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.
KikyoEthereum's Pectra hard fork introduces a groundbreaking social recovery feature, enhancing user security. However, concerns linger regarding the potential risks associated with delegated asset ownership.
WeiliangCryptocurrency hedge funds show resilience post-FTX collapse. Despite challenges, a positive shift is evident, with funds eyeing altcoins for 2024 success.
BerniceFTX settles with ex-executives over Embed acquisition claims, aiming to recover full investment amidst ongoing legal challenges and the shadow of its bankruptcy on the crypto market.
BerniceFollowing a security breach at NFT Trader, stolen BAYC and MAYC NFTs were quickly recovered, highlighting the need for improved security in the NFT space.
Huang BoCrypto hardware wallet manufacturer Ledger has unveiled 'Ledger Recovery', a new service allowing users to backup their recovery seed phrases. Despite the initial announcement, the crypto community remains critical, and the formal launch has not been well-received.
JasperBinance CEO Changpeng Zhao said the exchange will launch a crypto recovery fund to reduce the impact of the FTX collapse.
BeincryptoThe U.S. central bank is expected to again hike rates by 75 basis points on Wednesday.
CoindeskLaunching on the Polygon network, the LifeChain platform is intended to vastly reduce occurrences of fraud within the U.S healthcare system.
CointelegraphBitMEX — one of the oldest exchanges in the digital asset futures space — hopes the launch of a new spot market will help it attract retail investors amid a slump in cryptocurrency trading.
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