A committee representing the interests of FTX customers is pushing back against a proposed bankruptcy plan, claiming that it violates their property rights.
Some FTX customers are objecting to the troubled exchange’s Dec. 16 proposed bankruptcy plan, stating that it violates their property rights and sells their assets to pay off third-party creditors, including the United States government.
On June 19, a representative of the FTX customers told Cointelegraph that they wanted their cryptocurrency returned to them instead of being paid a cash balance, stating: “We never gave FTX our coins.” A May 9 Los Angeles Times report had previously said that “nearly all customers of FTX will get their money back, plus interest” if the bankruptcy plan is approved.
The objection to the plan comes from the FTX Customers Ad Hoc Committee, a group formed to represent the interests of FTX customers in the bankruptcy case.
