Disgruntled former customers of the collapsed crypto exchange FTX are seeking to strengthen their lawsuit against Fenwick & West, accusing the law firm of playing a pivotal role in the exchange’s downfall. In a proposed amended complaint filed on August 11, the plaintiffs claim fresh evidence from Sam Bankman-Fried’s criminal ...
Former Binance CEO Changpeng “CZ” Zhao has filed a motion in the U.S. Bankruptcy Court for the District of Delaware seeking dismissal from a $1.76 billion clawback lawsuit initiated by the FTX bankruptcy trust, according to Bloomberg Law. The suit, filed in November 2024, accuses Binance and its executives of ...
Backpack has rolled out a dedicated portal to help FTX creditors sell their debt claims directly to institutional buyers. The launch was announced on July 18 via Backpack’s Chinese X account, positioning the initiative as a “non-profit, neutral” solution for those still reeling from FTX’s dramatic collapse in 2022. Backpack ...
FTX and FTX Digital Markets (FTX DM) have appointed Payoneer as a new distribution service provider to support the payout of customer recoveries amid ongoing bankruptcy and liquidation proceedings. With this move, Payoneer becomes the third official provider for FTX distributions, joining BitGo and Kraken, and the second provider assisting ...
Binance has filed a motion to dismiss a $1.76 billion clawback lawsuit brought by FTX’s bankruptcy trustee. The lawsuit alleges that Binance improperly withdrew funds from FTX before its collapse in late 2022. Binance argues that the claims are “legally deficient” and should be thrown out. Binance Seeks Dismissal of ...
FTX Trading Ltd. and the FTX Recovery Trust have filed lawsuits against NFT Stars Limited and KUROSEMI INC., the company behind the Web3 gaming platform Delysium, accusing them of breaching contract terms by withholding tokens owed to the bankrupt crypto exchange’s estate. According to an April 28 announcement, the complaint, ...
Backpack, a cryptocurrency exchange founded by former FTX executives, has officially opened the fund claim process for FTX’s European customers as part of the broader effort to distribute recovery funds from FTX’s bankruptcy. In an April 1 announcement, Backpack unveiled a two-step process for FTX EU customers to reclaim their ...
The bankrupt crypto exchange FTX has officially begun repaying creditors, but concerns are growing as investors from 26 countries—including Ukraine, China, and Russia—have been deemed ineligible for distributions. On February 18, FTX began its first round of repayments, targeting customers who lost up to $50,000 in the exchange’s collapse. This ...
A U.S. federal court has finalized the forfeiture of $1 billion in assets from Sam Bankman-Fried, the disgraced co-founder of FTX, marking a major step in efforts to compensate victims of the exchange's collapse. The ruling, issued on February 19, 2025, by the U.S. District Court for the Southern District ...
Kraken is stepping up to assist former FTX clients by offering trading incentives as part of the fund distribution process following FTX's collapse. Eligible users who choose the crypto exchange to receive their payout will gain access to up to $50,000 in fee-free crypto trading on Kraken Pro, the platform ...
