FTX
Binance Asks U.S. Court to Dismiss $1.76 Billion Clawback Lawsuit Filed by FTX Estate
- The company contends that FTX’s downfall was caused by internal fraud, specifically pointing to Sam Bankman-Fried’s conviction and sentence.
- Binance disputes allegations that it knowingly received misappropriated customer funds
Tuesday, 20/05/2025 | 21:58 GMT by
Jared Kirui
FTX EU Customers’ Claims Are on the Way: New Owner Backpack Initiates Process
- Backpack has initiated the KYC process for claims, which will be followed by fund distribution.
- However, the parent company has yet to set a deadline for starting the distribution phase.
Wednesday, 02/04/2025 | 04:59 GMT by
Arnab Shome
FTX Bankruptcy Hit by Court Ruling Favoring 3AC’s $1.53 Billion Claim
- The legal dispute involves allegations that FTX liquidated $1.53 billion of 3AC’s assets just two weeks before 3AC’s collapse in 2022.
- The ruling significantly alters how FTX’s remaining assets will be allocated among creditors, potentially delaying distributions.
Friday, 14/03/2025 | 19:26 GMT by
Jared Kirui
FTX Begins Payouts to Creditors Under $50K: Recovery Could Reach $16B
- Larger creditors will receive payments from Q2 2025, with FTX distributing $7 billion initially.
- Recovery rates vary by claim type, with overall expected recoveries ranging from 123% to 138%.
Tuesday, 18/02/2025 | 10:13 GMT by
Tareq Sikder
Kraken Offers Fee Credits for FTX Clients to Trade $50K in Crypto
- Eligible clients can receive up to $105 in Kraken trading fee credits upon receiving their funds.
- Clients must complete onboarding and verification to access the fee credits on Kraken Pro.
Thursday, 09/01/2025 | 15:12 GMT by
Tareq Sikder
FTX EU Acquisition in Jeopardy? Backpack Does Not Have Court Approval
- According to FTX, Backpack is indirectly acquiring the Cypriot unit from former FTX employees who still do not own the division.
- Backpack also lacks authorisation to distribute funds to stressed FTX customers.
Thursday, 09/01/2025 | 05:58 GMT by
Arnab Shome
Can Bitcoin Reach $210,000 in 2025? The Role of Corporations and Favorable Regulations
- Presto Research's latest report highlighted that analysts also predict that Solana could reach $1,000 in 2025 thanks to network growth and strong technology.
- The Bitcoin Strategic Reserve bill has enhanced the cryptocurrency’s potential as a geopolitical asset.
Tuesday, 17/12/2024 | 14:12 GMT by
Jared Kirui
FTX to Distribute Funds to Investors Through Kraken and BitGo, Process to Start in January
- Payments will reportedly be made in phases, with the first distribution expected within 60 days of the effective date.
- Eligible creditors must verify their identity and meet other requirements.
Monday, 16/12/2024 | 19:00 GMT by
Jared Kirui
Crypto Executive Avoids Prison, FTX Seeks $1.8 Billion in Binance Lawsuit
- Gary Wang adjusted FTX software, enabling Alameda Research to withdraw billions undetected.
- Recently, the FTX bankruptcy estate filed a lawsuit against Binance to recover $1.8 billion.
Wednesday, 20/11/2024 | 16:59 GMT by
Tareq Sikder
Coinbase’s cbBTC Launches on Solana DeFi, Targeting Bitcoin Gap Left by FTX
- $10 million in cbBTC is allocated for Solana, with early use on platforms like Meteora, Orca, and Kamino.
- cbBTC may position Solana as a DeFi alternative to Ethereum for BTC transactions.
Wednesday, 13/11/2024 | 12:29 GMT by
Tareq Sikder
FTX’s Nishad Singh Avoids Jail Time for Crypto Fraud: What Will Be Gary Wang's Fate?
- Singh pleaded guilty to six felony charges, which carried a potential maximum sentence of 75 years.
- The judge acknowledged his cooperation, describing it as “remarkable.”
Thursday, 31/10/2024 | 07:05 GMT by
Arnab Shome
FTX's Alameda Research Sues KuCoin to Recover $50 Million in Frozen Assets
- The lawsuit claims KuCoin holds funds belonging to FTX’s estate, intended for creditor repayments.
- Filed in Delaware, the lawsuit follows FTX's recent asset recovery from Bybit.
Tuesday, 29/10/2024 | 18:03 GMT by
Tareq Sikder
FTX Bankruptcy Plan Approved, Promising 119% Return to Creditors
- The plan involves distributing between $14.7 billion and $16.5 billion to creditors across more than 200 jurisdictions.
- It comes less than two years after the crypto exchange's high-profile collapse in November 2022.
Tuesday, 08/10/2024 | 05:51 GMT by
Damian Chmiel
FTX Auditor Prager Metis to Pay $1.95 Million for Negligence
- The SEC alleged that the auditor failed to comply with auditing standards and establish connections between FTX and Alameda Research.
- The auditor violated rules while auditing over 200 companies between 2017 and 2020.
Wednesday, 18/09/2024 | 03:56 GMT by
Arnab Shome
“Presumed Guilty by the Judge”: FTX Founder Sam Bankman-Fried Appeals $8B Fraud Conviction
- He was sentenced to 25 years in prison after being convicted of seven counts of fraud and conspiracy to commit fraud.
- The new defence lawyer accused the judge of being biased against Bankman-Fried in the previous jury trial.
Saturday, 14/09/2024 | 15:16 GMT by
Arnab Shome