What's Going On? FTX Announces a Rare Move, Causing FTT Token to Surge Over 40%
Bankrupt exchange FTX announced that 98% of creditors will receive a 118% cash repayment, with disbursement starting as early as September.
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Bankrupt exchange FTX announced that 98% of creditors will receive a 118% cash repayment, with disbursement starting as early as September.
The announcement came through a letter submitted to New York federal court on Friday.
Ripple Labs Singapore emerges as a major creditor in FTX bankruptcy with a significant $11.4 million claim, revealing complex ties in the cryptocurrency ecosystem.
FTX's bankruptcy plan raises critical valuation and repayment issues, leaving creditors and the crypto industry in limbo.
FTX Judge's intervention sparks hope for quicker customer fund recovery in the bankruptcy case, yet uncertainties persist, with IRS cautioned about potentially lower-than-expected recoveries amid complex proceedings.
Sam Bankman-Fried's prison experience, marked by unconventional currency use and alleged challenges to living conditions, adds an unexpected chapter to his legal saga. As the legal proceedings continue, the controversy surrounding SBF's actions inside the prison walls raises questions about the complexities of adapting to a new reality while facing serious legal consequences.
Recent court hearings disclosed that the bankrupt crypto exchange FTX utilized customer funds to repurchase its entire stake held by competitor Binance. The revelation came as part of ongoing investigations related to the trial of Sam Bankman-Fried, with the U.S. Department of Justice hiring an accounting professor to trace the funds between Alameda and FTX.
The estate of bankrupt crypto firm FTX has filed a lawsuit against Bybit, seeking to recover $953 million transferred to Bybit's investment arm. The legal complaint alleges misappropriation of funds and points to VIP status and questionable withdrawals leading up to FTX's bankruptcy filing.
This crypto exchange presents a self-custodial solution that incorporates a multiparty computation technique, ensuring the utmost security for entrusted funds.
FTX initiates legal action against Bybit and associates in a $953 million asset recovery effort, amidst broader bankruptcy proceedings and ongoing efforts to reclaim funds.
PancakeSwap executes a significant token burn, eliminating 8.7 million CAKE tokens worth $25 million, aligning with its long-term DeFi stability vision. This strategic move involves community participation, reducing the token supply and potentially driving up CAKE's value beyond $100 million.
XRP crosses five million active accounts, indicating increased trust and market growth.
CleanSpark plans to acquire 160,000 Bitcoin miners by 2024, aiming to increase its hash rate by 400% and prepare for future market fluctuations.
ProBit Global lists LIMO, enhancing Limoverse's health-focused blockchain ecosystem's reach and potential.
Ripple sponsors DEC24, joining forces with leading financial experts, signifying its influential role in digital currency's future.
The proposed XRP ETF, potentially launching this year with BlackRock at the helm, reflects the growing integration of cryptocurrencies into mainstream finance, awaiting crucial legal verdicts.
ImToken is the entity behind the software cryptocurrency wallet and the hardware crypto wallet imKey.
MAS provided the exchange with initial in-principal approval in October 2023, and Upbit has been actively engaged in Singapore since 2018.
The newly acquired funds will play a pivotal role in expediting the development of Quora's AI chatbot platform, Poe.
The U.S. Securities and Exchange Commission denied Bitcoin ETF approval after an alleged hack compromised its social media account. The incident triggered a surge and subsequent drop in Bitcoin prices, raising concerns about cybersecurity and prompting calls for increased accountability and security measures in regulatory bodies.