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.
Launching later this year, the NFT platform dubbed Disney Pinnacle is poised to make its debut.
NFT creator Aurelien Michel, mastermind behind the Mutant Ape Planet collection, pleads guilty to wire fraud charges, becoming the first convicted for an NFT 'rug pull,' facing potential federal prison time and a $1.4 million forfeiture.
During the bull market, the exchange was valued at $14 Billion, but the valuation has halved since the collapse of 3AC.
These concerns were raised even as BlackRock is filing for a Bitcoin ETF on its own.
Unix Gaming's Game League, a $1 million crypto gaming tournament on Owned's blockchain platform, offers diverse gaming opportunities from Fortnite to Counter-Strike 2, inviting players to share moments for a shot at prizes until December 9.
Boyaa Interactive ventures into the crypto market with a $100 million investment, seamlessly combining gaming and finance in the Web3 era.
Reddit administrators are taking a step towards decentralisation by "renouncing the Moons contract" and concurrently initiating a token burn to reduce the overall supply.
First Deputy Chairman of the Committee on Information Policy, Information Technologies, and Communications Anton Tkachev highlighted that crypto could plat a pivotal role in evading sanctions.
While the beta mainnet is fully operational, trading rewards are not yet supported, and stability and interface quality improvements are expected during this testing phase.
Hong Kong gaming giant Boyaa Interactive invests $90 million in Bitcoin and Ethereum, entering the cryptocurrency market as part of its broader business diversification plans and embracing the digital revolution in the gaming industry.