Tag: FTX
FTX and the CFTC reach a $12.7 billion deal after months of talks
A $12.7 billion settlement between the U.S. Commodity Futures Trading Commission and bankrupt cryptocurrency exchange FTX is contingent upon approval from a Delaware judge. Based on a court filing made…
Remaining Anthropic shares are sold by FTX as bankruptcy costs rise above $500 million
The FTX bankruptcy case continues even though Sam Bankman-Fried, the founder of FTX, has had his trial concluded pending an appeal. The FTX estate, managed by CEO John Ray III,…
Positive creditor news causes the volume of FTX’s defunct token to soar
After the cryptocurrency exchange filed for bankruptcy at the end of 2022, it was a good week for FTX creditors—words that few people had anticipated to be published. But things…
Settlement Proposal Emerges in Lawsuit Against Sam Bankman-Fried
A recent development in the ongoing legal battle involving former FTX CEO Sam Bankman-Fried has seen a group of cryptocurrency users considering dropping their lawsuit against him. The proposed settlement,…
FTX Plans Auction for Locked Solana Tokens Amid High Demand
FTX, a prominent cryptocurrency exchange, is set to auction its next batch of locked Solana tokens following substantial interest from potential buyers. The decision to opt for an auction format,…
Former FTX Executive Ryan Salame to Be Sentenced in Late May
Ryan Salame, the former co-chief executive of FTX Digital Markets, will face sentencing in front of Judge Lewis Kaplan on May 28, 2024. This is a change from the original…
FTX Estate Sells Locked-Up SOL Tokens, Sparking Investor Interest
The FTX estate recently conducted a significant sale of SOL tokens, amounting to approximately $1.9 billion, to alleviate debt pressures stemming from the collapse of the crypto exchange. This move…
FTX Bankruptcy Estate Aiming for Creditor Repayment by 2024 End
In a recent meeting of FTX Digital’s Joint Official Liquidators held in the Bahamas, plans were outlined regarding the timeline for repaying creditors, with a target set to initiate repayments…
FTX Founder Sam Bankman-Fried Faces 24.25-Year Prison Sentence
Sam Bankman-Fried, the founder of FTX, has been sentenced to nearly 25 years in prison after a criminal fraud trial involving losses of $8 billion by retail investors. The ruling,…
FTX Liquidator Calls for Electronic Claims Submission, Sets Deadline
In a crucial development for FTX, the designated liquidator has formally invited creditors to submit their claims electronically, marking a significant step in the streamlined handling of the claims process….
FTX’s Financial Revitalization: Unveiling a Strategic Playbook through Stake Sales and Asset Monetization
Cryptocurrency exchange FTX, currently navigating bankruptcy proceedings, has set its sights on selling its 8% stake in AI startup Anthropic Holdings. The motion, spearheaded by FTX’s CEO John Ray III,…
FTX Pursues Customer Repayment and Abandons Revival Amid Legal Woes
In a significant turn of events, bankrupt cryptocurrency exchange FTX has opted to liquidate its assets to fulfill the aim of providing full repayment to its customers. The decision, announced…
FTX Sells Nearly $1 Billion of Grayscale’s Spot Bitcoin ETF Shares Amid Bankruptcy
In a noteworthy development, bankrupt cryptocurrency exchange FTX has reportedly liquidated almost $1 billion worth of shares in Grayscale’s GTBC fund since the fund transitioned into a spot bitcoin ETF….
Coinbase’s Chief Legal Officer Criticizes US Decision on Bankman-Fried Charges
In a surprising turn of events, US prosecutors have opted not to pursue remaining charges against Sam Bankman-Fried, a prominent figure in the cryptocurrency space. The dropped charges, particularly related…
Court Approval for FTX to Sell $744 Million in Grayscale Trust Assets Granted
According to a bankruptcy court filing filed on Friday, bankrupt cryptocurrency exchange FTX just gained consent from a bankruptcy court to sell its shares in digital trusts administered by Grayscale…
Bankrupt exchange FTX files $157-million lawsuit against ex-employees of Hong Kong affiliate
The now-defunct FTX has reportedly sued the former staff of Salameda, an entity based out of Hong Kong and one that was affiliated with the crypto exchange, for $157.3 million,…
Bankrupt Crypto Exchange, FTX Takes Legal Action Against Its Founder, Sam Bankman-Fried’s Parents
In an unforeseen development, the cryptocurrency exchange platform which had made it to the top headlines with its steep rise followed by subsequent bankruptcy has taken legal action against its…
Sam Bankman-Fried’s Bail Revoked on Grounds of Witness Tampering
The cryptocurrency world witnesses another shocking event as New York Federal Judge, Lewis Kaplan revoked the bail of Sam Bankman-Fried last Friday, Former CEO of the collapsed cryptocurrency exchange, FTX….
FTX Announces Restructuring Plan with an Aim to Reboot Offshore Exchange
In the rapidly changing world of cryptocurrencies, the major industry players witness several challenges and opportunities. In this context, FTX, a leading cryptocurrency exchange has committed to a bold move…
SBF’s Legal Battle Takes Unforeseen Twist as Lengthy Appeals Process Looms
Former FTX CEO Sam Bankman-Fried, commonly known as SBF, is facing a complex legal situation as his defense attorneys seek to separate or dismiss six charges from his impending trial….