FTX, the crypto exchange that faced bankruptcy in November 2022 is planning to repay creditors in the fourth quarter of 2024 which is starting this October. They are redistributing 16 billion dollars. It owes more than two million customers and other non-governmental creditors about $11 billion. This vital move marks
After the U.S. court’s order for FTX to pay $12.7 billion and repay creditors, the exchange is facing new challenges in its repayment efforts. The US Securities and Exchange Commission (SEC) has issued a warning against the bankrupt exchange’s strategy for repaying creditors. The SEC’s latest filing suggests a “possible
A new development has occurred in the ongoing FTX restructuring proceedings; the case’s United States trustee has voiced strong concerns to the crypto exchange’s revised reorganization plan. Although the FTX estate claims that the proposed plan has the backing of many creditors. The trustee Andrew Vara and other creditors have
Final clearance for the $12.7 billion repayment to FTX creditors as part of the settlement with the US Commodity Futures Trading Commission (CFTC) was given by a New York court for the now-defunct crypto exchange FTX and its sister trading business Alameda Research. Judgment on the $12.7 billion settlement agreement
Following its acquisition of FTX Japan, BitfFlyer Holdings intends to introduce possible crypto-based ETFs. After completing the purchase of all outstanding shares of FTX Japan, BitFlyer now owns 100% of the company. According to a tweet by bitFlyer Holdings CEO Yuzo Kano on July 26th, the new company intends to
In a move for the Japanese cryptocurrency market, BitFlyer Holdings has completed the acquisition of 100% of FTX Japan’s outstanding shares, effectively making it a wholly owned subsidiary. This strategic acquisition paves the way for BitFlyer to explore new avenues, including the potential launch of crypto-based exchange-traded funds (ETFs) and
The FTX bankruptcy estate is disputing a $264 million claim by Tai Mo Shan, a subsidiary of Jump Trading, related to a loan agreement with Alameda Research involving 800 million Serum (SRM) tokens. SRM served as the cryptocurrency for Serum, a decentralized exchange once affiliated with FTX, which collapsed following
Sam Bankman-Fried’s (SBF) family is embroiled in a $100 million financial controversy. These involve the abuse of business assets to make political contributions. SBF is the founder of the defunct crypto exchange FTX. The Wall Street Journal (WSJ) recently published emails. That showed the SBF family handled more than $100
Bankrupt cryptocurrency exchange FTX has asked a US court to let creditors vote on the best liquidation plan, and the judge has granted their request. Despite earlier objections stating a reduction in asset payments, creditors of the collapsed exchange will vote on a liquidation plan. A liquidation plan put out
CoinShares International, a prominent European digital asset investment company, has finalized the sale of its claim against the defunct FTX exchange. This sale is expected to yield a remarkable recovery rate of 116% after broker fees. This translates to a substantial return of approximately $39.78 million on a claim initially
