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CryptoCurrency
bitFlyer Swallows FTX Japan Whole: Plans to Enhance Crypto Custody and ETF
2024-07-26T15:53:48.332+02:00
Upon acquiring FTX Japan, the firm plans to rebrand it by August 26, 2024.
FTX Japan had $134 million in segregated assets and more assets than liabilities.
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CryptoCurrency
FTX and CFTC Settle 19-Month Lawsuit for $12.7 Billion, Pending Court Approval
2024-07-17T10:52:47.701+02:00
The settlement includes $8.7 billion in restitution and $4 billion in disgorgement.
The CFTC did not seek a civil penalty because FTX already faces significant liability.
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FTX's Former Executives Who Testified Against Sam Bankman-Fried Scheduled for Sentencing
2024-07-09T19:03:56.994+02:00
Nishad Singh's hearing will be on October 30, while Gary Wang's will be on November 20.
Both Singh and Wang pleaded guilty to fraud charges in a Manhattan federal court.
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FTX-Related Failures Led This Bank to $63 Million in Penalties
2024-07-02T07:32:07.238+02:00
Silvergate Bank allegedly failed to detect $9 billion in suspicious transactions from major FTX customers.
The bank filed for voluntary liquidation in March 2023.
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CryptoCurrency
FTX Customers Dispute Proposed Liquidation Plan in Bankruptcy Court
2024-06-25T12:42:10.009+02:00
Some FTX customers argue they're entitled to higher repayments based on current crypto prices.
Objecting creditors contend FTX's claim of a "full recovery" with interest is misleading.
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CoinShares Sold £26.6 Million FTX Claim for a Profit
2024-06-24T08:10:04.804+02:00
The company received a net recovery rate of 116 percent after broker fees.
It will invest the recovered proceeds in “growth opportunities.”
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Bitflyer Takes the Reins: Acquiring FTX Japan amid Bankruptcy Fallout
2024-06-20T18:01:51.168+02:00
Unlike its parent company, FTX Japan reported a surplus of assets compared to liabilities.
Bitflyer ranks 22nd globally in crypto exchange volume, with notable BTC/JPY trading.
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CryptoCurrency
FTX Creditors Filed an Objection against Bankruptcy Reorganization Plan
2024-06-07T07:32:14.001+02:00
The creditors argued that the repayment plan was not in their best interest.
The proposed repayment plan would put tax liability on the creditors.
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CryptoCurrency
FTX Settles $24 Billion Tax Dispute with Internal Revenue Service
2024-06-04T21:37:31.632+02:00
The settlement includes FTX paying $200 million within 60 days of court approval and $685 million after compensating other creditors and customers.
Initially, the IRS claimed $44 billion, but it was amended to $24 billion.
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FTX's Former Executive Ryan Salame Sentenced to over 7 Years for Fraud and Conspiracy
2024-05-28T22:30:59.335+02:00
Salame is one of the four FTX's former managers who pleaded guilty but did not testify against Sam Bankman-Fried.
He acted as a "straw donor," reportedly channeling over $100 million into US political campaigns before the 2022 midterm elections.
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Sam Bankman-Fried Is Set for Prison Transfer amid Appeal Preparations
2024-05-22T19:01:57.756+02:00
Bankman-Fried received a 25-year sentence in connection with the collapse of FTX.
Facing allegations of an $8 billion theft, he desired to stay in New York.
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Trending
FTX Has the Funds, But Creditors Claim Payout Is “Insulting”
2024-05-10T09:05:03.469+02:00
Are customers’ holdings being undervalued?
Get out while the going’s good, or fight for more?
What’s sure is that the IRS is still getting its slice.
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CryptoCurrency
Bankrupt FTX Plans to Pay Nearly All Customers 118% of Their Claims
2024-05-08T07:50:13.166+02:00
The creditors with claims of $50,000 or less will be eligible to receive 118 percent of their claims.
It will also pay non-governmental creditors an interest of 9 percent on their full claims.
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CryptoCurrency
Another Extension: CySEC Suspends FTX EU’s License until September
2024-04-16T10:48:54.742+02:00
The license was originally suspended in November 2022.
CySEC's license allowed the now-collapsed crypto exchange to offer crypto derivatives.
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CryptoCurrency
Senators Grill CFTC Boss on Sketchy Links to FTX’s Fallen Star Sam Bankman-Fried
2024-04-16T09:28:53.819+02:00
Warren and Grassley demand the records of CFTC's Chairman's with the CEO of the fallen crypto exchange.
They seek details on the regulator's pre-FTX collapse interactions.
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CryptoCurrency
Sam Bankman-Fried Appeals Conviction Only 2 Weeks after Sentencing
2024-04-12T07:36:22.095+02:00
He was sentenced to 25 years imprisonment.
The appeal was filed hours before the deadline.
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CryptoCurrency
FTX Founder's Lawyer Seeks Leniency for Sam Bankman-Fried
2024-02-28T11:25:09.727+02:00
The lawyer proposed a sentence of up to six and a half years, far less than the 110-year maximum.
The sentencing is ongoing, awaiting the recommendation from the US Attorney's office in Manhattan by March 15.
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CryptoCurrency
Tyr Capital Faces Client Dispute over Exposure to FTX's Bankruptcy
2024-02-20T11:40:23.858+02:00
The $22 million claim from a client confronts the firm as it pursues asset recovery.
The entity withdrew assets from FTX on the day of its bankruptcy filing.
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CryptoCurrency
FTX Hack Was Not an Inside Job: US Prosecutors Charge 3 for SIM-Swap Fraud
2024-02-02T07:30:26.745+02:00
The three individuals impersonated an FTX employee to siphon $400 million.
The attack came hours after FTX and its affiliates filed for bankruptcy.
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CryptoCurrency
Bankrupt FTX Plans to Repay Creditors in Full: Squashes Restart Ploy
2024-02-01T08:13:34.210+02:00
The creditors will be repaid based on the value of digital assets at the time of bankruptcy.
The administrators failed to convince investors or buyers to restart the exchange.
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CryptoCurrency
Bankrupt FTX Strengthens Cash Holdings to $4.4 Billion by Selling Crypto
2024-01-29T12:48:42.146+02:00
The collapsed exchange sold $1.8 billion worth of crypto assets in December.
The management has yet to finalize the repayment plan to customers and creditors.
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CryptoCurrency
FTX's Claim Prices Surge Ahead of Crucial Court Hearing
2024-01-23T17:21:19.112+02:00
The crypto exchange is advocating for a refund process based on market prices.
More than 100 objection letters have been filed against FTX’s motion on claims.
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CryptoCurrency
FTX's Bankruptcy Crisis Deepens: Appeals Court Orders Appointment of Independent Examiner
2024-01-19T21:21:36.086+02:00
The company's current CEO and the committee of unsecured creditors have opposed this step.
The court maintains that the appointment of an examiner is mandatory under the US Bankruptcy Code.
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“We Are So Close, Yet So Far”: Industry Leaders Unveil Insights on Crypto Regulation
2023-12-28T10:57:05.848+02:00
The FMLS panelists of “Crypto Regulation after FTX” agreed that success relies on collaboration.
The talk stressed faster rule updates through industry-regulator dialogue.
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FTX's Former CEO Sam Bankman-Fried Denied Request for Prolonged Sentencing Process
2023-12-20T22:00:59.254+02:00
This denial happens amid the possibility of a second trial against Bankman-Fried.
SBF's defense team has requested an extension of four to six weeks for his sentencing.
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