Tag: FTX

A New York judge has granted final approval for FTX and its sister trading firm Alameda Research to repay $12.7 billion to FTX creditors.

BlockFi announced on an X post that these distributions will start in July and last in batches over the next months.

The role of the family of Sam Bankman-Fried (SBF) in the misappropriation of $100 million from FTX has just been uncovered by WSJ

Silvergate has agreed to a $50 million civil penalty, while Lane and Fraher have agreed to pay $1 million and $250,000, respectively.

BitFlyer Holdings is in advanced negotiations to purchase FTX Japan. The company plans to acquire all shares of FTX Japan.

FTX Derivatives Exchange has completed the sales of its Solana (SOL) stack to firms like Pantera Capital and Figure

The FTX debacle has also triggered a global wave of regulatory scrutiny, with governments rushing to implement stricter frameworks.

The senators' letter specifically requested detailed accounts of all meetings, phone calls, and conversations between CFTC staff and FTX.

FTX founder SBF outlined 19 initiatives aimed at altering the social media narrative surrounding the crypto exchange's dramatic downfall.

Bankman-Fried, founder of FTX, was found guilty on seven charges, including wire fraud, securities fraud, and money laundering conspiracy. 

BlockFi filed for Chapter 11 bankruptcy protection in 2022, attributing its financial challenges to the collapse of FTX the same year.

FTX has decided to sell FTX Europe back to its original owners for a sum of $33 million, significantly less than it purchased it for.

Sam Bankman-Fried, the FTX founder, agreed to conflict-free legal representation with lawyers Marc Mukasey and Torrey Young.

FTX along with its sister trading firm, Alameda Research, have been accused of trying to sell Tether (USDT) for profit. 

FTX has placed a reverse termination fee of $50,000 to safeguard against any potential transactional hiccups in the sale of the subsidiary.

Former SEC official John Reed Stark sarcastically said that each member of the FTX legal team can now afford a beach house.

The AI firm is currently valued at $18 billion, which brings the total value of shares held by the FTX estate to $1.4 billion.

The exchange's restructuring plans are not focused on creating an FTX “reboot” but rather on repaying the creditors in full.