How To Vote on the FTX Plan
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- Опубликовано: 20 сен 2024
- In this video, I'm going over the FTX voting ballot
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Disclaimer: Nothing said in this video should be interpreted as legal or financial advice.
#ftx #celsiusnetwork #sambankmanfried
535 views at this moment and 64 likes???? WTF guys, it takes 1 second to click the like icon and show your appreciation. Aaron works hard bringing us all this info and updates. Thanx Aaron, you rock!!!! 😎
Thanks dude! Always a supporter 🙏
Aaron thanks so much for taking the time to do this walkthru, we'd be lost without you man
@@blitzio happy to help.
what are the updates for voting for the bahamas or usa settlements for no US residents?, now the planned support agreements info is out?
Thank you so much. You have help me so much. I felt so confused about this whole thing.
I have received alot of ballots to vote.
I have literally 4 different types of things I'm involved in.
I was heavily invested and this has helped clear alot up. Your a great person thank you.
Really happy to help!
Thanks Aaron. I was confused about the third-party release and was slightly hesitant about the other items as well.
Thanks for the update! Will be great if you can also make a quick video once the bahamian plan is out 🙏
@@weiluntan4077 for sure :)
2nd that.
Aaron Bennett, hello. Please answer about the FTX voting. It is very necessary, there is less time left, we need to vote.1) Item 1. The Bahamas Opt-In Election. If I chose a process in the USA, do I not need to put a flag here? 2) Item 8. Third-Party Release. By checking this box, you elect to OPT OUT OF the Third-Party Release. Did I understand correctly that you recommend not to put a flag here? Please respond as soon as possible, this is very important.
Yes I really wonder these 2
anyone has any idea I am not able to find any final decision about this.
@@burakozklc1314 Item 8. Third-Party Release I applied and did not set this flag as recommended by the author of the video
It is now after August 2...Will there be a new video? Thanks
Thanks, much needed information which is hard to find. Explains a document which has been made deliberately/unnecessarily complicated. (I did a law degree and could not understand much of it.) Thanks again.
Glad I could help. It's insanely confusing!
U deserve a lot more subscribers than u currently have, thanks so much for all your help!!!!! I LOVE YOUU
Thanks 🙏
Seriously, 20-30 percent tax? I do not know where to write a comment on why I rejected the plan. 1) My deposit is money after paying all taxes, I'm not going to pay taxes on it again to someone... 2) I cannot receive US dollars in cash in my country, I want to receive USDT to my address on the exchange. Why do they promise to refund 118% if with taxes 20-30% of this amount, the amount will be less than my deposit. This is robbery...
That's why I sold my claim for 95%
Where did you find information about this 20-30% tax??
@@basel2626 where can you sell it tho
@@basel2626 how? where?
@@basel2626where can we sell it ?
Amazing content. Patient explanation and right to the point. Thanks.
Thank you :)
Thanks for the help! I really appreciate it, please keep us updated on this topic. 🙏🏼
Will do!
When the Plan Supplement comes in, another vid please. I know you will. Again thx Aaron.
I will.
@@abennettthanks for all you do Aaron!
Please make a video with more information about the Bahamas process, and the differences with the US. Thanks for the videos!!
You are the best, Aaron! Many many thanks for all the information, I'm even gonna miss you when all this have finished😅😂
Hi Ariel. Thank you! I'm not planning on going anywhere, so no need to leave lol
Thank you Aaron. Just what I needed. Much appreciated.
I'd have drunk before going to vote. Thanks for this reminder! 😅🍻
😆
Regarding the 3rd party release, it seems in the 5A/7A claims, you will click to 'opt out' (meaning you can sue them), but on non voting claims, the option to vote is the other way around, so if you click is opt-in? This is confusing at least!
this video was SO helpful! sharing with everyone i know. thank you!
So glad!
thank you so much for the informative video mate!
You're welcome!
Thank God Aaron did this : )
🙌🙌🙌
Hi @Aaron..Thanks for the video...I missed the deadline to vote and my claim is
Purple & N Hall on X have said today on X that the Independent Examiner could subpoena S&C so how could you possibly vote when you don’t have all the information to hand at the moment.
Thanks for the video. It’s helpful.
Yes, I read that. Unfortunately they haven't pushed back the voting deadline. But I hear you. Not good.
Hi Aaron,I cant find any info on the plan supplement which was to be released on Aug 2nd. Please advise.
Thanks very much Aaron, it's super helpful! 😆
Thanks for your videos, very helpful for people not very aware of the US process... In the non voting part, the item 1 Amount of Claims, what should I put?
Since you can’t vote I believe you’d leave that blank. The non voting ballot is just for releases which doesn’t seem to matter much.
Wow... I'm so totally lost with this claim. Thank you so much for the updates and explanation. I still don't get it what to vote for. What I still don't get is: We all see the balanaces for our accounts (type of Coins + there amounts), so it seems all the customer data are still there. Why is it not possible to reactivate the FTX platform so that everyone can just sell or transfere their cryptos/ fiats. According to the claim I just get ~5k back. But actully I just want to have my coins back (e.g. 80 SOL which are still sitting there. Approx value >11K). What is happening with all those coins? Are they lost? Somehow I doubt that.
Creditors have been fighting for property rights for over a year. At this point, you just have your claim.
What happens if I don't vote? Does this mean that my Claim expires?
Would you opt in the bahamas if you were in europe?
Most are going to wait until August 2nd when we get more info. From what I’ve been hearing, it’s still such a toss up. But if there’s more clarity on tax withholding and also usdc payments through the Bahamas, some may decide. I’d wait though.
Thanks a lot for the explanation!
Welcome!
Thank you very much. Really kind of you 🙂👍 i just subscribed your channel
Thanks and welcome
Thank you for the update !!
Very welcome! Thanks 🙏
What happens if you don't vote?
Voting isn’t required. I’d still vote though.
On the item 3: Voting Amount
This is what I see :
Scheduled amount: Contingent, Unliquidated
Voting Amount:$1946.00
Then when I click next to go "Stipulated Amount for Voting, Allowance and Distribution."
I see
Stipulated Amount of your Class 7B U.S. Convenience Claim for Voting, Allowance and Distribution: $0
Should I still vote?
Thank you for putting this video, is there any update since its already 6th august?
Thanks for sharing. Would love for you to upload an update video after all the supplements are released! Great work🎉
I definitely will.
very helpful video, thank you!
Glad it was helpful!
Thankyou for this video!
You're so welcome!
Thanks so much for this informative video
Very welcome!
Great info. Should one have received a ballot with unique ID by now ? (August 7th)
yes
can you explain more about the ftx-class 13-18
my scheduled claim seems so low when I compare with market value at the moment???
Thank you for your work🙏🏻
Very welcome!!
Did the plan supplement get issued at the start of August as expected?
Yes. New vid on it.
Why my scheduled amount is 199,75 while my voting is 7278,96? my portfolio was only build on stablecoin. This could be the reason?
The amount indicated it's only about crypto assets or total? In my case I see only the amount about crypto without FIAT...
Great question. I don't know the answer to that.
When I didn't vote on time? I can't get my money back?
voting is optional so you're fine.
Shows my scheduled amount as $195 but my voting amount as $795.
I'm confusing on what I'll be receiving.
*confused
Check my most recent FTX voting video. I cover this.
Is there a date to ftx finally pay?
They're saying 60 days after the confirmation they'll pay those under $50,000.
I think I will forget the Bahamas process...
...seems I can only get less, not more ...and it complicates things
its true or its just opinion ?
Smarter people than myself aren’t sure if it’ll be any better. There’s less info and more confusing.
Do you have any information about the Witholding tax for international creditors ??
I’ll cover that in a future video soon.
What happens when you miss the deadline for voting?
nothing. its optional. ur fine.
@@abennett Thank you!
My claim is only a few hundred dollars, but I also get the option to drop from class 6A to Class 7C convenience claim. I assume there is no downside to accept the convenience claim? (International creditor here)
Hm. That's odd. Seems like a mistake on their end. Not sure what I'd do.
Can’t we just get crypto tokens (USDT) etc ?
All this is way over my head. What happens if I don’t vote ? And do I have to vote to get my claim amount ?
I have received the email from ftx and asking to vote and i have two options. I am non us resident, so please advise me which one is suitable for me.
Option 1: Participate in the Bahamas Process
Option 2: Withdraw Bahamas Proof-of-Debt
I'm waiting on the plan supplement to know more about the bahamas process. That should come out next week.
Hi Aaron, I live in the Netherlands and actually get physical letters instead of the emails. I am a bit concerned about if there any costs attachted to this and have tried to email them on completely stopping my claim (I had only a couple hundred of dollars in my ftx account) but have not been able to reach them. Would you maybe know what is the best way to stop my claim? Also, am I in risk of it costing me money?
I don't understand what you mean by stopping your claim. Feel free to message me on twitter.
Hey Aaron,
Was wondering if what can be done if I missed the 'Proof of Claim' submission deadline?
Nevertheless, thanks for the update.
@@dextan737 if you got a voting ballot I think you’re good.
@@abennett Thanks for the prompt reply Aaron!
If I reject the plan and the majority accepts the plan what means that for? Does it only mean i am in the same boat and will only get the amount of money which is mentioned in the voting process or will I not get any money because I rejcted the paln? Sorry for that kind of question but I am not a native speaker and it is really hard to understand all that written stuff...
If you reject but the plan passes, you’ll be included like everyone else to get ur money.
Hi Aaron, would be great if you had any understanding on the 30% withholding tax for international customers. Wondering if it is better to sell my claim.Thanks
I’ll try to cover that. I believe that’s still a thing but the plan supplement may confirm that.
Hi Aaron, my plan class in the E-ballot platform is empty after i key in the ID and name ? do you know what it means ?
I don't...
Hello Aaron, thank you for your work.
Do you know the difference between 6A and 7A?
I would like to vote to 7A and I see so much claim's value, I don't understand why I have an other claim (6A) less than 1 dollar. Do you suggest to vote also the 6A Claim or is it enough the Convenience Claim 7A?
Thank you again for your work
You can vote for all your claims. Not sure why you'd have $1 there.
1:04 STOP self-underestimate.
You are on the top tier, not on the bottom.
Okay?
They suggest in their email to consult a lawyer. I just want to follow the process, get some of the money back and leave FTX behind as you also said it. Would it still be wise / helpful to consult a lawyer?
@@benstiller252 That isn’t necessary in my opinion. Even without voting you’d still have your claim amount.
@@abennett yes, that’s what I thought as well. Thanks for the confirmation and very quick response 🫶
I m from Australia didn't receive any email regarding voting...???
If I reject the plan because i want my coins instead of the mentioned amount of FIAT money in ITEM 4 should i check the box in ITEM 4 or not?
Totally your call.
I was on vacation I didn`t vote what does this means now?
Voting is optional so you'll still get what's owed to you.
What happened to the plan supplement on August 2 and the disclosure statement on August 6?
Thanks
Yeah, video prob tomorrow.
@@abennett waiting for it. thank you sir
can someone say what happens if we dont take any action to vote on the plan? does it means it will be automatically voted "Yes" to the plan?
Correct
I think I missed a beat, I received a email to submit a claim before august 16th
Submit your vote before August 16th. That’s what I’m talking about here.
Please i missed step 5 (View Your Proof of Claim Status). What do i do please ?
hello,I would like to know
Because I didn't submit a Proof of Claim Status in the US last year and I've heard that non-US residents may be taxed 21%-30%, I recently saw that compensation will begin and came back to handle it.
I want to ask, if I now change to Bahamian compensation, will I still need to pay taxes? Or would it be better to sell the claim directly online to FTX Creditor, even though it might need to be sold at a 20% discount?
Unsure about the tax withholding. Selling is totally your decision.
Hello what happens if I don't vote will I lose the ability to withdraw my money ?
No. Voting doesn't have an influence on that. Feel free to ask www.ftxclaims.com/ the same question.
thank's a lot!
You're welcome!
@@abennett I am italian and don't understand so much a lot of e-mail that I recived form most address.. some legit some not. so your work is very important.
Does anyone know how to correct a claim this late in the process? It seems spot USD lending is not in my claim (around 40% of my balance lost), I've sent a correction to an email address but to no avail..
Thanks for your info tho!
Hello, I need guidance, I had not claimed through the portal before the deadline however on march 30, 2023 I received a unique code to my email address. Can i still get my claim or can i sell it please
So for step 6 if someone has around $5,000 then you can accept the convenience class since it's not more than $50,000. Is that right?
Incorrect. If your claim is already below $50,000 (like the example in my video) then you don’t have the option to drop down into the convenience class. The screenshot I shared of Tiffany’s video shows that a $50k+ claim has the option to drop down.
@@abennett Thanks for the reply. Oddly enough I have below $50,000 but I received the Class 5A ballot so I have the same steps just like in Tiffany's video
What if you are outside of the 90-days period, but don't OPT in for the third-party releases? Does that have any negative effects? I'm only entitled to OPT in for the releases and not allowed to vote.
From what I've heard, opting out won't give them the ability to sue you, so if that's what you wanna do, you can. Not financial advice :)
can you explain about bahamas process??
I will if I hear more concrete info. No one really knows.
Are you obligated to vote or is it optional
Optional
mine seems 7A so is it ok to accept it?
Is there any information on the money that FTX owes Blockfi? Im a creditor in Blockfi bankruptcy & have not seen any updates for a few months now
There will definitely be a substantial second payment to blockfi creditors. But nothing you need to do.
So the voting amount is not necessarily the amount you are eligible for? As my "Scheduled Claim" on claims dot ftx is vastly higher than the voting amount.
Interesting. Not sure why that’d be.
I am confused as to the vote. Can we vote against the plan (i think we should be paid in coins) but then get paid according to what the majority voted? Of if i vote against, it means other creditors will be paid before me with the proposed plan?
First question - yes. What you vote plays into a universal decision of whether the plan will be approved or not. Second - No. The plan will be approved or not approved. Kinda like voting for a public official.
now i know how to vote. is there a video that explains to me what im voting on?
Whether you like their plan.
@@abennett The thing is I dont understand the plan :D
Iteam 4 in my case is 100 usd, but i only had 15$ in ftx, idk if to complain
I wouldn't lol
@@abennett yes fuck them they were so bad with us
So is there a point to submitting a class 13-18 claim if the vote doesn't count?
I have FTT, and item one requires me to enter the value of my FTT in USD, what's that about?
In my opinion, no.
Hello. They say they will refund the money only in cash. How can I get money if I do not live in the USA?
We aren't 100% sure. Probably a wire transfer or stablecoins.
I am in Class 5A, living in Korea as a Korean. Due to U.S. tax issues, could the Bahamas be a better option for me? Despite Korea having the most victims, there's almost no information, so many people are suffering. Should I wait until August 2nd? Thank you very much.
I'd wait until August 2nd.
I am Liquid Exchange customer, why my scheduled claim is 0 after voting?
Try asking here: www.ftxclaims.com/
@@abennett, thanks😊
My Claim is 3600 Dollar but if i go into the Convenience claim it only shows 200 Dollar. Do you know why?
You’re already in the CC.
If my claim wis basicly zero (dust) that I managed to withdraw my 100 or so USD from ftx just a few days prior to them going under and I do not wish to make a claim what will happen? Do I need to do anything? I dont wish to spend time on this for a few cents.
If it were me, I'd just do nothing. You don't have a way to vote anyway, since your claim is under $10.
@@abennett Thank you so much for the response!!!
I keep getting emails that my claim is verified and that i now can widraw my money, i guese this is a scam right? I did made a claim so im really confused hear, sounds like everything js still going on and it wil take way more time before we can widraw our money right?
It’s a scam
@@abennett thanks for your reply!
I only have the “13-18” and apparently I don't have the right to vote, is that normal?
Yeah could be, if you had less than $10 in there or just held FTT.
@@abennett I have over 2,000
I still haven't received the email, what can I do Aaron?
Id wait a week and then email or call them. On the UCC twitter post in the video there is an email and a phone number.
❤
I opted for decision A by mistake. How can I modify it? And if I stay on it, won't I get any claims?
You just submit your ballot again. The last time you vote is the one that counts.
@@abennett the concern being that I have no other options available... There's only one choice, which is apparently this one for ftx-class13-18
@@sebastiencampoy5564 And you’re sure you had a claim over $10 and had not just FTT?
@@sebastiencampoy5564 find me on Twitter if you’d like.
Didnt get any email like this, what can i do?
The FTX UCC Twitter post I shared has an email and a phone number. I’d reach out.
FTX EU customers cannot vote is that correct?
@@GidoTrader I believe you’re correct.