FTX offers payments for lost bitcoin, ethereum 80% below current prices

  • FTX has initiated a claim window, offering compensation for major crypto assets like bitcoin, ethereum, solana, and binance coin at prices significantly lower than their current market values.
  • This pricing discrepancy on FTX has triggered worries among cryptocurrency users who were impacted by FTX’s insolvency, raising questions about the fairness and openness of the exchange.

Cryptocurrency users who had their funds impacted by FTX’s insolvency expressed their worries and demanded an explanation from FTX on X after FTX’s claim window.

FTX’s pricing discrepancy

FTX has commenced a claim window, offering compensation for major crypto assets like bitcoin, ether, solana, and BNB at prices sometimes 80% lower than their present market values.

The FTX claim window pricing set, according to Wu Blockchain’s research, is $16,871 for BTC, $1,258 for ETH, $16.24 for SOL, and $286 for BNB. These prices are much lower than the current market values, which are $62,144 for BTC, $3,424.62 for ETH, $129.96 for SOL, and $411.32 for BNB.

The pricing discrepancy on FTX worries cryptocurrency users whose investments were impacted by FTX’s bankruptcy, raising concerns about the fairness and openness of the platform. Many people expressed their worries on X.

Also read: FTX authorised to liquidate assets, selling Anthropic shares

FTX warns of unauthorised bidding

Recently, FTX sent a warning about its approved investment manager. FTX announced that it has taken preventative action after discovering that some unapproved third parties are making attempts to bid on behalf of particular FTX Debtors.

FTX said on the X platform that Galaxy Asset Management, the court-appointed investment manager, is the only entity authorised to handle the sale of Digital Assets by FTX Debtors as required by a bankruptcy court order.

Consequently, any requests for purchases or sales may only be handled by Galaxy Asset Management. The insolvent exchange sent this advice to interested parties, advising institutional purchasers and those following regulations to heed it.

Sylvia-Shen

Sylvia Shen

Sylvia Shen, a news reporter at BTW media dedicated in Fintech and Blockchain. She graduated from University of California, Davis. Send tips to s.shen@btw.media.

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