News with the tag "FTX Creditors"

FTX customers have filed an updated class action lawsuit against law firm Fenwick & West, alleging it played a key role in the $8 billion fraud by creating fraudulent corporate structures and enabling the misuse of customer funds.

FTX will begin its next round of cash payouts to creditors on September 30, 2025, after reducing its disputed claims reserve by $1.9 billion, while facing opposition from a Chinese creditor over global payout restrictions.

Backpack has launched a non-profit FTX debt marketplace to allow creditors to sell bankruptcy claims, amid FTX's $6.2 billion recovery progress, while facing challenges in restricted jurisdictions.

FTX is seeking court approval to dispute claims from 49 restricted jurisdictions, with Chinese users accounting for 82% of the total value despite constituting only 5% of allowed claims, while facing legal hurdles in distribution.