Reuters: FTX clients file class-action lawsuit seeking declaration that digital assets held by the firm belong to clients

FTX clients have filed a class-action lawsuit against crypto exchange FTX and its former executives, including Sam Bankman-Fried, seeking a declaration that digital assets held by the firm belong to clients, Reuters reported. The proposed class, hoping to represent more than 1 million FTX customers in the U.S. and abroad, seeks to declare that traceable client assets are not FTX property. According to the complaint, the client also wants the court to make clear that property held in Alameda traceable to the client is not Alameda property. If the court determines that it is the property of FTX, then customers will seek a ruling that they have priority over other creditors for repayment.