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 BTC production halving event is a major event in the encryption industry. This is the time for the rocket to switch. Once the switch is successful, the new first-stage rocket will push BTC farther and deeper into space.
JinseFinanceThere are two possibilities for the next market trend: external factors continue to dominate, and the efficacy of stimulants coincides with internal factors; two-headed bulls.
JinseFinanceDo Kwon, Terraform Labs co-founder facing SEC charges, requests trial postponement until mid-March due to challenges in Montenegro's extradition process. Kwon desires personal attendance at the trial, currently scheduled for January 29. The SEC charges relate to an alleged multi-billion dollar crypto-securities fraud.
Huang Bo3AC filed for bankruptcy last year because its investment assets were sold off in large quantities and suffered heavy losses.
JinseFinanceJinseFinanceKevin Rose, co-founder of Moonbirds creator Proof, said that his Ethereum wallet was “hacked” after valuable assets were swiped.
decryptHowever, some traders see increased volatility for tokens related to Kwon in the coming days.
Coindesk1Inch plans to expand into a largely untapped Asian market, but a lack of DeFi knowledge is preventing mass adoption
CointelegraphThe Sepolia testnet is the next testnet after Ropsten for a merged trial run, as its beacon chain is now live and ready to provide developers with valuable information to get to the real thing.
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