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.
KikyoJoseph Bankman and Barbara Fried said the lawsuit seeks to “capitalize on the sheer fact” they were the parents of the former FTX CEO.
ZoeyKevin O'Leary, Shark Tank investor, rejects spot Bitcoin ETFs, citing unnecessary fees. Acknowledges SEC approval's positive impact on institutions but doubts all 11 ETFs' survival, favoring major players.
Xu LinKevin O'Leary, entrepreneur and "Shark Tank" star, expresses skepticism about investing in Bitcoin ETFs due to concerns about fees, anticipating the survival of only major players' ETFs. O'Leary emphasizes the importance of regulatory approval for the crypto industry's progress.
Xu LinKevin O'Leary anticipates continued institutional interest in crypto despite uncertainties over the SEC's potential decision on spot bitcoin ETFs. He highlights ongoing catalysts driving institutional engagement in cryptocurrencies.
Xu LinRenowned Shark Tank star, Kevin O’Leary, predicts a formidable challenger to crypto giant Binance. In an interview with Fox Business, O’Leary unveils M2, a new crypto exchange emerging from Abu Dhabi.
AaronDeaton has revealed reasons why Judge Torres holds back on ruling the lawsuit.
BitcoinistStatistica Capital said that Signature knew that FTX customer funds were not segregated from Alameda funds.
BeincryptoThe crypto bank shares has declined by more than 90%.
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Coinlive The metaverse is quickly becoming a part of everyday life. It has gone from a niche hobby patronized by mostly ...
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