FTX has agreed to pay the CFTC $4 billion in disgorgement and $8.7 billion in restitution, minus amounts credited from other bankruptcy payments, according to a July 12 filing. If the proposed settlement is approved, FTX and associated debtors will receive dollar-for-dollar credit toward the restitution amount based on the amount they distribute in FTX.com […]
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The US commodities regulator didn’t seek a civil monetary penalty, meaning the entire $12.7 billion would be used to pay back FTX’s creditors.
The FTX bankruptcy estate is contesting a $264 million claim made by Jump Trading’s subsidiary, Tai Mo Shan, regarding an undelivered loan of 800 million Serum (SRM) tokens from Alameda Research. Alameda Research failed to deliver the 800 million SRM tokens as stipulated in the loan agreement. This failure is central to the dispute, as […]
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The bankrupt Terraform Labs is looking to sell four of its companies as it winds down operations to comply with its multi-billion SEC deal.
BTC derivatives continue to show moderate bullishness, creating a positive outlook for reclaiming $60,000 soon.
Bankrupt crypto lender Celsius Network’s litigation administrator has initiated legal action against account holders who have not settled liabilities related to preferential transfers made in the 90 days before the firm filed for bankruptcy. The lawsuits, filed in the US Bankruptcy Court for the Southern District of New York, target those with more than $100,000 […]
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Two Celsius creditors have filed a motion asking for a second distribution after they allegedly suffered reduced payments from possessing corporate accounts.
Mt. Gox, the bankrupt Japanese crypto exchange, will repay creditors’ Bitcoin and Bitcoin Cash assets starting July 2024. Following the announcement, the market sold off, with Bitcoin dipping below $61,000. In a June 24 statement, the exchange’s Rehabilitation Trustee, Nobuaki Kobayashi, wrote: “The Rehabilitation Trustee will commence the repayments in Bitcoin and Bitcoin Cash in […]
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The decentralized autonomous organization was first impacted by the collapse of the Terra ecosystem in 2022 and suffered $16.4 million in losses.
The group of creditors, led by Sunil Kavuri, cited several concerns, including forced taxation, which would compromise creditors’ best interests.
Crypto exchange Gemini said users of its now-defunct Earn product received $2.18 billion of their digital assets, according to a May 29 statement. These distributions amount to 97% of the total digital assets owed to Earn users, marking a significant recovery since the collapse of crypto lender Genesis, which halted withdrawals in November 2022. In-kind […]
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Gemini has announced a $2.18-billion distribution to its Earn program users 18 months after it suspended withdrawals.
An independent probe found that Sullivan & Cromwell was not complicit in the now-defunct exchange’s fraud.
Bitcoin price shows strength as investors expect the Fed to resume printing, but a handful of global macroeconomic headwinds are still in play.
Crypto exchange Gemini said its defunct Earn product users will begin receiving approximately 97% of their frozen digital assets by the end of this month. According to a recent statement, the exchange clarified: “As a reminder, the initial distributions will be in kind. This means, for example, that if you had lent one bitcoin in the […]
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Pleterski and an associate were arrested months after multiple investor complaints and months of police investigation.
The bankrupt FTX estate has unveiled a new reorganization plan that promises substantial returns to its creditors. FTX creditors with claims below $50,000 would be eligible for a 118% recovery within 60 days of its approval by the Delaware bankruptcy court. Other non-governmental creditors would receive 100% of their claims plus up to 9% interest […]
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Bankrupt cryptocurrency exchange FTX has proposed a new reorganization plan that would see a whopping 98% of its creditors get back 118% of their claims – in cash – within 60 days of court approval, according to new documents filed Tuesday evening.
Salame proposes to satisfy the debtors by transferring a residence he owns to FTX Digital Markets Ltd.
Venture capital firm Pantera Capital successfully acquired an undisclosed amount of discounted Solana tokens in a recent auction orchestrated by the bankrupt FTX exchange managers. While specific details of the auction are not fully disclosed, Pantera Capital, alongside industry stalwarts like Galaxy Digital, had previously made significant investments in SOL tokens, totaling around $1.9 billion […]
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FTX creditors have been urged to participate in the defunct exchange’s bankruptcy estate’s planned auction of its remaining Solana token holdings. On April 20, Figure CEO Mike Cagney revealed that the next round of FTX’s locked Solana token sales would be via auction, compared to previous ones sold directly to venture capital firms like Galaxy […]
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The bankrupt FTX exchange emptied its FTT treasury account to a new wallet address on April 18. Arkham Intelligence’s dashboard showed that the transferred assets from the FTT Treasury wallet include 195.87 million FTT tokens valued at approximately $247 million, 1,938 ETH valued at around $6 million, and 6.36 million JOE tokens worth $3.25 million. […]
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This secured fund, inclusive of interest, accounts for about 25% of Voyager’s creditors’ aggregate claims and is anticipated to be disbursed shortly.
Galaxy Trading, Pantera Capital and Neptune Digital Assets have acquired nearly two-thirds of FTX’s stake in SOL.
Lawyers for FTX say that customer claims for four SBF-linked cryptocurrencies: MAPS, OXY, SERUM, and BOBA should be heavily discounted or reduced to zero.
AI firm Anthropic has blocked Saudi Arabia from engaging in the sale process of 8% of its shares — currently owned by defunct crypto exchange FTX, CNBC reported on March 22, citing people familiar with the matter. FTX is selling the stake as part of its bankruptcy proceedings to repay its creditors, who lost billions […]
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Pellegrino asserted that 3AC was financially unstable when proposing the arrangement to LayerZero and criticized Davies for misleading and taking advantage of associates and partners.
FTX CEO John Ray III has debunked Sam Bankman-Fried’s (SBF) claims about the level of losses suffered by users of the defunct exchange. In a March 20 letter to Judge Kaplan, Ray said Bankman-Fried’s statements were “categorically, callously, and demonstrably false” because the exchange users would “never be in the same position they would have […]
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Kyle Davies, the co-founder of the now-defunct Three Arrows Capital, has stated that he is not sorry for the company going bankrupt.
Genesis and Gemini have taken steps to compensate users affected by their failed Earn program. According to a March 19 statement from Gemini, Genesis asked a bankruptcy court to approve a settlement in principle that will distribute funds to users. The request will be considered during an upcoming hearing on April 16. If the settlement […]
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