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. […]
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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 […]
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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. […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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The ruling came despite FTX's argument that the motion to amend claims was untimely and would disrupt its reorganization plan.
Defunct FTX and its affiliate, Alameda Research, have unstaked and transferred 185,345 Solana (SOL), valued at $22.9 million, to 38 wallets within the past day, according to blockchain analytics platform SpotOnChain. Blockchain intelligence firm Arkham Intelligence corroborated the development and reported that the recipient wallets, which had previously received assets from staking addresses, now collectively […]
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Kraken reportedly confirmed that the second phase of FTX creditor repayments will start on May 30. On March 6, FTX creditors’ representative Sunil Kavuri shared a screenshot of an email allegedly from Kraken. The email indicated that the exchange would initiate another round of repayments in May for customers affected by FTX’s 2022 collapse. According […]
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A US federal court has postponed a key hearing in the case against Terraform Labs co-founder Do Kwon after prosecutors submitted an extensive amount of new evidence, significantly broadening the case. According to court filings, the status conference, originally scheduled for March 10 in the Southern District of New York, has been pushed to April […]
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Sunil Kavuri, a representative of the FTX Creditors’ group, revealed that the bankrupt crypto exchange is exploring ways to compensate creditors in multiple countries, including Russia, China, Egypt, Nigeria, and Ukraine. According to Kavuri, creditors from these regions are currently excluded from ongoing distributions despite making up a significant portion of FTX’s user base. For […]
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Sam Bankman-Fried, the convicted founder of the collapsed FTX exchange, maintains his innocence, claiming political bias influenced his prosecution. In an interview with The New York Sun, he argued that his case was unfairly handled and suggested that his legal troubles stemmed from his shifting political stance. This interview emerged less than a few days […]
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Creditors of the defunct crypto exchange FTX have begun receiving their initial payouts in their Kraken accounts, marking a major milestone in the company’s ongoing bankruptcy proceedings. Claimants with approved amounts under $50,000 are receiving full reimbursements, plus 9% annual interest accrued since FTX filed for Chapter 11 bankruptcy in November 2022. Screenshots shared online […]
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The payments are being distributed in U.S. dollars through BitGo and Kraken.
An initial batch of customers of bankrupt exchange FTX are beginning to receive their funds over the next few days.
A phishing attack is targeting FTX creditors just days before the bankrupt exchange begins its long-awaited payout process. On Feb. 16, FTX creditor Sunil Kavuri sounded the alarm on X about a potential data leak, warning that scammers are now sending phishing emails to creditors. According to Kavuri, the leak likely stems from FTX or […]
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Lawyers for former Celsius Network CEO Alex Mashinsky have asked a federal judge to postpone his sentencing by one month, citing the complexities of the case and the volume of material requiring review, according to a Feb. 5 court filing. Mashinsky, who pleaded guilty in his fraud case, is scheduled to be sentenced on April […]
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