$1.5B in Crypto Still Sits in the Ruins of Firms Like FTX, Terraform, Celsius, and Blockfi
Over the past few years, a wave of digital asset firms collapsed for a mix of reasons—some dragged down by earlier disasters like the FTX and Terraform Labs fiascos. Here’s a closer look at a handful of wallets tied to those now-defunct ventures and a glimpse at what’s still sitting onchain. Collapsed Crypto Entities Still […]
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 plan. Distribution Date Set for FTX’s $5B Creditor Repayment The distribution, the second under FTX’s reorganization plan, will pay creditors across multiple claim classes. Class […]
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 cryptocurrency platform’s 2022 collapse. Mashinsky’s Lawyers Push for Leniency in Sentencing Memo In a 30-page filing to the Southern District of New York (SDNY), Alex […]
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 week. Bankrupt FTX Creditors to Receive Payouts Having sought Chapter 11 protection in November 2022 amid a liquidity shortfall and fraud disclosures, the firm has […]
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 Musk Says Only ‘Radical Action’ Can Save It The Department of Government Efficiency (DOGE) is seeking public assistance in reducing waste and fraud. Tesla and […]
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, 2025 Eligible creditors in FTX’s Convenience Classes can expect funds within 1-3 business days starting Feb. 18, according to a Feb. 7 announcement. Distributions are […]
Backpack Exchange acquires FTX EU, plans Q1 2025 launch
Backpack EU will be responsible for distributing court-approved FTX bankruptcy claims to FTX EU customers as part of the acquisition.This post was originally published on this site
Celsius to appeal order that disallowed its $444M claim against FTX
The crypto lender made two claims, both of which were dismissed by Judge Dorsey for various reasons, including procedural shortcomings.This post was originally published on this site
Bankrupt Cryptopia exchange distributes $225M to hack victims
Initially owing creditors $4.2 million, Cryptopia’s liquidator Grant Thornton has distributed at least $225 million in crypto to hack victims in December.This post was originally published on this site
Bankrupt Cryptopia exchange distributes $225M to hack victims
Initially owing creditors $4.2 million, Cryptopia’s liquidator Grant Thornton has distributed at least $225 million in crypto to hack victims in December.This post was originally published on this site