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The Defiant
2025-04-05 12:30:40

FTX Cancels $2.5 Billion in Claims Due to KYC Failures Affecting 392,000 Customers, Including $655 Million in Small Claims and $1.9 Billion in Large Claims

FTX has announced it will dismiss over $2.5 billion in claims related to Know Your Customer (KYC) verification failures. According to a filing in the U.S. Bankruptcy Court for the District of Delaware, the company has canceled nearly 392,000 customer claims that did not complete KYC verification by the March 3 deadline. Of the total claims, approximately $655 million are categorized as small claims, while $1.9 billion are classified as larger claims. This decision comes as FTX continues to navigate its bankruptcy proceedings and address outstanding creditor issues. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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