In a class-action <a href="/Users/gungu/Downloads/8b53ad8f-92cd-4138-afd4-0bc05d676280.pdf" target="_blank" rel="nofollow noopener">lawsuit</a>, four people demand that the FTX customers, not investors, be given first access to any seized assets. The former clients worked hard to get their funds refunded before the federal agencies lined up to support the <a href="https://www.cryptoknowmics.com/news/philippine-sec-warns-against-illegal-crypto-exchanges-amid-ftx-fall">FTX</a> and its owner <a href="https://www.cryptoknowmics.com/news/peter-schiff-takes-a-another-dig-at-sam-bankman-fried">Sam Bankman-Fried</a>.
<h2>FTX Customers to File Class-Action Lawsuit</h2>
In the United States <a href="https://www.cryptoknowmics.com/news/core-scientific-to-file-bankruptcy-and-continue-mining-during-the-process">Bankruptcy</a> Court for the District of Delaware, the lawsuit was submitted on December 27. In a class action lawsuit, which may include up to 1 million people, four defendants assert that they speak for the whole group of former FTX customers. The priority rights to give customers of <a href="https://www.cryptoknowmics.com/news/former-cftc-commissioner-jill-sommers-joins-ftx-us-derivatives-board">FTX US</a> or FTX.com access to digital assets that these companies have in their possession are what the action seeks to secure.

The claimants stress that the FTX User Agreement forbade the network from utilizing user cash for its own reasons, such as borrowing against them or spending them on operations costs. According to the class-action lawsuit, any withdrawal of client money from accounts constituted an unlawful mixing, misappropriation, use, or transfer of customer assets.
<h2>FTX Funds Identifiable to Users</h2>
According to the complaint, class members of customers shouldn't have to queue up behind secured or general unsecured creditors in these bankruptcy procedures in order to receive a piece of the FTX Group and <a href="https://www.cryptoknowmics.com/news/the-block-ceo-resigns-after-failure-to-reveal-loans-from-sbfs-alameda">Alameda's</a> reduced estate assets. Until consumers are reimbursed, any monies that FTX has frozen that are identifiable to customer ownership cannot be employed to pay non-customer expenditures, claims, or creditors.

FTX Customers Initiate Class-Action Lawsuit to Get Primary Damages

In a class-action lawsuit, four people demand that the FTX customers, not investors, be given first access to any seized assets.

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FTX Customers Initiate Class-Action Lawsuit to Get Primary Damages

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