FTX, the bankrupt crypto exchange, has reached a settlement with its EU founders, Patrick Gruhn and Robin Matzke, who were sued for over $323 million. The settlement also involves FTX selling its assets in the EU, where it failed to gain traction. The lawsuit, filed in July 2023, claimed that
U.S. Bankruptcy Judge John Dorsey in Wilmington, Delaware, has granted approval for FTX to sell its stake in Anthropic, the artificial intelligence company, marking a significant move for the cryptocurrency exchange’s post-collapse recovery. FTX’s initial $500 million investment in the AI-developing start-up Anthropic in 2021 secured them a 13.56% equity
Creditors of the defunct FTX exchange have taken legal action by suing the law firm managing the bankruptcy case in a class-action lawsuit. Creditors of FTX claimed in a court document dated February 16 that Sullivan & Cromwell, or S&C, “actively” took part in the “FTX Group’s multibillion dollar fraud,”
John Ray III, CEO of the FTX debtors estate, has filed paperwork to sell Digital Custody to CoinList at a steep discount of $500,000, with funding coming from Terence Culver, the original CEO and seller of DC. At first, FTX paid $10 million to acquire Digital Custody. The acquisition of
John Reed Stark, a former member of the U.S SEC, has hinted that the legal team may be trying to benefit from the bankruptcy proceedings via the FTX restructuring plan. Given the large gains made by the legal team during bankruptcy proceedings, Stark said in a post on twitter that
Court documents filed on February 3 show that defunct cryptocurrency exchange FTX is requesting permission to sell all of its shares in artificial intelligence company Anthropic. FTX moved the US Bankruptcy Court for the District of Delaware to sell Alameda Research’s Anthropic Series B Preferred Stock and any rights or
FTX, the troubled cryptocurrency exchange under the leadership of Sam Bankman-Fried, has announced its intention to entirely reimburse customers and creditors affected by its bankruptcy proceedings. The company assured the judge overseeing the case that individuals who can substantiate their losses are poised to recover their entire investments. However, the
In the unpredictable landscape of cryptocurrency, the ability to accurately forecast market movements is a skill that distinguishes seasoned experts from novices. One such adept trader, celebrated for his uncanny predictions, has recently captured the interest of the crypto community. Having successfully foreseen the recovery of Solana (SOL) post the
An independent examiner was ordered to be appointed by the court presiding over the bankruptcy of FTX crypto exchange by the United States Court of Appeals for the Third Circuit, months after the initial filing. Ruling of Judge John Dorsey of the U.S. Bankruptcy Court for the District of Delaware
The asset management business Ikigai said that it had liquidated its claim in the bankruptcy proceedings of FTX, after disclosing that a significant portion of its hedge fund’s assets had been held by the exchange at the time of its downfall. Travis Kling, chief investment officer of Ikigai, said on
