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.
KikyoMarius VanDerWijden, a core developer at Ethereum’s upcoming Shanghai-Capella upgrade, reported a bug found on testnet Zhejiang.
BitcoinistIn this line, the developers are intended to release the Shanghai hard fork in March 2023.
FinboldAmidst preparations for the Ethereum Merge, ETC Group made a shocking announcement on Wednesday.
BitcoinistCryptocurrency has been growing in popularity all over the world. With more and more users trooping in to join the ...
BitcoinistThe Ethereum Merge to PoS is slated for the third week of September, eliminating PoW mining. Experts weigh in on how mining pools and miners would be impacted.
CointelegraphThe cryptocurrency market is currently one of the most lucrative industries and still, it is characteristically volatile. Since Bitcoin's unexpected ...
BitcoinistETH has gained 48% over the past week, leaving most of its crypto brethren behind — though it's still risky days ahead given the macroeconomic factors still at play.
CointelegraphThroughout history there have been doomsayers. That’s especially true in bear markets. Crypto prices are way oversold on the RSI ...
BitcoinistExamine how Polkadot's ecosystem and Substrate platform can be compared to Ethereum’s upcoming upgrade as the race toward Web3 gathers momentum.
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