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.
KikyoDeepMind's AI predicts structures for two million materials, revolutionising discovery and applications in batteries, solar panels, and computer chips.
Hui XinSequence Builder is built to address a particular pain point - eliminating the need for developers to make trade-offs between integrating web3 elements and focusing on game design.
DavinBinance innovates with the world's first triparty crypto arrangement, enhancing security for institutional investors while also transitioning away from its BUSD stablecoin.
YouQuanChainlink experiences a record spike in whale transactions, signaling positive momentum ahead of its Staking v0.2 update.
YouQuanCasio Computer Co., Ltd. has revealed plans to release 2,000 limited edition VIRTUAL G-SHOCK NFTs (non-fungible tokens) on 15 December, showcasing futuristic shock-resistant watches in a virtual realm. The move follows the September 2023 launch of the VIRTUAL G-SHOCK project aimed at engaging with Gen Z and new users in a virtual space.
JoyAmid SEC challenges and cryptocurrency disputes, Coinbase CEO Brian Armstrong calls for a stronger U.S. regulatory framework.
Hui XinNexo partners with Koinly to simplify crypto tax reporting for users, offering tailored tax forms and integrating with over 100 jurisdictions.
YouQuanBinance has announced a new campaign called "Crypto is better with Binance". The campaign will feature ten stories from Binance users around the world who have used crypto to improve their lives.
JoyCircle staunchly denies allegations of illicit financing and ties to Justin Sun, countering claims by the Campaign for Accountability amid broader cryptocurrency concerns.
Hui XinRollbit, combining an online casino and crypto exchange, achieves a $505M market cap and impressive $41M in monthly fee revenue, with its RLB token seeing a 70x return this year.
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