Complete guide to voting on FTX.com: explanation of options and practical instructions

Following the announcement of FTX’s bankruptcy in November 2022, many users are now facing a complex situation when it comes to recovering their funds. In this guide, we’ll explore the voting process on FTX.com in detail, describing the various options available to creditors and providing practical instructions for completing the process. Whether you’re a former user of the platform or simply looking to understand how to proceed, you’ll find all the information you need here. Understanding the Voting Context Since the bankruptcy, FTX’s situation has generated a number of administrative and legal twists and turns, leaving many creditors confused by complex jargon. The voting process is essential because it will allow customers to vote on the repayment options offered by the platform. If you’re an FTX.com creditor, you’ve likely received communications asking you to make crucial choices regarding the recovery of your funds. Your Choices

During this voting phase, you have several options. As a creditor of FTX.com, here are the main decisions to make:

Choose between the US and Bahamas proceedings

: You must decide whether you wish to participate in the repayment process in the US or the Bahamas. Note that you can only participate in one of these two processes.

Vote for or against the distribution plan

• : This option allows you to express your opinion on the distribution plan proposed by the US courts. However, it is important to remember that this vote is not binding on the court. File Impaired Claims Litigation
• : If you believe you will not recover all of your funds, you will need to decide whether you wish to sue the bankruptcy administrators. Elevation of a Claim to a Different Category: Creditors also have the option to have their claim moved to a category that could allow them to recover their funds more quickly.
• Steps to Vote To participate in the vote, several steps must be followed. It is crucial to log in to the correct platform and provide the necessary information. Here are the important steps in this process:
• Access the Voting PlatformYou have two options to begin:

Go directly to claims.ftx.com

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Use the link sent in the email received, directing you to restructuring.ra.kroll.com/FTX/EBallot-Home

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• Log in to the Platform Log in using your FTX account credentials. If you have two-factor authentication (2FA), be sure to use it to secure your login. Once logged in, you will have access to your dashboard, where you can choose to vote. Choose the applicable procedureOnce on the voting platform, you will need to select between the United States and Bahamas procedures. This decision will have a significant impact on how you recover your funds. Some options may be more advantageous than others depending on your personal situation and outstanding debts.
• Verify your information Before voting, it is essential to verify that the amount associated with your vote is correct and corresponds to the amount originally claimed. This will ensure that all your information is up to date and avoid complications when processing your claim.Vote for or against

In this section, you will have the opportunity to vote to accept or reject the distribution plan. Keep in mind that your vote may influence the speed with which the reimbursement process is implemented. A majority vote in favor of the plan could lead to a quicker closure of the file, while a vote against could extend the reimbursement deadlines.

Sign and Submit Your Vote Finally, after completing all the steps, you must provide certain personal information to finalize the vote. This includes your name, address, and other required details. Once you have signed, be sure to click “Submit” to register your choice with the relevant authorities. Stay Vigilant Against Scams

During this process, be especially vigilant for attempted scams. With the reimbursement deadline approaching, scammers are on the rise. Always verify the authenticity of emails received and never share your personal information, especially your cryptocurrency accounts. Remember that FTX never requests crypto wallet addresses or allows transactions outside of its official platforms.

Alternatives to consider

For those who wish to avoid the voting process and the associated complications, reselling your claims to third parties may be an option. This approach can provide faster liquidity. Platforms exist to facilitate this type of transaction, although it involves selling at a price below the claim’s face value. Do your research before making such a decision.