News with the tag "FTX bankruptcy"

The FTX bankruptcy case has reportedly cost up to $1 billion in fees so far, making the case one of the most expensive bankruptcy cases in America. This comes amid the exchange’s recent move to start repaying customers. FTX Bankruptcy Case Costs $1 Billion In Fees According to a Bloomberg report , t...

FTX Trading Ltd. (FTX.com) and the FTX Recovery Trust have announced the next distribution date for customer and unsecured claims. The company has begun initial distributions to holders of approved claims in FTX’s Convenience Classes under its Chapter 11 Plan of Reorganization. FTX Next Distribution...

After nearly three years of uncertainty, FTX, once a dominant player in the cryptocurrency exchange arena, is set to initiate the repayment process for its Bahamas-based creditors on February 18. This long-awaited move comes in the wake of the exchange’s filing for bankruptcy in November 2022, follo...

Bankrupt crypto exchange FTX is preparing to distribute over $1.2 billion in repayments to its users who have been unable to access their funds for more than two years. Users owed up to $50,000 worth of digital assets have until January 20, 2025, to meet the pre-distribution requirements necessary t...

The ownership of FTX EU has become a point of contention between Backpack Exchange and the FTX estate.

FTX issued a formal statement clarifying details surrounding Backpack entities’ claim of acquiring FTX EU Ltd. The clarification, released on January 8, 2025, addresses inaccuracies in Backpack’s January 7 press release, which suggested its involvement in asset recovery for former FTX EU customers. ...

In a move to bolster its presence in the European market, Backpack Exchange, a crypto trading platform established by former employees of Sam Bankman-Fried’s FTX and Alameda Research, has acquired the European entity of the defunct FTX exchange for $32.7 million. As earlier reported by Bloomberg, th...

The leading crypto platform, Backpack Exchange, said it has acquired FTX EU, the European arm of the defunct FTX Exchange. This acquisition, approved by the FTX bankruptcy court and the Cyprus Securities and Exchange Commission (CySEC), reflects the exchange’s move to dominate Europe’s regulated cry...

Rumors are swirling through the cryptocurrency community regarding the commencement of FTX’s long-awaited $16 billion repayment plan to creditors, a move that has garnered both excitement and skepticism. As the defunct exchange, once led by the now-convicted Sam Bankman-Fried, prepares to initiate t...

FTX has begun the process of distributing funds to creditors under its Chapter 11 Plan of Reorganization. The plan, effective as of January 3, 2025, marks a major step in resolving the fallout from the cryptocurrency exchange’s collapse in November 2022. The initial record date for holders of allowe...