FTX proposed to value the BTC claimed by customers at US$16,800 per coin, but was opposed by creditors

According to court documents on December 27th, bankrupt FTX is seeking court approval to estimate its clients' digital asset claims in US dollars. The platform proposes the following prices: Bitcoin at $16,871, Ethereum at $1,258, SOL at $16, and AVAX at $14.19. FTX believes that its valuations represent the "fair and reasonable" value of these digital assets as of the application date (November 11th, 2022).

This motion has drawn criticism from FTX creditors, including Sunil Kavuri, one of the company's most prominent creditors, who pointed out that the motion significantly undervalues the value of digital assets and urged clients to "resist." Clients who do not agree with the motion must submit objections by January 11th.