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.
KikyoJavier Milei assumes Argentina's presidency, promising radical economic reform amidst a severe crisis, reflecting the nation's hope for a transformative libertarian approach.
YouQuanTaiwan's central bank wraps up wholesale CBDC study, eyes cautious implementation in the era of 'Banking 4.0'.
Hui XinEurope's Artificial Intelligence Act marks a historic step, introducing stringent regulations for ethical and responsible AI usage, balancing innovation with fundamental rights protection.
YouQuanHTX, the digital-asset trading platform associated with industry figure Justin Sun, witnessed a considerable $258 million net outflow following its reactivation after a significant security breach. Data from DefiLlama between November 25 and December 10 showcased the funds departing the exchange, signifying unease among some clients due to the prior security incident. HTX encountered a $30 million loss in crypto tokens during the breach, prompting temporary suspension of withdrawals and deposits as a precautionary measure.
Joy3.6 million, or 6% of the total supply of 60 million BCUT tokens will be offered at a rate of 0.055 USDT per token.
BrianGraphika's report reveals a 2,408% rise in AI undressing, sparking global concerns and calls for regulatory action against synthetic explicit content.
Hui XinThe European Union (EU) achieved a breakthrough on the AI Act, establishing a comprehensive legal framework governing the use of artificial intelligence within its jurisdictions. This pivotal agreement aims to regulate AI's deployment across various sectors and sets distinctive guidelines for different categories of AI systems.
JoyChina's Central Bank is reducing US dollar holdings, a strategic shift to strengthen the Yuan and challenge the dollar's global dominance in a move that could reshape international financial power dynamics.
YouQuanDespite a $450 million market cap and signs of a slowdown, trading activity remains robust.
BrianThailand rises as a crypto hub with strong adoption and institutional support, surpassing traditional stock investments.
Hui Xin