What's Going On? FTX Announces a Rare Move, Causing FTT Token to Surge Over 40%
Bankrupt exchange FTX announced that 98% of creditors will receive a 118% cash repayment, with disbursement starting as early as September.
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Bankrupt exchange FTX announced that 98% of creditors will receive a 118% cash repayment, with disbursement starting as early as September.
The announcement came through a letter submitted to New York federal court on Friday.
Ripple Labs Singapore emerges as a major creditor in FTX bankruptcy with a significant $11.4 million claim, revealing complex ties in the cryptocurrency ecosystem.
FTX's bankruptcy plan raises critical valuation and repayment issues, leaving creditors and the crypto industry in limbo.
FTX 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.
Sam 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.
Recent 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.
The 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.
This crypto exchange presents a self-custodial solution that incorporates a multiparty computation technique, ensuring the utmost security for entrusted funds.
FTX initiates legal action against Bybit and associates in a $953 million asset recovery effort, amidst broader bankruptcy proceedings and ongoing efforts to reclaim funds.
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A crypto veteran recently fell victim to a scam, losing over 40 million MANEKI tokens (over SGD500K). Sharing the thievery process, he lamented his lapse in judgment but thanked the community for the support.
The decentralized social platform Friend.tech's token FRIEND has been continuously falling since its launch in May this year. In the past month alone, it has plummeted more than 56%. This has resulted in substantial losses for the well-known artist Machi Big Brother Huang Licheng, who repeatedly bought in, anticipating FRIEND to reach $10. Currently, his FRIEND holdings have an unrealized loss of $7.7 million.
South Korea's tightening regulations on NFTs and ongoing debates over crypto taxes reflect its cautious approach to nurturing the crypto industry while mitigating risks. However, its lag in spot crypto ETFs may hinder growth, though signs of progress, like the FSC's initiatives, offer hope for navigating this complex landscape.
DeFi researcher Chris Powers explores the new trend of "modular lending" in the lending sector, illustrating its potential in addressing market challenges and providing better services. This article, based on an article by Chris Powers, is compiled, translated, and written by BlockBeats.
Animoca Brands Chairman Yat Siu mentioned in an interview yesterday (7th) that Ethereum spot ETF issuers in Hong Kong are currently working to incorporate staking features into the Ethereum spot ETFs. The approval chance is expected to be very high. Can this change the sluggish state of Hong Kong's ETF market?
Binance founder Changpeng Zhao CZ started serving a 4-month prison sentence at the beginning of this month, becoming the wealthiest incarcerated individual in the U.S. His wealth surged dramatically due to the Binance Coin (BNB) reaching an all-time high in the past week.
Sam Altman has proposed that "computing power will become the new currency in the future." In the current AI hardware and software boom, it's crucial to understand this concept ahead of others to grasp the potential advancements in human technology and society.
Bitcoin leads investment activity, attracting over $1.97 billion in inflows, while Ethereum experiences its best performance since March, with nearly $70 million in inflows.
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