Should FTX users be viewed as creditors or asset owners? The answer could mean the difference between recovering funds or getting short-changed.

Dec 22 2022 by Business Insider

 
The logo of FTX is seen at the entrance of the FTX Arena in Miami, Florida, US.

Marco Bello/Reuters

Some FTX customers with funds trapped on the exchange want to be viewed as asset owners, the Financial Times reported.  Lawyers plan to argue that the funds still held by FTX are "custody" assets that are owned by the users and should be repaid faster. Otherwise, being seen as unsecured creditors could mean waiting longer and only getting a fraction of their money back.

A group of FTX customers...

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