News with the tag "bankruptcy"

In a dramatic turn of events shaking the Asian cryptocurrency landscape, South Korean crypto lending platform Delio has disclosed a staggering debt of $258.7 million (378.7 billion won). This revelation, brought to light by bankruptcy trustee Jung Dong-hyun, has sent shockwaves through the crypto co...

The FTX saga continues to unfold, and the latest chapter is nothing short of jaw-dropping. While the collapse of the exchange sent shockwaves through the crypto world, the financial fallout is proving to be even more extensive than many anticipated. New reports reveal that the FTX bankruptcy costs a...

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...

Bankrupt cryptocurrency exchange FTX appears to owe a significant sum of money to creditors in more than twenty countries, including Ukraine. Crypto investors from more than 20 customers, including Ukraine , China , and Russia , are not eligible for FTX distributions, Sunil Kavuri, an FTX creditor, ...

Defunct crypto exchange FTX will commence its next distribution on May 30, following the initial repayment that started this week. The FTX estate will continue its creditor reimbursement by mid-2025, with more payments scheduled to roll out on May 30, per the firm’s official bankruptcy updates . Thi...

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...

The FTX estate kicked off creditor repayments on Feb. 18 at 10 a.m. Eastern Time, nearly three years after the crypto exchange collapsed. FTX began distributing funds to creditors this week, starting with “small claims” of less than $50,000, according to Sunil Kavara, a representative of the estate’...

Creditors of the collapsed cryptocurrency exchange FTX with claims below $50,000 have started receiving their payouts, which include 9% annual interest accrued since November 2022. Multiple users on the FTX subreddit have reported receiving funds on accounts at crypto exchange Kraken with the added ...

Elon Musk warns America is on the brink of financial collapse. Urgent help is needed to expose government waste before uncontrolled spending drives the nation to ruin. US Bankruptcy Looms—Elon Musk Says Only ‘Radical Action’ Can Save It The Department of Government Efficiency (DOGE) is seeking publi...

FTX will initiate repayments to Convenience Class creditors on Feb. 18, 2025, nearly three years after its November 2022 bankruptcy filing. FTX Creditors to Receive First Distributions Starting Feb. 18, 2025 Eligible creditors in FTX’s Convenience Classes can expect funds within 1-3 business days st...