Failure to complete required KYC documents could cost some victims a lot of money Nearly 400,000 former users of the failed crypto exchange FTX could lose out on more than $2.5 billion in repayments due to not starting the required identity verification process. According to a recent filing in the US Bankruptcy Court in Delaware,
The exchange has received approval to bring FTX back to life in Europe Backpack, a centralized cryptocurrency exchange founded by former employees of Alameda Research and FTX, has acquired FTX EU, the European division of the now-defunct FTX exchange. This acquisition has received approval from both the FTX bankruptcy court and the Cyprus Securities and
A court has denied two legal actions brought forward by the crypto lending platform against FTX Celsius, the collapsed cryptocurrency lending platform, has filed a notice of appeal against a court decision that disallowed its claims for damages from FTX. The appeal challenges a ruling by Judge John T. Dorsey, which rejected Celsius’ efforts to
The defunct cryptocurrency exchange believes Binance conducted fraudulent transactions FTX launched a lawsuit against Binance and its former CEO, Changpeng Zhao, claiming that $1.8 billion in “fraudulent transfers” were made to Binance and its executives. The lawsuit hinges on a 2021 transaction where Binance sold back its stake in FTX, acquired in 2019, to FTX
Nishad Singh was sentenced to time served and three years supervised release Nishad Singh, a former engineering director at failed cryptocurrency exchange FTX, avoided prison time following a plea deal, receiving a sentence of time served and three years of supervised release. The sentence, announced by Judge Lewis Kaplan in the Southern District of New
The bankrupt crypto exchange will be able to recover some of the funds it needs to pay creditors The FTX bankruptcy estate has reached a $228 million settlement with the Bybit cryptocurrency exchange, marking a step forward in efforts to recover assets for creditors affected by the exchange’s collapse. This agreement, filed on October 24,
Sam Bankman-Fried’s ex-girlfriend gets off light after cooperating with the investigation Caroline Ellison, the former CEO of Alameda Research, was sentenced to two years in a minimum-security prison yesterday for her involvement in the collapse of FTX, the cryptocurrency exchange. The sentencing was delivered by Judge Lewis Kaplan of the District Court of Southern New
The bankrupt cryptocurrency exchange continues to resolve its debts FTX, the bankrupt cryptocurrency exchange, has reached an agreement with Emergent Fidelity Technologies in a dispute over ownership of more than $600 million worth of Robinhood shares. Emergent, co-founded by FTX’s Sam Bankman-Fried, had been entangled in a legal battle over 55 million shares of Robinhood,
The securities regulator doesn’t want creditors to be paid in stablecoins The US Securities and Exchange Commission (SEC) has raised concerns about FTX’s proposed payout plan for its creditors, indicating that it might take legal action to prevent certain aspects of the plan. The regulator specifically highlighted its reservations about FTX’s intention to repay creditors
The two have agreed to a $12-billion fine that still needs a court’s approval The saga of bankrupt cryptocurrency exchange FTX continues with a recently announced $12.7 billion settlement with the US Commodity Futures Trading Commission (CFTC). This agreement, if approved by the court, resolves a 19-month lawsuit that alleged fraud and misrepresentations by FTX.
The proposal could lead to some creditors losing money, not recovering it FTX’s bankruptcy reorganization plan is being rejected by a group of creditors led by Sunil Kavuri. Several grounds for dismissing the plan were cited, including the contention that the settlement doesn’t serve creditors’ best interests. The group asserted that being reimbursed with cash
The taxman will still have to wait to receive the money from the failed crypto exchange FTX has reached an agreement with the US Internal Revenue Service (IRS) to settle the debt with its largest creditor. In the filing dated June 3, the bankrupt cryptocurrency exchange agreed to settle the $24-billion IRS claim, which was
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