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.
KikyoA war of words is taking place on CryptoX as Hilary Clinton launches an attack on Bitcoin (BTC), prompting comments from Mike Novogratz.
JinseFinanceGaucho Holdings, amidst Argentina's political shifts, prepares for growth with advisors Doug Casey and Michael Koh. The luxury-focused company anticipates economic opportunities, aligning with the recent election of libertarian President Javiar Milei.
BerniceARAX Holdings' acquisition of The Nemesis signifies a strategic leap into the evolving metaverse landscape. The collaboration is poised to redefine digital interactions, offering potential economic benefits and expanding ARAX's influence within the digital asset management domain.
Cheng YuanIn content creation, balancing perplexity, burstiness, and predictability cultivates engaging and dynamic narratives, fostering an immersive reader experience.
BitcoinworldThe company has also named Leon Marshall as its Europe CEO.
ClementKennedy's endorsements, including one from Jack Dorsey, highlight his prominence as a cryptocurrency advocate in the presidential race.
BeincryptoAlameda's CEO offered to buy Binance's FTT token holdings for $22 apiece.
OthersThe battle for supremacy among crypto exchanges has often come down to the amount of bitcoin that they hold. This ...
BitcoinistBitcoin and altcoins fell sharply in the first quarter, partly due to a shift in central bank policy that sparked a sell-off.
CointelegraphBitcoin and altcoins declined sharply in the first quarter in a selloff that was partly triggered by a shift in central bank policy.
Cointelegraph