Chinese creditors affected by FTX’s latest legal maneuver are ramping up efforts to challenge the bankrupt exchange’s request to delay payouts to users in 49 jurisdictions with restrictive or uncertain crypto laws. The group is turning to US courts and regulators, raising concerns about fairness, transparency, and procedural integrity. Speaking with CryptoSlate, a Chinese creditor […]
The post Over 500 Chinese creditors challenge FTX over $470M payout freeze appeared first on CryptoSlate.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Celsius has accused Tether of improperly liquidating nearly 40,000 bitcoins in order to cover an outstanding loan while it was on the precipice of bankruptcy in 2022.
WazirX, once India’s largest crypto exchange by trading volume, has secured a crucial extension from Singapore’s High Court as it struggles to recover from a devastating $234 million hack and a year of growing user frustration. In a statement posted on social media, WazirX confirmed that the court will allow it to present new arguments […]
The post WazirX gains crucial extension to revive post-hack restructuring plan appeared first on CryptoSlate.
FTX’s bankruptcy lawyers have pushed back forcefully against a $1.53 billion claim filed by failed crypto hedge fund Three Arrows Capital (3AC), calling the demand “illogical” and warning that it would unfairly drain funds from FTX’s legitimate creditors. In new court documents submitted on June 20, FTX’s legal team asked a Delaware bankruptcy judge to […]
The post FTX fights back against 3AC’s ‘unreasonable and unsupportable’ $1.53B claim appeared first on CryptoSlate.
Alex Mashinsky, the former CEO of Celsius, has agreed to surrender all rights to assets tied to the collapsed crypto lender. According to newly filed court documents, Mashinsky and entities associated with him, including AM Ventures Holdings Inc., Koala1 LLC, and Koala3 LLC, will be excluded from any future distributions under the Celsius bankruptcy plan. The […]
The post Alex Mashinsky forfeits rights to Celsius assets amid ongoing bankruptcy process appeared first on CryptoSlate.
FTX, the bankrupt crypto exchange, has added Payoneer to its creditors’ repayment options, according to a June 10 statement. The new company would serve as an additional asset distribution channel, alongside BitGo and Kraken. Payoneer operates a global payments platform across more than 190 countries and territories. Under the agreement, Payoneer will help distribute funds […]
The post FTX continues to exclude Nigeria and China in remaining creditor repayments but includes Payoneer appeared first on CryptoSlate.
The country has been beefing up its crypto work as digital assets have soared in popularity.
Coinbase analysts believe that the $5 billion repayment round initiated by the FTX Recovery Trust could function as a significant injection of liquidity into digital asset markets, potentially influencing trading behavior and asset flows as funds reach affected creditors this week. The FTX Recovery Trust began distributing more than $5 billion in stablecoins on May […]
The post Coinbase says FTX repayments could become a $5B market injection appeared first on CryptoSlate.
BitGo has reportedly initiated the second phase of FTX’s repayment process, marking another milestone in the exchange’s long-awaited recovery effort. On May 27, FTX creditor Sunil Kavuri reported that user accounts had been credited through BitGo as part of the repayment rollout. However, these funds will remain locked from trading until May 30. He said: […]
The post BitGo advances FTX repayment amid rising phishing threats appeared first on CryptoSlate.
Strive Asset Management Firm has partnered with 117 Castell Advisory Group to acquire distressed Bitcoin claims, including those linked to the long-defunct Mt. Gox exchange. According to a May 20 filing with the US Securities and Exchange Commission (SEC), the firms will target claims that have received definitive legal rulings but are still awaiting distribution. […]
The post Strive eyes 75,000 distressed Bitcoin claims from bankrupt Mt. Gox estate for its reserves appeared first on CryptoSlate.
Binance has asked a US court to dismiss FTX’s $1.76 billion lawsuit, arguing that the case lacks jurisdiction and relies on unsupported allegations. The motion follows FTX’s attempt to claw back funds and blame Binance and its former CEO, Changpeng Zhao, for contributing to its collapse. However, Binance has rejected these claims, calling them speculative […]
The post Binance moves to quash FTX’s $1.8 billion lawsuit, dismisses allegations as speculative appeared first on CryptoSlate.
Genesis Global filed two new lawsuits against DCG and its executives for 'recklessly operating' subsidiary Genesis towards bankruptcy.
FTX Recovery Trust will begin distributing over $5 billion to creditors on May 30 as part of the company’s Chapter 11 Plan of Reorganization, according to a May 15 statement issued by the Trust. Holders of allowed claims in both Convenience and Non-Convenience Classes who have completed the required pre-distribution steps will receive the funds. […]
The post FTX creditors poised to receive $5B by May 30 in latest distribution round appeared first on CryptoSlate.
Backpack has officially opened the withdrawal window for former FTX EU customers, marking a major step in returning lost funds to the defunct exchange users across Europe. The claims process went live on May 12, following Backpack’s earlier acquisition of FTX’s European arm in January 2025. According to a notice on its website, the exchange […]
The post FTX EU victims can now withdraw trapped Euros via Backpack but crypto withdrawals remain blocked appeared first on CryptoSlate.
Bankrupt FTX has missed out on nearly half a billion dollars in potential profit after liquidating its early stake in Anysphere, the company behind the fast-rising AI code editor Cursor. The now-defunct crypto exchange, through its trading arm Alameda Research, had invested $200,000 in Anysphere during its 2022 seed round. However, bankruptcy managers sold the […]
The post FTX missed out on $500 million after selling Anysphere’s Cursor AI stake for just $200K appeared first on CryptoSlate.
FTX has launched new legal action against NFT marketplace NFT Star and AI platform Delysium, stepping up efforts to recover missing assets for its creditors. The bankrupt crypto exchange accuses both companies of failing to deliver tokens purchased under binding Simple Agreements for Future Tokens (SAFTs), a standard fundraising method crypto startups use before a […]
The post FTX pursues NFT Star and Delysium to recover millions in missing tokens appeared first on CryptoSlate.
NBA Champion Shaquille O’Neal has reached a confidential settlement with a group of investors who sued him over his role in promoting the now-defunct crypto exchange FTX. A court filing submitted on April 23 revealed that both parties have reached a proposed resolution and will now seek court approval to move forward. The agreement, signed […]
The post Shaquille O’Neal settles lawsuit over FTX endorsements amid ongoing bankruptcy drama appeared first on CryptoSlate.
The US Department of Justice (DOJ) has initiated a review of how victims of digital asset fraud are compensated, following concerns over outdated valuation methods. According to a recent internal DOJ memo, many investors affected by crypto platform collapses, such as FTX, Celsius, Voyager, Genesis, BlockFi, and Gemini Trust, have only received reimbursement based on […]
The post US DOJ reviews crypto compensation rules amid valuation concerns appeared first on CryptoSlate.
Bankrupt FTX has received court approval to reject creditor claims from users who failed to begin the Know Your Customer (KYC) process before March 3, 2025. The April 2 court filing includes 2,378 pages of invalidated claims, representing around 500,000 entries. The court order clearly disallows any claim listed that is not backed by KYC […]
The post FTX bankruptcy team rejects claims from non-compliant creditors amid KYC crackdown appeared first on CryptoSlate.
Backpack, which purchased FTX EU for $32.7 million in January, directed customers to complete the first step of KYC verification.
With a May 15 deadline looming, just 43% of non-U.S. customers have claimed their distributions.
Crypto exchange Backpack has officially launched the claims process for users of the now-defunct FTX EU platform, according to an April 1 statement. BackPack CEO Armani Ferrante said: “It’s been a long, complicated process with multiple parties, but we’re happy to finally open up identity verification for FTX EU customers on [our website.]” According to […]
The post Backpack begins identity verification to repay FTX EU claimants appeared first on CryptoSlate.
Payments to FTX’s largest creditors will start May 30, nearly three years after the exchange collapsed.
Terraform Labs, the bankrupt firm behind the failed TerraUSD (UST) stablecoin, has launched a crypto claims portal. This platform is designed to compensate users affected by the project’s dramatic crash in 2022. Creditors can submit claims between March 31 and April 30, 2025. Claims submitted after the deadline will not be considered. To file a […]
The post Terraform Labs launches claims portal for algorithmic UST stablecoin crash victims appeared first on CryptoSlate.
The Sei Foundation is exploring the acquisition of 23andMe, a bankrupt genetic testing company, with plans to bring its data infrastructure onto the Sei blockchain. In a statement released on March 27, the Foundation revealed that the acquisition would mark a significant step toward protecting genetic data through on-chain solutions. According to the Foundation: “We […]
The post Sei Foundation looks to acquire bankrupt 23andMe in major DeSci move appeared first on CryptoSlate.
Large movements in the past have occasionally preceded creditor repayments, which have a deadline set for this October.
Sen. Warren raised concerns over potential incoming SEC Chair Paul Atkins' ties to collapsed crypto exchange FTX in a letter on Sunday.
A US bankruptcy court has ruled in favor of Three Arrows Capital (3AC), allowing the failed crypto hedge fund to increase its claim against the collapsed exchange FTX to $1.53 billion. This decision significantly raises the initial $120 million claim sought by 3AC’s liquidators. Legal battle According to the March 13 court filing, 3AC’s liquidators […]
The post Three Arrows Capital wins court approval to expand FTX claim to $1.53B appeared first on CryptoSlate.
The ruling came despite FTX's argument that the motion to amend claims was untimely and would disrupt its reorganization plan.