FTX Customer Claims Disqualified: Nearly $2.5 Billion Wiped Out

In a significant development for the FTX bankruptcy process, nearly 400,000 customer claims worth up to $2.5 billion have been disqualified following missed KYC deadlines. This massive disqualification underscores the strict enforcement of Know Your Customer (KYC) rules as the collapsed crypto exchange navigates legal proceedings. The U.S. Bankruptcy Court confirmed on April 2nd that these rejected claims, totaling 392,000, are a direct result of users failing to meet the March 3 deadline for identity verification.