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.
SafeMoon files for bankruptcy amid fraud charges, leading to a significant drop in its cryptocurrency value.
The company had previously launched a new stablecoin known as PayPal USD
Fidelity, one of the largest asset managers in the world, is reportedly preparing to submit its filing for a spot ...
The company has submitted a pre-registration undertaking with regulators.
Tesla lost over $140 million betting on Bitcoin last year, according to a Monday filing with the U.S. Securities and Exchange Commission.
BlockFi is the latest crypto firm to file for bankruptcy following the collapse of Sam Bankman-Fried's crypto empire.
Before its collapse, FTX made big bets on sport to raise its profile, especially in the United States.
The filing detailed the hiring of new directors and petitions made by FTX about creditors.
Researchers documented $515 million in suspicious transfers from the cryptocurrency exchange.
An unnamed source told CNBC that the company plans to file the bankruptcy paperwork "imminently."