Latest NewsMar 6: FTX Debtors request 4 month delay, pay US Gov with customer assets

Join the FTX Customer Ad-Hoc Committee (CAHC) and Vote: NO

With over 1000+ former FTX customers holding 9-figures in claims we have formed the largest voting block in the FTX bankruptcy cases.

Our legal counsel McCarter & English, LLP have filed customer property litigation: docket 6863

Join us in voting NO on any plan that fails to addresses serious issues impacting recovery of customer property.

Read our bylaws and charter to learn more.


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Issues with current plan

We vote 'no' on any plan unless the following issues are addressed

The debtors have filed a half-baked and value-destructive plan. We aim to fix it by litigating our property rights and negotiating for common sense solutions like those below.

Priority for customers.
If the current plan stands, upside goes to non-customers even from proceeds that were 100% traced to customer wallets, like Anthropic.
Theft of property damages.
Customers should recover today's valuation of their crypto assets due to theft of property.
No 30% withholding tax.
Since the large majority of customers are non-US we will be subject to a 30% withholding tax which we will have to claim back from the IRS, an issue that the debtors have completely ignored due to their US focus.
Digital distributions.
The debtors want to distribute recoveries via 'cash' which is lawyer-speak for checks in the mail. This is a huge and costly administrative burden that will reduce and delay recoveries.