Ftx Bankruptcy

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'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.

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 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. 

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.

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 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...

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 ...

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...

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 ...

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.

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.

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...

Coinbase Global launched an international exchange for cryptocurrency derivatives on Tuesday, as the company looks to expand its global footprint amid escalating tensions between the crypto sector and regulators in the United States.

FTX on Tuesday announced that it had reached an agreement to sell LedgerX, the bankrupt crypto exchange's crypto derivatives platform to an affiliate of Miami International Holdings. The crypto firm will seek approval for the sale of its platform in a deal worth $50 million (roughly Rs. 400 crore) in a US bankruptcy court on May 4.

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'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.

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 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. 

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.

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 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...

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 ...

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...

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 ...

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.

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.

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...

Coinbase Global launched an international exchange for cryptocurrency derivatives on Tuesday, as the company looks to expand its global footprint amid escalating tensions between the crypto sector and regulators in the United States.

FTX on Tuesday announced that it had reached an agreement to sell LedgerX, the bankrupt crypto exchange's crypto derivatives platform to an affiliate of Miami International Holdings. The crypto firm will seek approval for the sale of its platform in a deal worth $50 million (roughly Rs. 400 crore) in a US bankruptcy court on May 4.