In a revised Chapter 11 reorganization plan, FTX debtors FTX Trading Limited and FTX Digital Markets Limited say customers' crypto claims will be evaluated using a conversion table, with a valuation based on market prices of the date of the request.
The conversion table will establish a US dollar value for each cryptocurrency based on its market price on the date of FTX's bankruptcy filing. Customers with crypto claims will receive the corresponding value in US dollars.
The reorganization plan also sets a US$250,000 limit for individual crypto claims. Claims above this limit will be reduced proportionally.
FTX debtors claim the reorganization plan is fair and equitable to all creditors, including customers with crypto claims. The plan is subject to court approval.
Sources:
https://twitter.com/sunil_trades/status/1736128401772105761
Cointelegraph: https://cointelegraph.com/news/ftx-reorganization-plan-crypto-assets-bankruptcy