FTX Recovery Trust to Release $1.6B in September Payout — Creditors Edge Closer to $16.5B Total
The long, messy saga of FTX’s bankruptcy is inching forward again. The FTX Recovery Trust, tasked with untangling Sam Bankman-Fried’s collapsed empire, has announced its third distribution: roughly $1.6 billion will be released to creditors on September 30, with funds expected to hit accounts within three business days.
Gary Wang Avoids Prison After Cooperating in FTX Fraud Case
Gary Wang, co-founder and former CTO of FTX, has avoided prison time for his role in the cryptocurrency exchange's collapse.
Gary Wang FTX Co-Founder To be Sentenced Today
Gary Wang, co-founder of FTX, is scheduled for sentencing today in the United States District Court for the Southern District of New York.
FTX Files a Lawsuit Against Binance and CZ
The FTX bankruptcy estate has filed a lawsuit against Binance and its former CEO, Changpeng "CZ" Zhao, seeking to recover approximately $1.8 billion.
FTX Pursues $11 Million Recovery from Crypto.com Over Bankruptcy Settlement
Bankrupt crypto exchange FTX is intensifying its asset recovery efforts as it seeks to return funds to creditors.
U.S. Government Intensifies Efforts to Recover $13M in Political Contributions From FTX Executives
The DOJ wants to claw back about $13.25 million in the form of political donations that came from or were connected with former FTX executives Sam Bankman-Fried and Nishad Singh.
FTX’s Solana Holdings Spark Concerns, Drive Investors Towards Hedging Strategies
Movements from FTX wallets are causing anxiety in the Solana community. The unstaking of 177,693 SOL tokens, valued at approximately $23.75 million has raised concerns about a potential sell-off that could impact SOL's price.
FTX Receives Court Approval to Repay Billions to Customers
In a landmark decision, FTX, the once-dominant cryptocurrency exchange that collapsed spectacularly last year, has received court approval for its bankruptcy plan.
FTX Exchange Customers Will Get Their Funds Back, Judge Rules
After two years of legal proceedings and fund recovery efforts, customers of the crypto exchange FTX are set to receive their funds back.
Caroline Ellison Sentenced to 24 Months in Prison
Former Alameda Research CEO Caroline Ellison was sentenced to 24 months in prison by a federal judge on Tuesday.
Sam Bankman-Fried Claims Trial Unfair – Files Appeal
Sam Bankman-Fried, the former CEO of the failed cryptocurrency exchange FTX, filed an appeal on Friday seeking a new trial under a different judge.
FTX Bankruptcy – OKX To Return US$157M
Good news for creditors in the FTX bankruptcy as the OKX exchange prepares to return US$157 million in frozen FTX funds held by OKX.
Xclaim – a Marketplace for Crypto Bankruptcy Claims
Matthew Sedigh is the CEO at Xclaim, a marketplace for crypto bankruptcy claims. Users who have accounts with stranded assets at FTX, Genesis, Celsius, Voyager or BlockFi can sell the claim on their account to recover some liquidity.
Locked Account Holders Sell Their FTX, Celsius and BlockFi Accounts
With bankruptcy proceedings for failed crypto platforms likely to take many years, customers with locked funds are moving to sell their accounts in online marketplaces.
Crypto Market Forecast: Week of January 9th 2022
A curated weekly summary of forward-focused crypto news that matters. This week, Coinbase CEO Brian Armstrong points to FTX contagion risks, Tonga and Fiji explore the potential of the Bitcoin network, and a major Russian bank launches a gold-backed digital asset.
Binance Under The Microscope As Market FUD Dominates
In the wake of the FTX failure, centralized crypto exchanges are now firmly in the sights of law enforcement, politicians, and of course, their user bases. As the largest of them all, Binance is feeling the heat as it attempts to introduce more transparency to its global operations.
