FTX Bankruptcy Motion Aims To Establish Standard Method For Valuing Debtor Claims
Portfolio Pulse from Murtuza Merchant
A motion has been filed with the U.S. Bankruptcy Court in Delaware to establish a standard method for valuing claims in the FTX bankruptcy case, using a 'Digital Assets Conversion Table' to convert digital assets to dollar values as of Nov. 11, 2022. This is intended to facilitate the Chapter 11 process and avoid delays in the bankruptcy administration. The court has set a deadline for objections and scheduled a hearing on the matter.
December 29, 2023 | 6:21 pm
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The motion to standardize claim valuations in FTX's bankruptcy case could bring clarity to the value of FTT tokens as of the bankruptcy date, potentially influencing their perceived value.
While the motion directly pertains to the bankruptcy process and not the trading of FTT tokens, establishing a standardized valuation method could influence investor perception of the token's value. However, since the token is already under the cloud of bankruptcy, the immediate market impact may be limited.
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