BlockFi, a centralized crypto lender, recently shut down its web platform and selected Coinbase as its distribution partner for customer fund withdrawals. The move comes as BlockFi aims to ensure a swift transition for eligible customers following the closure of its platform. BlockFi Selects Coinbase As Exclusive Partner According to the company’s press release on […]
In a surprising turn of events, bankrupt cryptocurrency exchange FTX recently announced a new repayment plan to reimburse creditors and customers in full. The plan also includes a substantial compensation offer to account for the time value of their investments. While customers initially expected to be the primary beneficiaries, the biggest winners in this repayment […]
Asset management firm Pantera Capital has emerged as one of the successful bidders in an auction of discounted Solana (SOL) tokens conducted by the liquidators overseeing the bankruptcy of the former FTX cryptocurrency exchange. The sale, which included approximately 2,000 SOL tokens, signifies Pantera Capital’s continued interest in expanding its Solana portfolio. FTX Sells Additional […]
Battle Over ‘Sam Coins’: FTX Customers Demand Millions From Bankrupt Crypto Firm | Bitcoinist.com
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FTX customers are demanding substantial payouts from the bankrupt crypto firm. These customers claim three digital tokens, known as “Sam Coins,” deserve a higher value despite their association with convicted co-founder Sam Bankman-Fried. Investors Push For Higher Valuation According to a Bloomberg report, the investors holding tokens called Serum, MAPS, and OXY are urging US […]
Bankrupt crypto exchange FTX will sell two-thirds of its stake in artificial intelligence (AI) startup Anthropic for $884 million, according to a Bloomberg report. The move comes as FTX seeks to repay its creditors and bolster its cash reserves. The sale involves various buyers, including ATIC Third International Investment Company LLC, associated with the United […]
London-based boutique distressed asset trading firm Attestor Ltd. experienced a significant bonanza as the value of crypto assets purchased from Sam Bankman-Fried’s FTX crypto exchange soared. According to a Bloomberg report, Attestor’s trade became the talk of distressed investing circles as profits multiplied at an astonishing rate – 50%, 100%, and even close to 200%. […]
A group of FTX investors have instituted a proposed class action against US law firm Sullivan & Cromwell for their role in the bankrupt crypto exchange’s fraud against its customers. The law firm is known to have worked for the crypto exchange during its rise to prominence, and now the plaintiffs argue that they are […]
A United States Judge has granted the request of FTX, the bankrupt cryptocurrency exchange, to sell off its substantial stake in an Artificial Intelligence (AI) startup company, Anthropic, enabling the exchange to accumulate more funds to repay its customers. FTX To Sell $1 Billion Anthropic Stake On Thursday, February 22, US bankruptcy Judge John Dorsey […]
In an interesting development, FTX creditors have launched a class action lawsuit against Sullivan and Cromwell (S&C), the law firm that is currently responsible for handling the bankruptcy proceedings of the defunct exchange. In a petition submitted on February 16 to the US District Court of the Southern District of Florida, S&C is accused of […]
A group of creditors of the bankrupt crypto exchange FTX filed an adversary lawsuit in response to the proposed payout plans, seeking to establish that deposits are their property rather than FTX’s. The proposed plan of the defunct exchange would see creditors repaid based on November 2022 prices of digital assets, which are significantly lower […]
In a recent court hearing in Delaware, the failed crypto exchange FTX announced its decision to abandon efforts to restart its crypto exchange and instead liquidate all assets to refund its customers, according to an attorney representing the company. Per a Reuters report, FTX had negotiated with potential bidders and investors for several months. Still, […]
FTX-Linked Billionaire Joe Lewis Pleads Guilty To 19 Fraud Charges In The US | Bitcoinist.com
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In a significant development, billionaire Joe Lewis, formerly associated with bankrupt crypto exchange FTX and known for owning a Premier League football club, has pleaded guilty to 19 fraud charges related to insider trading in the United States. Lewis, who had sold over $76 million worth of property in the Bahamas to Sam Bankman-Fried, the […]