FTX has unexpectedly changed its payout plans, allocating only 10-25% of recovered assets to crypto holders while setting aside $230 million for preferred shareholders. Many creditors are outraged, feeling blindsided by these revisions and frustrated that reimbursements are based on much lower asset prices from the time of bankruptcy.
JoyBankrupt exchange FTX announced that 98% of creditors will receive a 118% cash repayment, with disbursement starting as early as September.
MiyukiThe announcement came through a letter submitted to New York federal court on Friday.
AlexRipple Labs Singapore emerges as a major creditor in FTX bankruptcy with a significant $11.4 million claim, revealing complex ties in the cryptocurrency ecosystem.
BrianFTX's bankruptcy plan raises critical valuation and repayment issues, leaving creditors and the crypto industry in limbo.
KikyoFTX 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.
EdmundSam 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.
BerniceRecent 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.
Huang BoThe 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.
Cheng YuanThis crypto exchange presents a self-custodial solution that incorporates a multiparty computation technique, ensuring the utmost security for entrusted funds.
KikyoThe complaint alleges that Bankman-Fried's father is financing his criminal defense through an illicit loan from the company.
Coinlive Check out the Dapp industry highlights for May 2022.
CointelegraphAs a world class digital asset exchange, LBank continues to focus on providing its users quality projects to participate in. ...
BitcoinistAs a world class digital asset exchange, LBank continues to focus on providing its users quality projects to participate in. ...
BitcoinistAs a world class digital asset exchange, LBank continues to focus on providing its users quality projects to participate in. ...
BitcoinistINTERNET CITY, DUBAI, May. 10, 2022 – LBank Exchange, a global digital asset trading platform, will list OPSMEN on May ...
BitcoinistAs a world class digital asset exchange, LBank continues to focus on providing its users quality projects to participate in. ...
BitcoinistBitcoinistXiamen City kicked off the digital renminbi consumption week activity, and major banks and merchants actively cooperated to build digital renminbi usage scenarios throughout the chain to meet user consumption needs.
FtftxThe founder of the FTX exchange believes that with increased regulatory clarity around the world, institutional adoption in the crypto industry will increase.
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