FTX Creditors to Receive Over $5B Starting May 30
The FTX Recovery Trust has announced it will begin disbursing more than $5 billion to creditors from May 30. This payment round marks the second distribution to eligible parties as…
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FTX Creditors to Receive Over $5B in Second Payout Starting May 30
The FTX Recovery Trust explained on Thursday that it will distribute more than $5 billion to creditors starting May 30, 2025, as part of its court-approved Chapter 11 bankruptcy reorganization…
Ex-Celsius CEO Alex Mashinsky Seeks 1-Year Sentence, Rejects DOJ’s 20-Year Proposal
Former Celsius CEO Alex Mashinsky is seeking a one-year prison sentence, sharply contesting the Department of Justice’s (DOJ) recommendation of 20 years for fraud and market manipulation tied to the…
FTX Estate to Begin Repaying Main Creditors $11.4B in Cash by May 2025
The bankrupt cryptocurrency platform FTX aims to initiate repayments to primary creditors by May 30, 2025, deploying an $11.4 billion liquidity pool amassed since its 2022 downfall, Bloomberg revealed this…
Elon Musk Urges Public to Help DOGE as US Bankruptcy Looms
Elon Musk warns America is on the brink of financial collapse. Urgent help is needed to expose government waste before uncontrolled spending drives the nation to ruin. US Bankruptcy Looms—Elon…
Bankrupt FTX Sets Initial Payout Date for 2025, Partners With Bitgo and Kraken
FTX will initiate repayments to Convenience Class creditors on Feb. 18, 2025, nearly three years after its November 2022 bankruptcy filing. FTX Creditors to Receive First Distributions Starting Feb. 18,…
FTX Issues Clarification on Backpack’s Acquisition and Fund Repayment Claims
Bankrupt cryptocurrency exchange FTX has responded to recent claims by Backpack regarding the acquisition of its European arm, FTX EU, and the repayment of customer funds. In a statement released…
Here’s When FTX’s Court-Approved Chapter 11 Plan Will Take Effect
FTX and its affiliated debtors have announced that their Chapter 11 reorganization plan will officially take effect on January 3, 2025. This day has also been designated as the initial…
FTX filed for bankruptcy 2 years ago — What’s happening now?
The exchange’s creditors haven’t been made whole despite a judge approving a plan, and sentencing for former executives is nearing an end.
Blockfi Receives $250M USDC Deposit, Sparking Hopes for Creditor Repayments
Onchain data reveals that Blockfi, a now-bankrupt crypto lending firm, received a hefty $250 million deposit (1, 2) to one of its flagged addresses, as reported by Arkham Intelligence. The…