlement Claims, for purposes of any plan in these Chapter 11 Cases.”
As the bankruptcy proceeding continues, FTX administrators are looking to adopt an approach to value assets based on 2022 prices, which is when it filed for bankruptcy, and pay creditors in the fiat value.
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