FTX customers filed class action to lay claim to dwindling assets

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FTX customers filed class action to lay claim to dwindling assets

FTX customers filed a class action lawsuit against the failed cryptocurrency exchange and its former top executives, including Sam Bankman-Fried, seeking a declaration that the company’s digital asset holdings belong to customers.

The lawsuit is the latest legal attempt to seize FTX’s dwindling assets, which are already being contested by liquidators in the Bahamas and Antigua, as well as the bankruptcy estate of Blockfi, another failed crypto company. According to the lawsuit filed in U.S. Bankruptcy Court in Delaware, FTX promised to segregate customer accounts but instead allowed them to be misappropriated, and thus customers should be repaid first.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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FTX customers filed a class action lawsuit against the failed cryptocurrency exchange and its former top executives, including Sam Bankman-Fried, seeking a declaration that the company’s digital asset holdings belong to customers.

The lawsuit is the latest legal attempt to seize FTX’s dwindling assets, which are already being contested by liquidators in the Bahamas and Antigua, as well as the bankruptcy estate of Blockfi, another failed crypto company. According to the lawsuit filed in U.S. Bankruptcy Court in Delaware, FTX promised to segregate customer accounts but instead allowed them to be misappropriated, and thus customers should be repaid first.

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Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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