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 […]

FTX Set To Cash In $884 Million From Majority Stake Sale In Anthropic | Bitcoinist.com

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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 […]

FTX Bankruptcy Trade Turns Into Legal Showdown As Profits Soar By 200% | Bitcoinist.com

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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%. […]

Sam Bankman-Fried Fraud: FTX Users Drop Bombshell Lawsuit On Bankruptcy Lawyers | Bitcoinist.com

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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 […]

FTX Creditors Rejoice: Bankrupt Crypto Exchange Is Adding $1 Billion To Its Balance Sheet | Bitcoinist.com

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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 […]

FTX Exchange Saga: Law Firm Handling Bankruptcy Accused Of Complicity In Fraud

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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 […]

FTX Faces Lawsuit From Creditors Challenging $16,000 Bitcoin Repayment Plan | Bitcoinist.com

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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 […]

FTX Abandons Hope For Restart, Focuses On Asset Liquidation To Repay Customers | Bitcoinist.com

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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 […]

Bankrupt FTX Stirs Controversy With Repayment Plan: Bitcoin Valued At $16,000 For Customers | Bitcoinist.com

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In a recent filing on December 27, bankrupt cryptocurrency exchange FTX unveiled its repayment plan, triggering customer outrage and discontent. The plan, which values customers’ digital assets at the time of FTX’s collapse, offers a value significantly lower than prevailing market prices. FTX Under Fire The filing by FTX stated that the repayment plan aims […]

Ripple Claims $11 Million In FTX Bankruptcy Case, Bolstering Legal Position | Bitcoinist.com

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In a significant legal development within the ongoing bankruptcy case of defunct crypto exchange FTX, Ripple, the blockchain payment company, has emerged victorious with a claim on FTX assets. Notably, Ripple Singapore is the party making the claim against Alameda assets in the legal battle. Ripple Singapore Asserts Rights To FTX Assets The filing with the […]

FTX Digital Markets Secure Global Settlement: Positive Outcome For Customers? | Bitcoinist.com

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In a significant development, FTX Debtors and FTX Digital Markets have announced a global settlement agreement with the Joint Official Liquidators (JOLs) representing FTX Digital Markets.  The settlement, subject to court approvals, addresses the complex legal challenges arising from the collapse of the FTX group and proposes a mutually beneficial solution. Consensual Resolution Achieved The […]