As a reminder, the FTX Bankruptcy Court has set a Customer Claims Bar date (the “Bar Date”) of September 29, 2023 for the filing of Customer Claims for both the US Exchange and the Foreign FTX Exchange. The Debtors have set up a website (https://claims.ftx.com/) where you can view the scheduled valuation of your account.

At a minimum, you should: (1) review your account information and balances on the website for accuracy; and (2) begin the KYC verification process.

In order to have a recognized claim in the amount of your account balance on the date of the bankruptcy filing, you need do nothing. If your account has a “CUD” designation, you should inquire about the reason for the designation and dispute it if need be. If you disagree with your balance, you need to file a claim and go through the dispute process on the website before the Bar Date, which is September 29, 2023 at 4:00 p.m. EST. If you do not file a claim before the Bar Date, you will be precluded from disputing the amount the Debtors have scheduled for your claim based upon their records.

Whether or not you decide to file a claim, US law requires KYC verification in order for FTX customers to be paid any amount through the bankruptcy process. We urge you to follow the link in the portal to complete your KYC verification. You do not need to verify before the Bar Date, but you should absolutely do so as soon as possible. Once completed, you will be in a position to be paid out and we are told payments will be made to verified accounts first (presumably in some order of verification).

Entwistle & Cappucci LLP represents a prospective class of all customers on the US and foreign exchange with claims against FTX. More information may be found on the firm’s website. You may also contact Josh Porter (jporter@entwistle-law.com) or Robert Cappucci (rcappucci@entwistle-law.com).

Nothing in this release should be construed as legal advice.

About Entwistle & Cappucci

Entwistle & Cappucci is a national law firm providing exceptional legal representation to clients in the most complex and challenging legal matters. Our practice encompasses all areas of litigation, corporate transactions, bankruptcy, insurance, corporate investigations, and white-collar defense. Our clients include public and private corporations, major hedge funds, public pension funds, governmental entities, leading institutional investors, domestic and foreign financial services companies, emerging business enterprises and individual entrepreneurs.

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