FTX Proposes $16,871 per BTC for Customer Claims, Faces Opposition from Creditors

According to court documents from December 27, the bankrupt FTX is seeking court approval to estimate its customers' digital asset claims in USD, proposing the following valuations: Bitcoin at $16,871, Ethereum at $1,258, SOL at $16, and AVAX at $14.19. FTX believes that its valuation represents the "fair and reasonable" value of these digital assets as of the filing date (November 11, 2022). The motion has drawn criticism from FTX creditors, with one of the most prominent creditors, Sunil Kavuri, pointing out that the motion significantly undervalues the assets and urging customers to "contest" it. Customers who disagree with the motion must file objections by January 11.