The US Department of Justice (DOJ) filed a civil forfeiture complaint to seize approximately $16 million in assets from a Binance account connected to an FTX bribery case, according to a Nov. 12 court filing. The Binance account, created in November 2023, contains various digital assets, including Internet Computer (ICP), Avalanche (AVAX), Ripple (XRP), Cardano […]
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The exchange’s creditors haven’t been made whole despite a judge approving a plan, and sentencing for former executives is nearing an end.
The filing alleges that FTX was already insolvent and the FTT tokens used in a share repurchase transaction were worthless, and therefore the transfer should be classed as fraudulent.
Bankrupt crypto exchange FTX has filed a lawsuit against Binance and its former CEO, Changpeng Zhao, seeking to reclaim approximately $1.8 billion. According to a Nov. 10 court filing, FTX alleges a complex series of actions that contributed to its financial downfall, placing Binance’s early involvement and Zhao’s actions in the spotlight. So, through this […]
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FTX and Alameda’s “aggressive legal strategy” highlights the complexity of their financial issues after suing over 20 entities for funds, according to blockchain experts.
Alameda Research has filed complaints against crypto exchange KuCoin and Crypto.com to recover millions in locked funds as FTX prepares to repay users.
Bankrupt FTX has filed a lawsuit to recover at least $11 million held in a Crypto.com account linked to its sister company, Alameda Research, according to a Nov. 8 filing. FTX alleges that before filing for bankruptcy, Alameda held an account at Crypto.com registered under the name Ka Yu Tin, also known as Nicole Tin. […]
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Bankrupt and now defunct BlockFi has entered into a settlement agreeing to the license revocation and to cease unsafe practices.
The bankrupt FTX exchange has filed a lawsuit against Ryan Salame, the former co-CEO of its Bahamian subsidiary, seeking to recover approximately $98.8 million in cash and crypto, according to a Nov. 4 court filing. The failed firm accuses Salame of knowingly assisting other executives—most notably, founder Sam Bankman-Fried—in breaching fiduciary duties and misappropriating customer […]
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Mt. Gox, the defunct crypto exchange, has transferred more than $2 billion worth of Bitcoin into two newly created wallets, according to data from Arkham Intelligence. Data from the blockchain analytics platform shows that Mt. Gox executed this transaction on Nov. 4 at 23:38 UTC. Most of these funds, totaling 30,371 BTC, were directed to […]
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Bankrupt crypto exchange FTX has reached settlement agreements with Evolve Bank and Silicon Valley Community Foundation (SVCF) that could enable it to recover up to $21 million in assets. According to Oct. 30 court filings, these settlements still require court approval, with a hearing set for Nov. 20. Evolve Bank settlement Before FTX’s collapse in […]
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FTX CEO John J. Ray III urged the court to keep former engineering director Nishad Singh out of prison, arguing that his continued freedom would help maximize asset recovery for the exchange’s creditors. Ray emphasized Singh’s cooperation as essential to FTX’s ongoing bankruptcy proceedings, where he has already assisted in asset recovery and provided critical […]
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The assets were initially valued at $28 million but now exceeded $50 million due to market fluctuations. The assets have been frozen by KuCoin since FTX's collapse in November 2022.
Bankrupt crypto exchange FTX has filed a lawsuit to recover over $50 million in assets allegedly withheld by KuCoin, according to court documents filed on Oct. 28. The assets were reportedly held in a KuCoin account belonging to the now-defunct Alameda Research, which filed for Chapter 11 bankruptcy in November 2022. FTX’s allegation In its […]
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The costly meltdown of global exchange FTX is still settling big chunks of its bankruptcy drama, now securing about $228 million from Bybit to further feed the cash dispersal that was approved in court earlier this month.
FTX has reached a $228 million settlement with crypto exchange Bybit and its affiliates, concluding a lawsuit filed in Nov. 2023 that sought to recover approximately $1 billion in assets. The agreement allows FTX to withdraw $175 million in digital assets held on Bybit’s platform and sell about $53 million in BIT tokens to Mirana […]
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The prices of Bitcoin and other digital assets were significantly lower during the 2022 collapse of FTX compared to current market prices.
US prosecutors have requested that the court favorably consider former FTX executive Nishad Singh’s “substantial assistance” during their investigation into the failed crypto exchange, according to an Oct. 23 court filing. The prosecutors noted that he approached his cooperation with genuine remorse and a strong desire to help. According to the authorities, Singh’s “exemplary cooperation” […]
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Alexander Nikolas Gierczyk of California says the hedge fund he sold his FTX bankruptcy claim to isn't paying out what it promised.
Roughly two years after the crypto exchange collapsed and many of its executives faced criminal charges, the Oct. 7 court decision was a step forward for reimbursing FTX users.
Over 94% of creditors voted in favor of the plan, which promises to return 118% of their claims in cash.
Get it before Oct. 30, Terraform Labs tells the third parties it is discussion its wind-down with.
The parent company of Silvergate Bank has listed assets ranging from $100 million to $500 million and liabilities between $10 million and $50 million.
The company was authorized to choose between receiving a $30 million or a 500 Bitcoin loan from Galaxy Digital.
This week’s Crypto Biz explores Pavel Durov’s arrest and consequences for Telegram, Nvidia’s earnings results, OpenSea’s Wells notice, Rhodium’s bankruptcy, BlackRock’s new crypto ETF and SxT Labs’ fundraising.
Bankrupt Mt. Gox continued its Bitcoin transfers this morning by moving 37,477 BTC, equivalent to $2.47 billion, to an untagged address, 12Gws9, according to data from Arkham Intelligence. The dashboard shows that the firm moved 5,106 BTC through a cold wallet to another untagged address beginning with 1MzhW. Market observers said these transactions are part […]
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The defunct exchange has moved billions of dollars worth of bitcoin over two days.
The bankrupt Mt. Gox exchange moved a total of $2.85B BTC to new wallets this morning, according to blockchain analytical firm Arkham Intelligence. As part of its creditor repayment efforts, Mt. Gox transferred 5,110 BTC, worth $340.1 million, to four separate Bitstamp addresses. Arkham reported that 1,598 BTC, valued at $106 million, went to a […]
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"This transaction marks a final chapter in the wind-down and is the best possible outcome for customers of BlockFi," said Mohsin Y. Meghji, Plan Administrator of BlockFi Inc.
Bankrupt crypto lender BlockFi will commence first interim crypto distributions through Coinbase in July 2024, it announced on Thursday.