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.
![image Miyuki](https://image.coinlive.com/24x24/cryptotwits-static/fd40efae039c8f6e22c6ac73b2efe899.png)
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.
Joseph Bankman and Barbara Fried said the lawsuit seeks to “capitalize on the sheer fact” they were the parents of the former FTX CEO.
Kevin O'Leary, Shark Tank investor, rejects spot Bitcoin ETFs, citing unnecessary fees. Acknowledges SEC approval's positive impact on institutions but doubts all 11 ETFs' survival, favoring major players.
Kevin O'Leary, entrepreneur and "Shark Tank" star, expresses skepticism about investing in Bitcoin ETFs due to concerns about fees, anticipating the survival of only major players' ETFs. O'Leary emphasizes the importance of regulatory approval for the crypto industry's progress.
Kevin O'Leary anticipates continued institutional interest in crypto despite uncertainties over the SEC's potential decision on spot bitcoin ETFs. He highlights ongoing catalysts driving institutional engagement in cryptocurrencies.
Renowned Shark Tank star, Kevin O’Leary, predicts a formidable challenger to crypto giant Binance. In an interview with Fox Business, O’Leary unveils M2, a new crypto exchange emerging from Abu Dhabi.
Deaton has revealed reasons why Judge Torres holds back on ruling the lawsuit.
Statistica Capital said that Signature knew that FTX customer funds were not segregated from Alameda funds.
The crypto bank shares has declined by more than 90%.
The metaverse is quickly becoming a part of everyday life. It has gone from a niche hobby patronized by mostly ...