After two long years, FTX, the cryptocurrency exchange that collapsed in November 2022, has finally started repaying its customers. As of January 3, 2025, the court-approved Chapter 11 Plan of Reorganization is now in action, marking an important step in the company’s efforts to settle creditor claims. The FTX Debtors
Sam Bankman-Fried (SBF) faces 25 years in prison after being convicted of financial fraud. Yet, rumours are swirling about his possibly receiving a presidential pardon from President Joe Biden. This speculation gained traction after billionaire Elon Musk weighed in, saying he would be “shocked if this doesn’t happen.” FTX collapsed
FTT token has surged by 8% in the last 24 hours, topping the gainers list. It is currently trading at $2.96, marking a 7.72% increase in one day. The token’s market capitalization has reached $972.99 million, reflecting a 7.66% growth. The 24-hour trading volume stands at $45.33 million, with an
In a major development for victims of the collapsed FTX exchange, the Court-approved Chapter 11 Plan of Reorganization is set to become effective on January 3, 2025. This huge milestone comes after over two years of the exchange’s downfall in November 2022. The Initial Distribution will be limited to holders
The crypto market is ablaze with activity as several altcoins stage bull runs. In an additional spur, discussions on who would succeed Gary Gensler as SEC Chair have spiked quite the interest. Prominent journalists such as Eleanor Terret speculate that Paul Atkins will be the next SEC Chair. Meanwhile, the
FTX Token (FTT) soared to $2.64 today, marking a remarkable 30.96% price increase in the last 24 hours. The trading volume skyrocketed by 232.33%, reaching $196.99 million, reflecting strong investor interest. FTT’s market cap stands at $869.28 million, with a 21.45% volume-to-market cap ratio. This significant surge comes as the
This day might rise as a remarkable milestone in crypto history, for two coinciding events taking place. Bitcoin has come closest to hitting the $1 million target with a new all-time-high standing at $99,000. This has led to a full-fledged bull run in the crypto market. The overall market cap
The trading platforms fraud case against Gary Wang, a former senior executive of the now-defunct FTX exchange, will not result in a prison sentence. Judge Lewis Kaplan of the United States District Court issued an unusually lenient ruling in Manhattan Federal Court. Wang had already entered a guilty plea for
The U.S. Department of Justice (DOJ) has registered a civil forfeit lawsuit to recover $16 million worth of crypto assets, assumed to be linked to the controversial crypto exchange, FTX and its founder Sam Bankman-Fried. Among the crypto assets, more than half of the assets were held in Solana (SOL),
FTX has filed a lawsuit against Binance and its former CEO, Changpeng Zhao, in a bid to recover nearly $1.8 billion. The lawsuit, filed on November 10, alleges that Binance and Zhao received these funds as part of a fraudulent share repurchase deal in July 2021. This move marks another
