FTX Bankruptcy – Ƀitsell X

FTX Loaned Millions to Australian Influencer to Ward Off Potential Litigation, Bankruptcy Report Reveals

June 9, 2024

According to a bankruptcy report from FTX, the defunct cryptocurrency exchange loaned an Australian influencer slightly more than $13 million. This loan was intended to assist him in repaying investors. The exchange proposed lending Saunders millions of dollars to prevent potential harm to its reputation and avoid litigation. Bankruptcy Report Contradicts Saunders’ Previous Assertions The…
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FTX Transfers $8.3M a Day Before Amended Proposal Deadline for Restructuring Plan

May 7, 2024

A May 6 transfer of $8.3 million associated with the now-bankrupt FTX exchange and its sister trading firm, Alameda Research, has raised questions about the future of creditors awaiting compensation. The transfer occurred just a day before FTX debtors were scheduled to release an amended restructuring plan for the exchange, adding a layer of intrigue…
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FTX Estate Set To Auction Locked Solana Tokens, Figure CEO Mike Cagney Says

April 22, 2024

Figure CEO Mike Cagney alleged in a Saturday X post that the FTX estate is set to auction off the next lot of its long-awaited locked Solana tokens. Just got confirmation that the next round of locked #solana coins from the #FTX estate will be an auction, with exact details coming Monday. If you want…
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Sam Bankman-Fried Issues First Statement Since Sentencing: “I Never Thought What I Was Doing Was Illegal,” ABC News Reports

April 2, 2024

Former “king of crypto” Sam Bankman-Fried is speaking out following his sentencing last week that saw the FTX founder nab 25 years in prison, telling ABC News in an April 1 interview that he “never thought” his actions were criminal. Sam Bankman-Fried Denies Criminality “I’m haunted everyday by what was lost,” Bankman-Fried told ABC News.…
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Sam Bankman-Fried Breaks Silence: ‘Haunted’ by FTX Collapse, Vows to Appeal and Criticizes Legal Process

April 1, 2024

The fallen founder of FTX, Sam Bankman-Fried (SBF), broke his silence for the first time since being sentenced to 24.25 years in prison, engaging in an email conversation with ABC News. SBF expressed that he is “haunted” daily by the events that transpired, emphasizing his stance that he “never intended to hurt anyone.” Former FTX…
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FTX Liquidators Target Repayment to Creditors by End of 2024

April 1, 2024

The FTX bankruptcy estate has outlined its target to initiate repayments to customers by the end of 2024, as disclosed during a meeting of FTX Digital’s Joint Official Liquidators in the Bahamas. The FTX bankruptcy consists of two distinct processes, including the Chapter 11 bankruptcy being overseen by a Delaware court in the United States…
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Former FTX Executives and Promoters To Pay $1.35 Million in Lawsuit Settlement Deal

March 29, 2024

Following Sam Bankman-Fried’s sentencing, former FTX executives and promoters agreed to a $1.3 million class action lawsuit settlement, according to court documents filed yesterday. Former head of engineering for FTX, Nishad Singh, Alameda Research CEO, Caroline Ellison, chief technological officer for FTX, Gary Wang, and seven promoters of the bankrupt exchange have all agreed to…
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How Many Years Will Sam Bankman-Fried Get In Prison, Really?

March 23, 2024

Set to be sentenced next week, disgraced FTX founder Sam Bankman-Fried is facing charges that carry a total maximum penalty of over 100 years in prison – but what sentence will he actually get? In the defense’s sentencing recommendation released late last month, Bankman-Fried’s camp pushed for a maximum prison sentence of just over six…
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FTX CEO Slams Attempt to Reduce SBF’s Sentence, Highlights Ongoing Suffering of Victims

March 21, 2024

John Ray III, the CEO and restructuring officer of FTX, has criticized an attempt made by Sam Bankman-Fried’s lawyers to reduce his sentence, emphasizing that the victims of the fraud “have suffered and continue to suffer.” On Wednesday, Ray penned a victim impact statement, addressing Judge Lewis Kaplan on behalf of FTX and its “millions of…
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FTX Users Seek Return of Crypto Assets, Not Dollars

March 21, 2024

In a collection of letters, FTX users around the globe have asked for their crypto assets instead of being reimbursed with US dollars. In letters submitted to the federal judge presiding over the criminal case against Sam Bankman-Fried, the founder of the crypto exchange, FTX users expressed the desire to receive their cryptocurrencies back. They said that they had…
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Category: FTX Bankruptcy