2022-11-20 21:45 |
Businesses exposed to Sam Bankman-Fried’s bankrupt cryptocurrency exchange are beginning to topple.
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The filing alleges that FTX was already insolvent and the FTT tokens used in a share repurchase transaction were worthless, and therefore the transfer should be classed as fraudulent.
The costly meltdown of global exchange FTX is still settling big chunks of its bankruptcy drama, now securing about $228 million from Bybit to further feed the cash dispersal that was approved in court earlier this month.
Bankrupt cryptocurrency exchange FTX has proposed a new reorganization plan that would see a whopping 98% of its creditors get back 118% of their claims – in cash – within 60 days of court approval, according to new documents filed Tuesday evening.
AI firm Anthropic has blocked Saudi Arabia from engaging in the sale process of 8% of its shares — currently owned by defunct crypto exchange FTX, CNBC reported on March 22, citing people familiar with the matter.
John J. Ray III Fires Back Against SBF’s ‘Delusional’ Claims Customers Lost No Money in FTX Collapse
London-based investment firm Attestor Capital, a top holder of FTX bankruptcy claims, has filed suit against a FTX creditor who allegedly promised to sell the firm two FTX accounts, only to back out of the deal once the value of its claims skyrocketed.
Gemini told the New York Department of Financial Services it would return at least $1.1 billion to its Earn customers after Genesis Global Capital wraps up its bankruptcy process, according to NYDFS.