• FTX victims requested that $8 billion in forfeited assets be returned to customers.
• AI tokens dropped 30% in the past week, coinciding with a peak in AI interest on Google Trends.
• PolyMarket betters predict a 32% chance of a handshake between Biden and Trump at the first 2024 presidential debate.

Victims in the FTX bankruptcy case have filed a motion in the U.S. District Court for the Southern District of New York, asserting that $8 billion of the company’s forfeited assets should be returned to customers, not the bankruptcy estate.

The filing comes amid ongoing debate over FTX’s proposed reorganization plan and concerns over the impact of the bankruptcy process on customer recoveries. The estate recently proposed a 60-day reorganization plan to disburse 118% of claims to 98% of creditors pending court approval.

However, many FTX customers have opposed this decision, having missed the opportunity to profit from the crypto price surge due to restricted funds. The victims’ attorneys, Adam Moskowitz, and David Boies, argued that the bankruptcy process has left FTX customers feeling aggrieved, viewing it as a second act of theft.

“FTX customers feel ‘aggr…

The post The FTX Saga Continues: Victims Fight for Their Share of the Spoils appeared first on Coin Edition.

• FTX victims requested that $8 billion in forfeited assets be returned to customers.
• AI tokens dropped 30% in the past week, coinciding with a peak in AI interest on Google Trends.
• PolyMarket betters predict a 32% chance of a handshake between Biden and Trump at the first 2024 presidential debate.

Victims in the FTX bankruptcy case have filed a motion in the U.S. District Court for the Southern District of New York, asserting that $8 billion of the company’s forfeited assets should be returned to customers, not the bankruptcy estate.

The filing comes amid ongoing debate over FTX’s proposed reorganization plan and concerns over the impact of the bankruptcy process on customer recoveries. The estate recently proposed a 60-day reorganization plan to disburse 118% of claims to 98% of creditors pending court approval.

However, many FTX customers have opposed this decision, having missed the opportunity to profit from the crypto price surge due to restricted funds. The victims’ attorneys, Adam Moskowitz, and David Boies, argued that the bankruptcy process has left FTX customers feeling aggrieved, viewing it as a second act of theft.

“FTX customers feel ‘aggr…

The post The FTX Saga Continues: Victims Fight for Their Share of the Spoils appeared first on Coin Edition.