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 BoThis crypto exchange presents a self-custodial solution that incorporates a multiparty computation technique, ensuring the utmost security for entrusted funds.
KikyoParaplegic tennis player Kevin Piette, outfitted with a robotic exoskeleton, participated in the Olympic torch relay.
Cheng YuanCoinbase announced that trading for Polymath (POLY) has been disabled.They suspended trading for Polymath (POLY) on December 5, 2023.
OliveDelio is suspending withdrawals on its platform following its exposure to Haru Invest, which previously halted its services.
cryptopotatoBybit and Swyftx are the latest victims of the spreading crypto contagion, with both firms announcing job cuts in the wake of FTX collapse.“
decryptThe low prices of cryptocurrencies have lowered crypto services platforms' income. As a result, it forced many crypto exchanges to ...
BitcoinistAustralian crypto exchange Swyftx highlighted inflation, a recession, and the bear market as the reasons behind the unfortunate lay-offs.
CointelegraphThe crypto exchange said it had $48 million in exposure with Babel Finance and $5 million with Celsius — both firms faced liquidity and insolvency issues, respectively.
CointelegraphCrypto CeFi lender Vauld has suspended "all withdrawals, transactions and deposits."
CointelegraphSpeaking to Cointelegraph on Wednesday, Swyftx co-CEO Ryan Parsons revealed that its long-term plans are to explore ways to offer trading between traditional and crypto asset classes.
CointelegraphSwyftx, one of Australia’s largest crypto exchanges, has become the first local exchange to offer users zero-fee yields on cryptocurrency deposits.
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