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 ...
Defunct crypto lender Celsius Network has appealed a recent court ruling that dismissed its $444 million damages claim against FTX, according to activists representing FTX creditors. According to court filings, Celsius initially sought up to $2 billion in damages, accusing FTX officials of making “unsubstantiated and disparaging statements” about its ...
Speculation is growing about the possibility of a presidential pardon for Sam Bankman-Fried (SBF), the disgraced founder and former CEO of the collapsed crypto exchange FTX. The conversation gained traction following comments by tech mogul Elon Musk on an X post suggesting an early pardon for Bankman-Fried. "I will be ...
United States prosecutors are pushing to seize nearly $18.5 million worth of cryptocurrencies linked to alleged bribes paid by FTX co-founder Sam Bankman-Fried to Chinese officials. A November 12 court filing in the New York District Court alleges that the funds, currently in a Binance account, were initially valued at ...
In its ongoing attempt to recover assets amid its bankruptcy proceedings, the FTX bankruptcy estate has launched a $1.8 billion lawsuit against Binance and its former CEO, Changpeng “CZ” Zhao. In a filing on November 10, the complaint accuses Binance executives of receiving a substantial $1.76 billion in a “fraudulent ...
Gary Wang, former FTX co-founder and technology chief, has requested no jail time in a sentencing memo filed on November 6, citing his significant cooperation in securing Sam Bankman-Fried's conviction. Wang, who served as a key witness against Bankman-Fried, argued that his testimony was vital to the U.S. government’s successful ...
Cyprus's Securities and Exchange Commission (CySEC) has extended its suspension of FTX Europe's operations for a fourth time, delaying any potential revival of the platform. The latest extension, announced on November 5, pushes the suspension out by another six months, maintaining the ban until May 30, 2025. Under this directive, ...
Californian investor Nikolas Gierczyk has filed a lawsuit against hedge fund Olympus Peak, accusing the firm of failing to honour an agreement related to an FTX bankruptcy claim. According to a Bloomberg report, Gierczyk claims the hedge fund owes him over $1 million in excess recovery, citing expectations of a ...
