Table of Contents
ToggleReviewed by Frego & Associates · Bankruptcy Law, Digital Asset Recovery · Published September 24, 2026
FTX customers are getting paid back roughly 118 cents on the dollar, and many of them are furious about it. The reason exposes everything strange about how bankruptcy courts treat digital assets: the estate values every claim in U.S. dollars at the November 11, 2022 filing date and pays in cash, so a customer who lost one Bitcoin gets its 2022 price back, not the coin that has since multiplied in value, as CoinDesk reported of the estate’s plan.[1] Getting “100%” back can still feel like a loss.
That single rule, valuing crypto on the day of filing, sits at the center of the biggest digital-asset bankruptcies in U.S. history. Since 2022, the roughly $8 billion FTX collapse,[2] Celsius Network’s Chapter 11,[3] and BlockFi’s failure have all forced courts to answer a question the Bankruptcy Code never anticipated: what exactly is a token, an NFT, or a private key when a company goes under?
The answer is now reasonably settled. Cryptocurrency is property of the estate under federal law, and how much you recover depends far less on the technology than on the fine print of your account agreement.[4]
Frego & Associates helps clients navigate digital asset classification, custody disputes, and recovery strategies in bankruptcy proceedings.
How Do Bankruptcy Courts Classify Cryptocurrency as Property?
Under 11 U.S.C. § 541, bankruptcy courts treat cryptocurrency as “property of the estate,” the same broad category that covers real estate, vehicles, and financial securities.[4] Bitcoin, Ether, and other fungible tokens are handled much like cash or investment holdings.
Because these assets exist as entries on public blockchains, courts face evidentiary and custody problems that traditional property law never contemplated. Control of the private key is central to who holds the asset, but real cases have turned on contract terms rather than on any single rule that “address control equals ownership.”[8]
The critical distinction is whether the asset is self-custodied (held in a private wallet the debtor controls) or exchange-custodied (held on a centralized platform such as Coinbase or Kraken).
With exchange-held crypto, the trustee contacts the platform and freezes the account, and the platform acts as custodian while the trustee manages distribution. With self-custodied crypto, the trustee must locate the private keys, confirm the wallet holds the claimed assets, and manage the technical transfer of ownership.
This asymmetry drives several recurring problems:
- Lost or inaccessible assets. A debtor who forgets a private key or loses a hardware wallet can render holdings permanently unrecoverable. If the keys cannot be produced, the trustee cannot reach the assets.
- Valuation disputes. Courts fix value as of the bankruptcy filing date, even though a token can move sharply within hours. The FTX plan illustrates the consequence: claims were locked to the November 11, 2022 price and later crypto appreciation was excluded.[1]
- Tax complications. Moving crypto can trigger capital gain or loss events for the estate. In FTX, the IRS initially asserted tens of billions in claims that the estate later settled for about $885 million, Cointelegraph reported.[10]
For clients holding substantial crypto, mapping your digital asset inventory and custody with a bankruptcy attorney before any filing can prevent costly surprises. Contact Frego & Associates for guidance on protecting your digital property. Explore Frego’s bankruptcy services →
What Legal Status Do NFTs Have in Bankruptcy Proceedings?
NFTs raise a practical problem more than a novel legal one. Like any digital asset, an NFT is property under 11 U.S.C. § 541. The real hurdle is proving it is worth pursuing.
There is no special “NFT test” in the Bankruptcy Code or in reported case law. Instead, a trustee applies the same cost-benefit judgment used for any illiquid asset. Before spending estate money to seize and sell an NFT, the trustee has to be satisfied that it can actually be converted to cash. In practice that means three things matter:
- An active marketplace. A recognized venue exists where the NFT can be sold (OpenSea, Foundation, Magic Eden, and similar platforms).
- Recent comparable sales. Marketplace data shows what similar NFTs actually sold for recently, not a headline mint price from years earlier.
- Transferability. The smart contract allows transfer without the original creator’s ongoing approval.
The economics are unforgiving. A 2023 dappGambl study of 73,257 NFT collections, reported by Forbes Australia, found that roughly 95% were effectively worthless, with little or no trading activity.[5] An asset that cannot be sold has no value to distribute, so trustees routinely abandon illiquid NFTs back to the debtor rather than spend estate resources chasing them.
When an NFT does have a liquid market, it is treated like any other estate asset and valued using marketplace comparables. NFT categories therefore fare very differently:
| NFT Category | Liquidity | Likely Treatment |
|---|---|---|
| Art NFTs by known artists | Sometimes strong | Pursued when sold on Foundation, SuperRare, or similar platforms with documented price history |
| Blue-chip profile-picture NFTs (Bored Ape, Pudgy Penguins) | Higher | Active community trading can support a recognized value |
| Game-native NFTs | Often weak | Frequently abandoned if the underlying game has shut down or lost its player base |
| Abandoned-project NFTs | None | No market and no recent trades, so treated as having no realizable value |
Citation Capsule: NFTs are estate property under 11 U.S.C. § 541, but a trustee only pursues them when active marketplace evidence, recent comparable sales, and transferability show the asset can be converted to cash.
NFTs without a liquid secondary market are typically abandoned back to the debtor because there is no realizable value for creditors.
How Does the Bankruptcy Process Handle Digital Assets?
Whether the estate holds crypto or traditional property, the procedural steps are the same. Digital assets simply add technical complexity that trustees were not originally trained to handle. Understanding the sequence helps both debtors and creditors set expectations. For a broader walkthrough, see our guide to the steps of Chapter 7 bankruptcy in Michigan.
Step 1: Petition and Automatic Stay (Days 0–3)
When a debtor files, an automatic stay under 11 U.S.C. § 362 immediately halts creditor collection efforts, including asset seizures.[11] The trustee’s first priority is securing digital assets. (Our overview of the automatic stay in bankruptcy explains how this protection works.)
- Exchange-held crypto. The trustee contacts the platform (Coinbase, Kraken, and others) and freezes the account.
- Self-custodied crypto. The trustee subpoenas the debtor for seed phrases, password managers, or hardware wallet locations.
What FTX showed: The FTX estate spent months tracing billions of dollars in cryptocurrency scattered across numerous wallets and exchange accounts, recovering roughly $5.5 billion in cash and liquid crypto by early 2023.[6]
Blockchain-analysis firms such as Chainalysis and TRM Labs made that asset tracing possible. The lesson for anyone holding significant crypto is the same: build a documented digital asset inventory before a filing, not after.
Step 2: Asset Discovery and Valuation (Days 4–30)
The trustee must identify every digital asset, authenticate it on the blockchain, and assign a dollar value as of the filing date. That creates friction:
- Crypto valuation. Trustees use the filing-date price from sources such as CoinMarketCap, CoinGecko, or exchange data. The petition date, not a later date, controls.[12]
- NFT valuation. Illiquid NFTs require a specialist to research marketplace comparables, and professional appraisal is costly relative to what most NFTs would ever fetch.
- Staking and yield. Crypto locked in staking or DeFi protocols keeps generating yield during the case, and courts must decide whether that yield belongs to the estate.
Frego & Associates can help clients prepare a complete digital asset inventory before filing to streamline this stage. Schedule a bankruptcy consultation →
Step 3: Creditor Claims Period (Days 0–70)
Creditors file claims against the estate. In crypto bankruptcies, they typically include:
- Lenders (such as BlockFi, Celsius, or Genesis) that advanced loans backed by crypto
- Counterparties to futures, options, or perpetual contracts
- Depositors claiming the company mismanaged their funds, the category at the heart of the roughly $8 billion FTX shortfall[2]
- Tax authorities asserting unpaid tax on crypto activity
Step 4: Liquidation and Market Impact (Days 30–180)
The trustee converts digital assets to dollars for distribution. This step carries unique risks:
- Market timing. Large sales can move the market against the estate, so trustees stagger liquidations to avoid depressing the price of what they are selling.
- Custody security. Assets must sit in insured, audited custodial accounts, and freezes at some platforms have delayed liquidation.
- Tax cascade. Converting crypto to dollars can trigger tax events, and in FTX the estate resolved the IRS’s claims with a settlement of about $885 million.[10]
- Time decay. NFT liquidity can evaporate during a long case, so an asset “worth $100K” at filing may be unsellable by liquidation.
Step 5: Distribution to Creditors (Days 120–180)
The trustee distributes proceeds under the priority scheme of 11 U.S.C. § 726: administrative costs first, then secured creditors, then unsecured creditors.[13] In crypto cases this means:
- Administrative and professional fees are paid first
- Secured creditors (those with collateral) recover next
- Unsecured creditors (most depositors and lenders) split what remains, pro rata
Celsius shows how distributions actually reach creditors. The confirmed plan paid in cash and liquid crypto such as Bitcoin, delivering roughly 60% of petition-date claim value rather than repaying customers in kind, according to The Block’s distribution reporting.[14]
| Phase | Timeframe | Key Actions |
|---|---|---|
| Filing & Auto Stay | Days 0–3 | Exchange freezes, private-key subpoenas, creditor halt |
| Discovery & Valuation | Days 4–30 | Blockchain analysis, wallet location, petition-date valuation |
| Creditor Claims | Days 0–70 | Lenders, depositors, counterparties, tax authorities file claims |
| Liquidation | Days 30–180 | Market sale of crypto and NFTs, custody transfer, tax treatment |
| Distribution | Days 120–180 | Pro-rata payout under 11 U.S.C. § 726 |
The table shows the procedural rhythm of an individual case. The large corporate crypto bankruptcies below ran for years, not months.
For clients with substantial digital assets, proactive planning can preserve value and speed resolution. Contact Frego & Associates for a confidential digital asset strategy session. See Frego’s bankruptcy services →
Case Studies: What Actually Happened in Major Crypto Bankruptcies?
The FTX collapse in November 2022 became both the template and the cautionary tale for every crypto bankruptcy that followed. FTX filed Chapter 11 with roughly $8 billion in customer funds missing, the CFTC alleged in its fraud complaint.[2]
Founder Sam Bankman-Fried had diverted billions of dollars in customer deposits to Alameda Research, a trading firm he also owned. He was convicted on all counts in 2023 and sentenced to 25 years in prison, the Justice Department announced.[15]
FTX Bankruptcy Outcomes (2022–2026)
- Asset recovery. The estate located roughly $5.5 billion in cash and liquid crypto by early 2023 and continued recovering assets after that.[6]
- Non-crypto sales. The estate also sold its stake in the AI company Anthropic in 2024 for about $1.3 billion total, with a first tranche of $884 million reported by CNBC, well above FTX’s original $500 million investment.[16]
- How creditors are paid. Every claim is valued in dollars at the November 11, 2022 petition date and paid in cash. Roughly 98% of creditors, those in the sub-$50,000 “convenience class,” receive about 118% of their petition-date claim value.[1]
- Total distributions. The FTX Recovery Trust paid creditors across multiple cash rounds, including a fourth distribution of about $2.2 billion on March 31, 2026, by which point its main U.S. customer class reached 100% cumulative repayment.[7]
- The catch. Because value is locked to the 2022 filing date, creditors do not share in the crypto price appreciation since then, the core grievance behind an otherwise “full” recovery.[1]
The case shows why asset segregation and transparent custody matter. FTX’s commingling of customer and corporate funds produced years of litigation and creditor uncertainty.
Celsius Network Bankruptcy (2022–2025)
| Metric | Detail |
|---|---|
| Filing | Chapter 11 filed July 13, 2022, Southern District of New York, Case No. 22-10964 (MG)[17] |
| Estate size | About $5.5 billion owed to clients and creditors, with a roughly $1.2 billion shortfall against $4.3 billion in assets[3] |
| Recovery | Around 57–60% of petition-date claim value in the distributions reported to date[14] |
| Form of payment | Cash and liquid crypto such as Bitcoin, at roughly 57–60% of petition-date claim value[14] |
| Key lesson | Ownership turned on the terms of use: “Earn” balances became estate property[8] |
BlockFi Bankruptcy (2022–2023)
| Metric | Detail |
|---|---|
| Filing | Chapter 11 filed November 28, 2022, District of New Jersey, Case No. 22-19361 (MBK)[18] |
| Estate | Assets and liabilities each reported in the $1 billion to $10 billion range[18] |
| FTX connection | FTX had extended a $400 million credit facility and an option to acquire BlockFi for up to $240 million; the acquisition was never completed and FTX’s own collapse pushed BlockFi into bankruptcy[18] |
| Ownership dispute | Recovery again depended on account type: interest-bearing balances versus non-interest custodial wallets were treated differently under the terms[8] |
Pattern across the cases: Large crypto bankruptcies run for years, not months. FTX began distributing about three years after filing, and Celsius roughly two years after filing.[7]
The delays come from tracing wallets and private keys, appraising illiquid assets, liquidating without crashing thin markets, and coordinating with exchanges and regulators. Individual consumer cases move far faster, but the same valuation and custody questions apply.
Frego & Associates has represented clients in disputes arising from cryptocurrency lending failures, helping creditors navigate recovery claims and asset-segregation questions.
What Legal Rights Do Crypto Holders Have in Bankruptcy?
The status of deposited cryptocurrency depends on how the platform structured its customer agreements. That fine print, more than anything technical, decides whether you are treated as an owner of specific property or as one more unsecured creditor waiting in line.[8]
Custodial and Segregated Accounts
When a platform holds customer crypto in a genuine custodial arrangement, keeping it segregated and contractually promising to return the same assets, customers have a stronger claim to specific property rather than to a share of a pooled estate.
The 2022 amendments to the Uniform Commercial Code support this structure. Under UCC Article 8, a custodian and customer can agree to treat custodied crypto as a “financial asset” in a securities account, giving the customer priority over the custodian’s general creditors in an insolvency.[19] The new UCC Article 12 addresses control of the digital assets themselves.
Pooled or Commingled Accounts
If the platform’s terms instead fold customer crypto into interest-bearing or lending programs, as with the FTX model and the Celsius “Earn” program, customers generally become general unsecured creditors.[8] They recover only after:
- Administrative costs and professional fees
- Secured creditors and tax authorities
- Then remaining customers, pro rata
That hierarchy is why Celsius customers have recovered roughly 57–60% of their petition-date claim value,[14] and why FTX’s cash-only, petition-date payout leaves customers without the upside of later price gains even when the nominal recovery exceeds 100%.[1]
Self-Custody (Personal Wallets)
Crypto held under your own private keys is not part of a third party’s bankruptcy estate, so an exchange failure does not reach it. The tradeoff is that you carry all the security risk yourself: lose the keys, and the assets are gone.
If you personally file for bankruptcy, however, your self-custodied crypto is part of your own estate under 11 U.S.C. § 541, subject to the same valuation and exemption rules as your other property.[4]
| Custody Model | Typical Creditor Position |
|---|---|
| Segregated custodial account | Stronger claim to specific property; potential priority over general creditors |
| Pooled / interest-bearing account | General unsecured creditor; recovers pro rata after priority claims |
| Self-custody (third party fails) | Not part of the third party’s estate |
| Self-custody (you file personally) | Part of your personal estate under § 541 |
Positions are general; the controlling detail is each platform’s terms of use and how a court reads them.
Where the Law Is Heading
Congress has moved on digital-asset market structure but not on bankruptcy priority. The Digital Asset Market Clarity Act (H.R. 3633, the CLARITY Act) passed the House in July 2025 and stalled in the Senate.[9] It is a market-structure bill dividing SEC and CFTC oversight, not a law that creates a “customer priority” in crypto bankruptcies.
So as of 2026, no single federal framework governs digital-asset bankruptcies. Treatment still develops through court decisions and existing law, which is exactly why custodial terms and segregation deserve close attention before you deposit significant holdings.
Frego & Associates helps clients evaluate custodian terms before depositing significant holdings and understand their likely creditor position. Contact Frego for a custody review →
How Has Crypto Custody Regulation Evolved Since FTX?
The period since 2022 reshaped digital-asset oversight through agency action and litigation, even without a single governing statute.
SEC Accounting Guidance
In 2022, the SEC issued Staff Accounting Bulletin No. 121 (SAB 121), which directed companies safeguarding customer crypto to record it on their balance sheets. The SEC rescinded SAB 121 through SAB 122 in January 2025, so any description of it as current guidance is out of date.[20]
Bank Custody Under the OCC
Authority for federally chartered banks to custody crypto comes from the Office of the Comptroller of the Currency, not from any bankruptcy statute. The OCC first permitted national-bank crypto custody in Interpretive Letter 1170 (2020) and consolidated its crypto guidance in Bulletin 2025-2.[21]
What Bankruptcy Courts Have Settled
- Crypto is property. Cryptocurrency is property of the estate under 11 U.S.C. § 541 and receives standard estate treatment.[4]
- Petition-date valuation. The FTX plan set claim value as of the November 11, 2022 filing date, a benchmark other cases have followed.[12]
- Terms of use control ownership. Celsius and BlockFi both turned on account terms, with interest-bearing balances treated as estate property and custodial wallets treated differently.[8]
A Common Misconception About Insurance
Crypto deposits are not protected by SIPC. SIPC covers securities at failed member brokerages up to $500,000, and it expressly does not extend to cryptocurrency. No SIPC-style federal insurance fund for crypto deposits currently exists.[22]
Gaps remain. DeFi platforms, self-custody solutions, and cross-chain bridges still operate with limited oversight, so custody risk remains a central concern for investors and creditors.
Frego & Associates tracks these developments and advises clients on custody-risk mitigation. To see how the two systems interact, our guide to federal versus Michigan bankruptcy law is a useful companion.
Frequently Asked Questions
Will I Lose All My Crypto if an Exchange Goes Bankrupt?
It depends on the platform’s terms of use. If your holdings sat in a genuine custodial arrangement kept segregated from the company’s own funds, you have a stronger claim to specific property.[8] If your crypto was pooled into an interest-bearing or lending program, as with the FTX model or the Celsius “Earn” product, you become a general unsecured creditor and recover pro rata. Celsius customers have recovered roughly 57–60% of petition-date value on that basis.[14] Before depositing substantial holdings, read the custody terms carefully. Frego & Associates can review them with you.
What if I Hold Crypto in a Hardware Wallet or Self-Custody Cold Storage?
Self-custodied crypto is not part of a third party’s bankruptcy estate, so if an exchange or lender fails, holdings in a Ledger, Trezor, or other non-custodial wallet remain under your control. The exception is your own bankruptcy. If you personally file, self-custodied crypto is part of your estate under 11 U.S.C. § 541.[4] And the security burden is entirely yours: lose the keys and the assets are unrecoverable.
How Long Does a Crypto Bankruptcy Take to Pay Out?
The large corporate cases take years. FTX filed in November 2022 and began distributions about three years later; Celsius filed in July 2022 and began distributions roughly two years later.[7] Timing depends on asset complexity, litigation against insiders, liquidation strategy, and creditor objections. Individual consumer cases resolve far faster than these headline bankruptcies. Read more digital asset and bankruptcy guides →
Are NFTs Really Worth Anything in Bankruptcy Court?
Only if they can actually be sold. There is no special NFT test; a trustee simply asks whether an active marketplace, recent comparable sales, and transferability make the NFT worth pursuing. Most do not clear that bar. Research on thousands of collections found roughly 95% effectively worthless, so illiquid NFTs are usually abandoned back to the debtor.[5] Blue-chip collections with real trading activity are the exception.
What Happens if a Trustee Cannot Locate My Private Keys?
If the keys are permanently lost, the crypto is lost to the estate. The trustee exhausts reasonable recovery efforts, including forensic specialists and password-recovery firms, and writes off what cannot be reached. To protect your holdings, keep secure, documented key backups in more than one place, such as a safe-deposit box or attorney escrow, rather than in email or cloud notes. Frego & Associates helps clients set up formal digital asset inventories and key-recovery procedures before a filing.
Conclusion: Digital Asset Bankruptcy Is Now Established Law
Nearly four years after the FTX collapse, the core rules are clear: cryptocurrency is property of the estate, courts value it at the petition date, and your account terms decide whether you own specific assets or hold an unsecured claim. That is a major improvement over the legal ambiguity of 2022.
The settled points:
- Cryptocurrency is property under 11 U.S.C. § 541
- Courts value crypto claims at the filing date
- NFTs are property, but only pursued when they are liquid
- Terms of use, not technology, drive recovery
The open gaps:
- No unified federal custody mandate yet
- No enacted “customer priority” in crypto bankruptcy
- No SIPC-style insurance for crypto deposits
- DeFi and non-custodial platforms remain lightly regulated
For investors and business owners, the practical lesson is simple: custody structure determines bankruptcy outcomes. The account terms you accept today shape whether you recover specific property or wait in the unsecured line tomorrow.
Immediate Actions
- Audit your custody. Confirm who holds your crypto and read the terms that decide whether it is segregated or pooled.
- Back up your keys. If you self-custody, keep documented recovery methods in more than one secure location.
- Watch the legislation. Market-structure bills like the CLARITY Act are advancing, and enacted law could change creditor protections.[9]
- Consult an attorney early. If you face possible bankruptcy or held crypto through a failed platform, legal counsel before a crisis can prevent avoidable losses.
Facing a Crypto or Digital Asset Bankruptcy?
Frego & Associates handles bankruptcy law, creditor representation, and custody disputes. The firm has represented clients in digital asset recovery matters arising from the recent wave of crypto failures.
Explore Frego Bankruptcy Services · Meet Our Attorneys
Sources
Statutory sources are linked to the Legal Information Institute. Case and reporting sources are linked to court records and established news outlets. Sources are numbered in the order they first appear above. All URLs retrieved August 13, 2026.
- CoinDesk (May 8, 2024). Nearly All FTX Creditors Will Get 118% of Their Funds Back in Cash, Estate Says (petition-date valuation as of Nov. 11, 2022). coindesk.com
- U.S. Commodity Futures Trading Commission (2022). CFTC Charges Sam Bankman-Fried, FTX Trading and Alameda with Fraud (alleging over $8 billion in customer deposits lost). cftc.gov
- Decrypt (2022). Celsius Bankruptcy Filing Reveals $1.2 Billion Hole (about $5.5 billion owed to clients and creditors; $4.3 billion in assets). decrypt.co
- 11 U.S.C. § 541, Property of the Estate. Legal Information Institute, Cornell Law School. law.cornell.edu
- Forbes Australia (2023), reporting the dappGambl study of 73,257 NFT collections, of which 69,795 (about 95%) had a market cap of 0 ETH. forbes.com.au
- CNBC (Jan. 11, 2023). FTX Has Recovered Over $5 Billion in Liquid Assets, Lawyers Say. cnbc.com
- PR Newswire (Mar. 2026). FTX Recovery Trust to Distribute Approximately $2.2 Billion to Creditors in Fourth Distribution (fourth distribution March 31, 2026; 100% cumulative distribution for the main U.S. customer class). prnewswire.com
- Nelson Mullins, Emerging Issues in Crypto Bankruptcies (Celsius and BlockFi recovery turned on account terms of use). nelsonmullins.com
- U.S. Congress, H.R. 3633, Digital Asset Market Clarity Act of 2025 (CLARITY Act) (passed House July 2025; stalled in Senate). govtrack.us (H.R. 3633)
- Cointelegraph (2024). FTX Settles IRS Tax Claim (roughly $885 million total settlement after multibillion-dollar initial claims). cointelegraph.com
- 11 U.S.C. § 362, Automatic Stay. Legal Information Institute, Cornell Law School. law.cornell.edu
- Steptoe (2024). U.S. Bankruptcy Court Sets Precedent in Valuing Cryptocurrency Claims (petition-date valuation). steptoe.com
- 11 U.S.C. § 726, Distribution of Property of the Estate. Legal Information Institute, Cornell Law School. law.cornell.edu
- The Block (2024). Celsius Creditor Distributions and Recovery Rate (about 60.4% cumulative of petition-date claim value; distributions in cash and Bitcoin). theblock.co
- U.S. Department of Justice, U.S. Attorney’s Office SDNY (Mar. 2024). Samuel Bankman-Fried Sentenced to 25 Years in Prison. justice.gov
- CNBC (Mar. 25, 2024). FTX Estate Sells Majority Stake in Startup Anthropic for $884 Million (about $1.3 billion across tranches). cnbc.com
- U.S. Bankruptcy Court, Southern District of New York, In re Celsius Network LLC, Case No. 22-10964 (MG). nysb.uscourts.gov
- CNBC (Nov. 28, 2022). BlockFi Files for Bankruptcy as FTX Fallout Spreads (D.N.J. Case No. 22-19361; $400M FTX credit facility and up-to-$240M acquisition option, never completed). cnbc.com
- ABA Business Law Today (2023). Cryptocurrency Exchanges and Customers Should Consider Using UCC Article 8 (security-entitlement priority; 2022 UCC amendments and new Article 12). businesslawtoday.org
- Ropes & Gray (Jan. 2025). SEC Staff Accounting Bulletin 122 Rescinds SAB 121. ropesgray.com
- Office of the Comptroller of the Currency, Bulletin 2025-2, Crypto-Asset Activities (national-bank custody authority; Interpretive Letter 1170). occ.gov
- Securities Investor Protection Corporation, What SIPC Protects (crypto is not covered). sipc.org
Court record for FTX: In re FTX Trading Ltd., U.S. Bankruptcy Court, District of Delaware, Case No. 22-11068 (JTD). govinfo.gov
Disclaimer: This article is provided for informational purposes only and does not constitute legal advice. Digital asset bankruptcy law is evolving. Consult a qualified attorney regarding your specific situation. Frego & Associates is a law firm handling bankruptcy law and digital asset recovery matters.