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
New pay documentation reveals that in the three months ending October 31, the now-defunct cryptocurrency exchange FTX spent around $53,000 per hour on bankruptcy attorneys and advisors. The bankruptcy attorneys have charged a minimum of $118.1 million from August 1st to October 31st, according to court documents filed between December
In an updated Chapter 11 plan of reorganization, the creditors of the bankrupt FTX crypto exchange have said that the value of client asset claims would be adjusted backwards to the date of the firm’s collapse in November 2022. The debtors recently said in a court filing in the U.S
During a bankruptcy hearing, a federal judge acted to resolve a long-running disagreement between FTX and its biggest creditor, suggesting the court may attempt to expedite the recovery of FTX customers’ monies from the estate of the defunct cryptocurrency exchange. The crypto exchange’s outstanding balance with the Internal Revenue Service
The defunct cryptocurrency exchange claims that any “meaningful recovery” intended for FTX victims will be swallowed up by the U.S Internal Revenue Service’s (IRS) planned $24 billion tax bill. Since May, the US tax authorities have been attempting to collect past due taxes from the defunct cryptocurrency exchange and its
Cryptocurrencies valued at $23.59 million were transferred to leading crypto exchanges from wallets associated with the now-defunct FTX and Alameda Research over the course of four days. According to blockchain analytics company Spot On Chain, the insolvent organizations have moved $591 million in 59 different tokens since October 24. Nearly
According to blockchain research company Lookonchain, $22 million worth of digital assets have been transferred by defunct crypto exchange FTX and its subsidiary Alameda Research. After filing for bankruptcy, the new team of FTX and Alameda Research wasted no time and sent large sums to major exchanges. The business has
Using eight different cryptocurrencies, wallets associated with the now-defunct FTX exchange and its subsidiary Alameda Research sent $10.8 million to Binance, Coinbase, and Wintermute accounts. Spot On Chain, a blockchain research organization, saw the transaction and estimated that the organizations had moved $551 million using 59 distinct cryptocurrency tokens since
The bankruptcy court in Delaware approved the sale of around $873 million worth of trust assets held by the defunct crypto exchange FTX on November 29. Assets totaling $873 million will come from FTX holdings in several trusts issued by Bitwise ($66 million), a custody service provider, and Grayscale Investments
