Ftx Bankruptcy
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FTX Cleared to Repay Billions to Customers After Bankruptcy Plan Approval
FTX has received court approval of its bankruptcy plan. The plan is built on a series of settlements with FTX customers and creditors, US government agencies, and liquidators appointed to wind down FTX's operations outside the US.
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US CFTC Orders Fallen Crypto Exchange FTX to Pay $12.7 Billion to Customers
The CFTC agreement resolves a potential roadblock to that repayment, ensuring that the government's lawsuit against FTX will not reduce the funds available to its customers. The CFTC agreed not to collect any payment from FTX until all its customers are repaid, with interest.
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Crypto Exchange FTX Submits Plans To Distribute Over $14 Billion To Creditors
Crypto exchange FTX filed an amended reorganization plan with a U.S. bankruptcy court which will allow for $14.5 billion to $16.3 billion for distribution to creditors, the company said in a statement on Tuesday.
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Sam Bankman-Fried Urges Lenient Sentence, Citing FTX Fund Recovery
Sam Bankman-Fried's lawyer urged a judge on Tuesday to impose a lenient sentence for the FTX founder's conviction for stealing $8 billion (roughly Rs. 6,63,30 crore) from customers of the now-bankrupt cryptocurrency exchange, arguing clients would get most of their funds back.
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FTX Founder Sam Bankman-Fried Won't Face Second Trial: US Prosecutors
U.S. prosecutors said on Friday they do not plan to proceed with a second trial against Sam Bankman-Fried, who was convicted last month of stealing from customers of his now-bankrupt FTX cryptocurrency exchange.
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BlockFi to Shut Operations, Return Crypto Assets to Customers
BlockFi emerged from bankruptcy on Tuesday, saying it will wind down operations and begin returning crypto assets to customers 11 months after it was swept away by the turbulence in thecryptocurrency industry following FTX's collapse.
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FTX Exchange Gets Court Approval to Sell Crypto Assets, Move Will Allow Repayment to Customers
Bankrupt crypto exchange FTX received US court permission on Wednesday to liquidate cryptocurrency assets, a move the company said would allow it to repay customers in US dollars and minimize risks related to price volatility in crypto markets.
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FTX’s Sam Bankman-Fried Denies Allegations of Witness Tampering, Accepts Gag Order
Lawyers for FTX founder Sam Bankman-Fried rejected prosecutors' claims that his discussions with a New York Times reporter amounted to witness tampering but agreed to accept a gag order, they said in a letter to the judge in the criminal fraud case.
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FTX Alleges Former Lawyer of Aiding Sam Bankman-Fried's Fraud, Silencing Whistleblowers
FTX filed a complaint on Tuesday in US Bankruptcy Court in Delaware, accusing one of its former top lawyers, of aiding fraud by company founder Sam Bankman-Fried and silencing whistleblowers who reported wrongdoing at the company. Daniel Friedberg, a former chief compliance officer at FTX and general counsel of its related crypto hedge fund Alameda...
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FTX Says Banks Earlier Raised Questions About FTX-Affiliated Hedge Fund's Wire Activity
Certain banks working with FTX founder Sam Bankman-Fried's trading firm Alameda Research raised questions about the firm's wire activity as early as 2020, according to a report released by FTX on Monday. Some banks began rejecting wires to or from Alameda the same year that the cryptocurrency exchange scrambled to access the US banking system, the ...
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Crypto Investors Grow Cautious After Sudden Collapse of Exchanges Last Year
Cryptocurrency investors have grown more cautious about who they do business with, after being burned last year by sudden collapses of Celsius Network, Voyager Digital, FTX and others, and fearing a regulatory crackdown will put more pressure on remaining firms. The recent crypto platform bankruptcies trapped customer assets now worth around $34 bi...
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FTX Seeks to Claw Back Over $240 Million From Embed Acquisition
Bankrupt crypto exchange FTX is seeking to claw back more than $240 million (nearly Rs. 2,000 crore) it paid for stock trading platform Embed, saying former FTX insiders did no investigation before buying the essentially worthless bug-ridden software platform. FTX closed on the Embed acquisition just six weeks before the crypto exchange collapsed ...
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Bankrupt Crypto Lender Voyager Digital Hopeful to Provide 35 Percent Customer Payout
Crypto lender Voyager Digital said Wednesday that customers will recover about 35 percent of their cryptocurrency deposits as the company winds down its operations after a failed buyout attempt by crypto exchange Binance.US. US Bankruptcy Judge Michael Wiles approved Voyager's proposed liquidation plan at a court hearing in Manhattan on Wednesday.
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Large Withdrawals by Crypto Whales Responsible for US Banking Crisis: Federal Reserve Bank of Chicago
The Federal Reserve Bank of Chicago has blamed the downfalls of BlockFi, Celsius, FTX, Genesis (in partnership with Gemini), and Voyager Digital major reasons behind the ongoing banking crisis in the US. Several crypto firms laid off staff members while the others filed for bankruptcy last year, leading to the outflows of large crypto investments.
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FTX Gets Court Permission to Sell Its LedgerX Business to Raise Funds for Repaying Creditors
Bankrupt crypto exchange FTX received US bankruptcy court permission on Thursday to sell its LedgerX business for $50 million (nearly Rs. 408 crore), raising additional funds to repay creditors. At a hearing in Wilmington, Delaware, US Bankruptcy Judge John Dorsey signed off on FTX's sale of LedgerX, its non-bankrupt crypto derivatives trading plat...
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FTX Cleared to Repay Billions to Customers After Bankruptcy Plan Approval
FTX has received court approval of its bankruptcy plan. The plan is built on a series of settlements with FTX customers and creditors, US government agencies, and liquidators appointed to wind down FTX's operations outside the US.
-
US CFTC Orders Fallen Crypto Exchange FTX to Pay $12.7 Billion to Customers
The CFTC agreement resolves a potential roadblock to that repayment, ensuring that the government's lawsuit against FTX will not reduce the funds available to its customers. The CFTC agreed not to collect any payment from FTX until all its customers are repaid, with interest.
-
Crypto Exchange FTX Submits Plans To Distribute Over $14 Billion To Creditors
Crypto exchange FTX filed an amended reorganization plan with a U.S. bankruptcy court which will allow for $14.5 billion to $16.3 billion for distribution to creditors, the company said in a statement on Tuesday.
-
Sam Bankman-Fried Urges Lenient Sentence, Citing FTX Fund Recovery
Sam Bankman-Fried's lawyer urged a judge on Tuesday to impose a lenient sentence for the FTX founder's conviction for stealing $8 billion (roughly Rs. 6,63,30 crore) from customers of the now-bankrupt cryptocurrency exchange, arguing clients would get most of their funds back.
-
FTX Founder Sam Bankman-Fried Won't Face Second Trial: US Prosecutors
U.S. prosecutors said on Friday they do not plan to proceed with a second trial against Sam Bankman-Fried, who was convicted last month of stealing from customers of his now-bankrupt FTX cryptocurrency exchange.
-
BlockFi to Shut Operations, Return Crypto Assets to Customers
BlockFi emerged from bankruptcy on Tuesday, saying it will wind down operations and begin returning crypto assets to customers 11 months after it was swept away by the turbulence in thecryptocurrency industry following FTX's collapse.
-
FTX Exchange Gets Court Approval to Sell Crypto Assets, Move Will Allow Repayment to Customers
Bankrupt crypto exchange FTX received US court permission on Wednesday to liquidate cryptocurrency assets, a move the company said would allow it to repay customers in US dollars and minimize risks related to price volatility in crypto markets.
-
FTX’s Sam Bankman-Fried Denies Allegations of Witness Tampering, Accepts Gag Order
Lawyers for FTX founder Sam Bankman-Fried rejected prosecutors' claims that his discussions with a New York Times reporter amounted to witness tampering but agreed to accept a gag order, they said in a letter to the judge in the criminal fraud case.
-
FTX Alleges Former Lawyer of Aiding Sam Bankman-Fried's Fraud, Silencing Whistleblowers
FTX filed a complaint on Tuesday in US Bankruptcy Court in Delaware, accusing one of its former top lawyers, of aiding fraud by company founder Sam Bankman-Fried and silencing whistleblowers who reported wrongdoing at the company. Daniel Friedberg, a former chief compliance officer at FTX and general counsel of its related crypto hedge fund Alameda...
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FTX Says Banks Earlier Raised Questions About FTX-Affiliated Hedge Fund's Wire Activity
Certain banks working with FTX founder Sam Bankman-Fried's trading firm Alameda Research raised questions about the firm's wire activity as early as 2020, according to a report released by FTX on Monday. Some banks began rejecting wires to or from Alameda the same year that the cryptocurrency exchange scrambled to access the US banking system, the ...
-
Crypto Investors Grow Cautious After Sudden Collapse of Exchanges Last Year
Cryptocurrency investors have grown more cautious about who they do business with, after being burned last year by sudden collapses of Celsius Network, Voyager Digital, FTX and others, and fearing a regulatory crackdown will put more pressure on remaining firms. The recent crypto platform bankruptcies trapped customer assets now worth around $34 bi...
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FTX Seeks to Claw Back Over $240 Million From Embed Acquisition
Bankrupt crypto exchange FTX is seeking to claw back more than $240 million (nearly Rs. 2,000 crore) it paid for stock trading platform Embed, saying former FTX insiders did no investigation before buying the essentially worthless bug-ridden software platform. FTX closed on the Embed acquisition just six weeks before the crypto exchange collapsed ...
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Bankrupt Crypto Lender Voyager Digital Hopeful to Provide 35 Percent Customer Payout
Crypto lender Voyager Digital said Wednesday that customers will recover about 35 percent of their cryptocurrency deposits as the company winds down its operations after a failed buyout attempt by crypto exchange Binance.US. US Bankruptcy Judge Michael Wiles approved Voyager's proposed liquidation plan at a court hearing in Manhattan on Wednesday.
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Large Withdrawals by Crypto Whales Responsible for US Banking Crisis: Federal Reserve Bank of Chicago
The Federal Reserve Bank of Chicago has blamed the downfalls of BlockFi, Celsius, FTX, Genesis (in partnership with Gemini), and Voyager Digital major reasons behind the ongoing banking crisis in the US. Several crypto firms laid off staff members while the others filed for bankruptcy last year, leading to the outflows of large crypto investments.
-
FTX Gets Court Permission to Sell Its LedgerX Business to Raise Funds for Repaying Creditors
Bankrupt crypto exchange FTX received US bankruptcy court permission on Thursday to sell its LedgerX business for $50 million (nearly Rs. 408 crore), raising additional funds to repay creditors. At a hearing in Wilmington, Delaware, US Bankruptcy Judge John Dorsey signed off on FTX's sale of LedgerX, its non-bankrupt crypto derivatives trading plat...
