FTX bankruptcy victims seek court ruling 8 billion dollar assets belong to customers, not bankruptcy estate

FTX bankruptcy victims are seeking a ruling that the assets seized from the failing cryptocurrency exchange, about $8 billion, belong to its customers, not the bankruptcy estate, according to documents filed Friday with the U.S. District Court for the Southern District of New York. Last month, FTX's receiver proposed a new restructuring plan that would see 98 percent of creditors recover 118 percent of their claims in cash within 60 days of court approval. But the plan has left many FTX customers feeling they missed out on an opportunity to profit from rising cryptocurrency prices.