A US bankruptcy judge approves repaying FTX customers, and FTX is in talks over $1B in seized US assets; in June 2024, FTX had $12.6B, which may rise to $16.5B
Bloomberg :
FTX says it will have as much as $16.3B to distribute after selling all of its assets; FTX owes ~$11B to 2M+ customers and other non-governmental creditors
- Crypto customers to get interest on what FTX owes them — Bankrupt firm updates plan to divide cash among creditors
The FTX estate floats an amended proposal to return up to 90% of creditor holdings, divided into three pools, and plans to formally file the plan by December 16
An amended proposal released early Tuesday will be filed by the FTX Debtors by mid-December if approved.
The FTX estate floats an amended proposal to return up to 90% of creditor holdings, divided into three pools, and plans to formally file the plan by December 16
An amended proposal released early Tuesday will be filed by the FTX Debtors by mid-December if approved.
Hackers access some customer data at FTX, Genesis, and BlockFi by SIM swapping an employee of Kroll, which manages creditor claims for the bankrupt companies
We were recently informed that on Saturday, August 19, 2023 … Bill Toulas / BleepingComputer : Kroll data breach exposes info of FTX, BlockFi, Genesis creditors Pierluigi Paganini ...
FTX, Genesis, and BlockFi customer data is compromised after a SIM swap against an employee of Kroll, which manages creditor claims for the bankrupt companies
A ‘cybersecurity incident’ affected Kroll, which gathers customer claim data on behalf of bankrupt companies. — Register Now
FTX's bankruptcy team says the exchange owed its customers ~$8.7B after commingling and misusing their deposits, and has recovered ~$7B in liquid assets so far
Jesse Hamilton / CoinDesk :
FTX files a lawsuit against Grayscale, CEO Michael Sonnenshein, DCG, and Barry Silbert, citing $1.3B+ in “exorbitant management fees” and seeking $550M+ shares
- FTX' debtors are suing Grayscale Investment, its owners and its CEO over their handling of the Grayscale Bitcoin …
A presentation in FTX's Chapter 11 case shows the crypto exchange identified ~$2.2B of assets in FTX.com wallets and a ~$9.3B net borrowing by Alameda Research
A presentation in FTX's Chapter 11 case shows the exchange has identified assets of ~$2.2B in FTX.com wallets and a ~$9.3B net borrowing by Alameda Research
So far, $2.2 billion in assets have been identified in the wallets of accounts associated with FTX.com, of which only $694 million are in the most liquid assets.
FTX identifies ~$5.5B in “liquid” assets for recovery, including $415M in “unauthorized third-party transfers” possibly tied to a hack found after its collapse
- FTX has identified about $5.5 billion worth of digital assets for recovery, a number that includes $415 million in “hacked crypto.”
The Bahamas' Securities Commission says it is holding FTX assets worth $3.5B temporarily and plans to deliver them to customers and creditors who own them
The Securities Commission of the Bahamas said on Thursday that it is holding FTX assets worth $3.5 billion based on market pricing …
FTX says it would seek the return of its digital assets held by the Bahamas, claiming the value was ~$296M when transferred on November 12 and is now ~$167M
- FTX Trading and its affiliated debtors said Friday that they would seek the return of crypto held by the Securities Commission …
Source: Sam Bankman-Fried agrees voluntarily to be extradited to the US, where he faces criminal and civil charges like conspiracy, fraud, and money laundering
Former crypto CEO's decision could expedite the criminal and civil cases against him — NASSAU, Bahamas …
FTX plans to recoup political donations by Sam Bankman-Fried and his associates, estimated at $70M+ in the 2021-2022 election cycle, to help repay creditors
Crypto group's new management says if funds are not returned voluntarily it will pursue recipients in court
FTX CEO John Ray III plans to attempt to sell or reorganize its businesses after a review found many of its subsidiaries have “solvent balance sheets”
Many of collapsed crypto group's subsidiaries have ‘solvent balance sheets’, John Ray III says
A look at the dispute between FTX's new management and Bahamian regulators over who should control the company's assets, and how the fight may affect customers
Liquidators in the Bahamas are embroiled in a dispute with FTX over who has control over crypto assets held in the country
Filings: FTX CEO John Ray III, who ran Enron's bankruptcy process, slams SBF's “unprecedented” management, describing a “complete failure of corporate controls”
Programming note: Money Stuff will be off tomorrow, back on Monday. Rohan Goswami / CNBC : Bahamas regulators confirm they're holding some of FTX's assets Laurie Dunn / Crypto Dail...
The wildest parts of FTX's bankruptcy filing: its token holdings are worth $659K, Alameda loaned SBF $3.3B, SBF auto-deleted messages about decisions, and more
Lawyers for the bankrupt crypto exchange FTX filed today in Delaware, asking a federal judge to transfer a competing bankruptcy case filed …
Bankruptcy filings: FTX CEO John J. Ray III, who oversaw Enron, condemns SBF's “unprecedented” management, describing a “complete failure of corporate controls”
The former FTX CEO's unconventional style is under the spotlight as bankruptcy professionals pore over the exchange's collapse.