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.
KikyoIn San Francisco in 2021, every visitor to this West Coast city will find huge FTX advertisements everywhere in the core of the city, featuring Sam Bankman-Fried and his iconic hairstyle.
JinseFinanceGolden Finance launches the 2279th issue of the cryptocurrency and blockchain industry morning report "Golden Morning 8:00" to provide you with the latest and fastest digital currency and blockchain industry news.
JinseFinanceMore than 500 days after FTX filed for bankruptcy, the world will soon know whether former CEO Sam Bankman-Fried will still spend decades in prison or get a lighter sentence .
JinseFinanceJinseFinanceA deep dive into innovations, impact, and future prospects in Decentralised Finance (DeFi).
BitcoinworldFTX creditors have requested anonymity due to the perceived risk of fraud and theft associated with cryptocurrency.
BeincryptoLewis Kaplan, a senior judge of the United States District Court for the Southern District of New York, was appointed to take over the SBF case.
OthersBankman-Fried could have supposedly played a role in the crash of UST and LUNA.
cryptopotatoFrom lengthy tweets with cryptic poetry references to interviews, and more, now comes an internal letter that is not so "internal" anymore.
CatherineCrypto regulation is inevitable. That's not necessarily a bad thing, as regulatory clarity will free builders from worrying about government action while paving the way for more capital to enter the space.
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