What is a Digital Assets Conversion Table?
On February 7, 2024 the United States Bankruptcy Court entered the Order Granting Motion of Debtors to Estimate Claims Base don Digital Assets [Docket No. 7090], which, among other things, approved a Digital Assets Conversion Table attached to the order to be used to estimate claims based on digital assets and fiat currency for purposes of solicitation, voting and distribution for any Chapter 11 plan. The Digital Assets Conversion Table provides the basis by which creditors can understand the value of their Claims, and the Debtors can calculate the value of Claims in respect of Digital Assets for voting and distribution purposes.
The table is subdivided as follows:
- Fiat Currency
- Stablecoins
- Remaining Cryptocurrencies and Tokens (excl. FTT)
- Non-Marketable Assets - LOCKED Digital Assets
- Non-Marketable Assets - CUSTOM Tokens
- Non-Marketable Assets - Options
- FTX Equity Claims and FTT
- Leveraged Tokens
- Tokenized Stocks
- Spot+ Derivatives (EU Only)
- Futures
To calculate the value of your claim for each ticker, take the quantity of each ticker and multiply it by the price in the Digital Assets Conversion Table for the ticker you have a claim for. Add the claim value for each ticker to come up with your total claim value.
If my claim is approved, does this mean that I will get the full amount estimated?
The value of claims has not been made available yet. The court proceedings are still ongoing.
The estimate I see for an asset is not the same as the value it was on FTX as of filing. Why?
The values or estimated prices are generated from the Digital Asset Conversion Table
How do I dispute the estimated values?
The deadline for submitting objections to the estimated values has passed.
Click here to see the full Digital Assets Conversion Table. https://restructuring.ra.kroll.com/FTX/Home-DownloadPDF?id1=MjYxNDg5Mw==&id2=-1 [protect-us.mimecast.com]
To download all documents filed in the Debtors’ chapter 11 cases free of charge, please visit https://restructuring.ra.kroll.com/FTX