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.
KikyoAlexBinance has responded to the U.S. Commodity Futures Trading Commission (CFTC) in a court filing, asserting that the CFTC's attempt to regulate global cryptocurrency activities goes beyond its jurisdiction.
JasperThe heightened US restrictions on AI chips are impacting not just China's innovation but also the European Union.
Hui XinInjective's collaboration with Google Cloud opens a new chapter in Web3 finance by integrating its blockchain data into BigQuery. This alliance promises to accelerate mainstream adoption of decentralised technologies.
YouQuanTottenham Hotspur is based in White Hart Lane, North London. Reports by Socios reveal that their ecosystem has disbursed over $400 million to the global sports industry, nurturing increased fan engagement and interaction.
BrianMastercard believes that inincorporating a payments card into wallet providers' offerings can significantly boost the number of active users
AlexCrypto wallets serve as the digital equivalents of traditional bank accounts, but it is the undeniable truth that using a crypto wallet is a double-edged sword.
CatherinePurcell will be replaced by Rich Hauschild, former COO of iTrustCapital, while Purcell continues serving as a board member of Fortress' parent company.
AlexAs Argentina's presidential election unfolds, second-place candidate Javier Milei garnered 30% of the initial round votes, closely following Sergio Massa's 37% lead.
JasperCardano, the proof-of-stake platform founded in September 2017 by Ethereum co-founder Charles Hoskinson, has made significant strides in the world of blockchain and NFTs.
Aaron