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.
KikyoCelsius initiated a $125 million ETH transfer to repay creditors, allocating $95.5 million to Coinbase. FTX and Alameda transferred $28 million in crypto for creditor repayment efforts.
EdmundFTX and Alameda Research strategically offloaded assets during the recent Bitcoin ETF surge, redirecting $28.2 million to prominent exchanges. Despite this move, they continue to hold substantial EVM assets, currently exceeding $1.10 billion.
Cheng YuanEthereum wallet of Alameda Research receives $6 million in Tether and $4.5 million in USD Coin.
BeincryptoThe messy FTX narrative took an intriguing turn on Tuesday when Alameda Research slapped Voyager Digital with a lawsuit.
BitcoinistThe report differs from the latest redacted version, but BlockFi claims it has always been transparent.
BeincryptoThe bankrupt crypto lender’s new CEO told the judge Celsius Mining has approximately 40,000 mining rigs.
CoindeskThe FTX Future Fund team issued an open letter stating that “the team has collectively resigned".
CatherineAlameda Research is on thin ice if we’re to believe the latest report.
BitcoinistA bankruptcy court has granted Voyager Digital’s request that Alameda Research repay a $200 million loan in cryptocurrencies.
BeincryptoBitcoinist