The defunct cryptocurrency exchange, FTX, has announced the commencement of the second phase of fund distribution to creditors, aiming to disburse over $5 billion in assets. This initiative […]
FTX to Pay $5 Billion to Creditors in May 2025
FTX has announced a significant step towards repaying its creditors, outlining a $5 billion distribution plan for May 2025. The company’s commitment to fulfilling financial obligations is being […]
FTX to Distribute Over $5 Billion in Second Payment to Creditors
The cryptocurrency exchange FTX, now in Chapter 11 bankruptcy, is set to distribute over $5 billion in a second payment to creditors on May 30th. This move marks […]
FTX Lawsuits NFT Stars & Delysium for Unpaid Tokens in Bankruptcy Pursuit
FTX Trading Ltd. and the FTX Recovery Trust have filed legal action against NFT Stars Limited and KUROSEMI INC., the creators of Delysium, a Web3 gaming platform. The […]
FTX Takes Legal Action to Recovered $1 Billion, Seeking Funds from Token Issuers
In a move aimed at recovering funds owed to creditors during its bankruptcy proceedings, FTX has initiated legal actions against two token issuers. The company alleges that these […]
Crypto Bankruptcy Inquiries Signal Market Uncertainty
LegalShield reveals a surge in bankruptcy inquiries within the cryptocurrency industry during Q1, prompting concerns about market health amid ongoing geopolitical uncertainties. This trend highlights potential financial distress […]
HashFlare Founders Ordered To Leave U.S., Contradicting Court Ruling
The U.S. Department of Homeland Security (DHS) has ordered the founders of bankrupt cryptocurrency mining company HashFlare, Sergei Potapenko and Ivan Turõgin, to leave the country immediately. This […]
FTX Dismantles Over $2.5 Billion in Claims Due to KYC Noncompliance
FTX has disqualified nearly 400,000 customer claims worth over $2.5 billion due to failure to verify identities through the Know-Your-Customer (KYC) process. The exchange’s action affects creditors with […]
FTX Rejects Claims From Over 392,000 Users After KYC Deadline Missed
Over 392,000 former FTX users have had their claims for recovery rejected after missing a crucial deadline to verify their identities. According to court filings, these individuals failed […]
FTX Customer Claims Disqualified: Nearly $2.5 Billion Wiped Out
In a significant development for the FTX bankruptcy process, nearly 400,000 customer claims worth up to $2.5 billion have been disqualified following missed KYC deadlines. This massive disqualification […]
BlockFi Customers Urged to Claim Assets by Deadline
Customers of BlockFi, a recently bankrupt cryptocurrency lending platform, are facing a tight deadline for claiming their assets. As reported by PANews, the company’s official announcement states that […]
FTX Starts Repayment to Main Creditors: $11.4 Billion Cash Funds to Be Used
FTX, after its collapse in November 2022, is initiating payments to its main creditors using approximately $11.4 billion in recovered funds. The company will begin with a payment […]
FTX to Make $11.4 Billion Debt Payment, Largest Insolvency Case in History
Cryptocurrency exchange FTX has announced plans to repay its creditors a record-breaking $11.4 billion by May 2025, marking one of the largest payouts from bankruptcy ever seen in […]
FTX Begins Major Repayments: Bitcoin Claims at 20% Value
FTX is set to initiate major repayments starting May 30, with a focus on settling Bitcoin claims. The move represents a significant step in the company’s bankruptcy process […]
Lawyers Rake In Billions From FTX Bankruptcy
The legal battle surrounding the collapse of FTX has resulted in a staggering $1 billion in fees, as lawyers navigate the complex case and customer reimbursement efforts. This […]