According to the plan, certain FTX users claiming less than $50,000 could expect to see their funds returned within 60 days.
The crypto lender made two claims, both of which were dismissed by Judge Dorsey for various reasons, including procedural shortcomings.
Over the weekend, several crypto influencers—including popular AI-driven crypto influencer AIXBT—erroneously stated that bankrupt FTX distributions would commence in January. These claims fueled excitement about a possible market surge 2025, driven by the rumored $16 billion disbursement. However, the actual timeline for these payments tells a different story. FTX’s official statements say no payouts will […]
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Initially owing creditors $4.2 million, Cryptopia’s liquidator Grant Thornton has distributed at least $225 million in crypto to hack victims in December.
FTX and its affiliated debtors announced on Dec. 16 that their reorganization plan will take effect on Jan. 3, 2025, and distributions will commence within 60 days. FTX has partnered with BitGo and Kraken to manage the distribution process for retail and institutional creditors. According to the claim portal, these service providers will ensure distributions […]
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More than two years after the cryptocurrency exchange filed for bankruptcy, the first group of FTX claimants could see recovery payments distributed as early as January.
A bankruptcy court filing showed FTX’s debtors reached settlements with political action committees and state-level Democratic parties over political contributions.
FTX debtors secured approximately $14.5 million in November through small claim settlements, primarily from political donations, according to a Dec. 10 court filing. The recovered funds included $6 million from the House Majority PAC and $3 million from the Senate Majority PAC. Additional returns came from organizations like Forward Action Fund, Mind the Gap, and […]
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Enron is back from the dead 23 years after its massive fraud put into bankruptcy, with the pranksters who have seemingly taken over the brand hinting at launching a token.
Bankrupt crypto lender Celsius has announced the second round of payments to creditors. According to a Nov. 27 court filing, this phase involves the distribution of $127 million in assets that will cover 2.75% of total creditor claims. The payout follows an earlier round in August, which returned $2.53 billion to 251,000 creditors, representing 57.65% […]
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FTX and its affiliated debtors announced they are on track to implement their Chapter 11 Plan of Reorganization by Jan. 2025, which will set distributions for creditors and customers. According to the timeline shared in the firm’s announcement, the final arrangements with specialized distribution agents will be completed in December, allowing customers in supported jurisdictions […]
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After two years of bankruptcy hearings, FTX creditor reimbursements are set to begin, but the FTX estate remains embroiled in litigation.
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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