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Several FTX clients have requested a U.S. bankruptcy judge prevent the defunct crypto exchange from valuing their cryptocurrency deposits based on 2022 prices. They argue that FTX’s approach is hindering them from capitalizing on the recent rise in crypto prices.
The motion by the Debtors states: “If the court determines that cryptocurrency deposits are not property of the estate then such cryptocurrency (which has appreciated more than $5 billion since the petition date) must be returned to customers in kind and may not be used to pay, among other things, administrative claims.”
https://cointelegraph.com/news/ftx-creditors-in-kind-crypto-repayments-low-prices
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