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.
KikyoSBF, FTX, Cengcheng SBF Popularity Let’s talk about the precautions for dancing with sharks. Golden Finance, I have been playing in the Bahamas my whole life, but I was finally dodged by a shark.
JinseFinanceThis article has sorted out the questions that Mankiw’s legal team is often asked by Web3 entrepreneurs during the investment and financing process. I hope it will be helpful to all Web3 entrepreneurs!
JinseFinanceIf the company wants to issue coins, are there any legal risks? If the company does not issue coins, is it okay to sell NFT? There is no written agreement signed with the current company. Salaries are paid in USDT and social security is paid by myself. What are the legal risks?
JinseFinanceThe crux of the matter is the tricks the Fed is playing under the table. The Fed's overt public operations and statements are a cover-up, while the real actions are behind the scenes. The combination of blindfolding and behind-the-scenes movements creates a complete magic effect.
JinseFinanceThe recent hacking of CertiK's X account highlights the escalating threat of phishing in the blockchain space, underscoring the need for heightened vigilance and robust security measures.
EdmundJinseFinanceLooking deeper into the catastrophe, we see its fragmented horror. Zooming in, we see the in-house psychiatrist prescribing doping to the designer
CointelegraphThe meltdown of Sam Bankman-Fried's crypto trading empire could not, and would not, have happened to a decentralized and transparent protocol.
CoindeskThe team said that they were unable to perform their work or process grants and have "fundamental questions" about the legitimacy and integrity of business operations.
CoindeskIn this article, we break down key factors and metrics to look out for when carrying out due diligence into a crypto project as well as how you can use Nansen to surface the signal and conduct due diligence.
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