FTX Crypto Creditors Fight Claim That ‘Sam Coins’ Are Worthless

A small group of FTX Trading customers are demanding hundreds of millions of dollars from the bankrupt crypto firm, claiming that three digital tokens known as “Sam Coins” deserve a payout even though they are closely associated with convicted fraudster Sam Bankman-Fried.

Investors who hold tokens called Serum, MAPS and OXY are asking US Bankruptcy Judge John Dorsey to force FTX to raise the value of the crypto by overruling company experts who concluded the digital coins are nearly worthless. Before he gave up control of FTX, Bankman-Fried created Serum and cut deals to get control of the other two tokens, according to court papers.