News with the tag "FTX claims"

As the year draws to a close, significant developments are emerging from the fallout of the defunct cryptocurrency exchange FTX, once led by convicted founder Sam Bankman-Fried. After months of anticipation, there are signs that payouts to FTX customers affected by the exchange’s collapse two years ...

In the latest development, defunct crypto lender BlockFi announced that based on their current recovery efforts, its clients could receive 100% of the eligible claims. The announcement comes at a time when the crypto lender began the sale process of its FTX claims earlier this week. BlockFi to Pay F...

Crypto lending company BlockFi, which filed for bankruptcy in 2022 following the collapse of crypto exchange FTX, announced on Monday the successful sale of its FTX claims. This marks another step towards completing BlockFi’s bankruptcy process, allowing for the final distribution of funds to credit...

According to a recent report by Bloomberg Law, the bankrupt crypto exchange once run by Sam Bankman-Fried, FTX, has reached a settlement with the Internal Revenue Service (IRS) regarding a $24 billion claim. The settlement allows FTX to pay a fraction of the amount claimed by the IRS, clearing the w...

The estate of bankrupt cryptocurrency exchange FTX has completed the sale of a substantial trove of discounted Solana (SOL) tokens, amounting to $2.6 billion. The auctions spanned several weeks and attracted buyers such as Figure Markets and Pantera Capital. These transactions mark a significant dev...

Customers of the defunct FTX crypto exchange find themselves at the center of a complex bankruptcy case with potentially promising outcomes. While the process has been far from smooth, the recent surge in the crypto market has bolstered the value of FTX’s assets, resulting in the possibility of cust...

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 Coinbas...

Half a year ago, firms specializing in acquiring troubled companies and their debts were actively accumulating FTX bankruptcy claims worth millions, offering $0.33 for every dollar of claim. Presently, the valuation of these claims has significantly appreciated, with buyers now prepared to offer $0....

Following the submission of a proposal by FTX estate debtors to reimburse customer assets based on their value as of Nov. 11, 2022, numerous objections have been raised by customers. A notable objection comes from an FTX client in France, who criticizes the estate for “depleting creditor funds by im...

The market is warming to FTX claims, with one claim going for between 52 and 53 cents on the dollar at auction on Friday.