Search Results for: FTX

FTX claims that Binance, along with its former CEO Changpeng Zhao (known as "CZ"), acted fraudulently and hurt FTX's financial stability. 

The settlement with Bybit is part of a wider effort by FTX’s bankruptcy estate to recover funds and repay creditors. 

The approval, given by US Bankruptcy Judge John Dorsey on 7 October, allows FTX to use up to $16.5 billion of recovered funds to repay customers who lost their money. 

The sudden changes to the payout plan have taken a toll on many FTX customers, who are already struggling after the exchange collapsed and froze their funds. 

The settlement includes $8.7 billion in restitution and $4 billion in compensation, with the latter subject to the advance payment of all creditor claims.

FTX is the prime example of how the rise and fall of exchange platforms can be swift and dramatic in the cryptocurrency space. Launched in 2019, FTX had quickly become a popular choice among crypto traders. It offered a range of services including spot markets, derivatives, options, and leveraged products. Founded by Sam Bankman-Fried, an MIT...

This settlement is a crucial development in FTX's bankruptcy proceedings. It resolves a potential source of prolonged and uncertain litigation between the crypto exchange and its largest creditor.

The auction will follow a "blind auction" format, which differs from the direct sales methods used in previous transactions.

In a pivotal step, bankrupt crypto exchange FTX has filed to sell its 7.84% stakein AI startup Anthropic, marking a key asset liquidation effort.

Three suspects face charges in connection with the $400 million heist targeting cryptocurrency exchange FTX, occurring just hours after its bankruptcy announcement.