FTX says creditors supported reorganization plan with a 95% vote
FTX chief restructuring officer and CEO John Ray III said the plan promises 100% return plus interest for non-governmental creditors. Go to Source
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FTX.com releases restructuring plan, hints at rebooted offshore exchange
Reams of dockets from FTX.com have been filed alongside a proposed reorganization plan which could see FTX resurrected as an offshore exchange. Go to Source Powered by WPeMatico
Voyager app set to reopen for customer withdrawals as soon as June 20
Customers will soon be able to load up the Voyager app and see how much will be available for withdrawal. Go to Source Powered by WPeMatico
Metropolitan Museum of Art to return $550K in donations from FTX
The agreement came on the back of “good faith, arm’s length negotiations” with FTX’s debtors, the museum said. Go to Source Powered by WPeMatico
FTX leadership sues Sam Bankman-Fried over $220M deal made prior to bankruptcy
When FTX tried to sell the platform after filing for bankruptcy, the top bid was for just $1 million, representing a 99.5% decline in value. Go to Source Powered by WPeMatico
Lawsuit against FTX celebrity promoters gets backup from former exec
Daniel Friedberg, the former top compliance chief for FTX and FTX US, has provided a declaration that could support the lawsuit. Go to Source Powered by WPeMatico
FTX lawyers: Examiner could cost $100M and ‘provide no benefit’
FTX lawyers, joint provisional liquidators of FTX.US and the Bahamas and a committee of creditors have all opposed the appointment of an independent examiner. Go to Source Powered by WPeMatico
Unredacted Financial Documents Show Blockfi’s $1.2 Billion Connection With FTX, Alameda Research
Unredacted documents mistakenly sent to the bankruptcy court indicate that the now-defunct crypto lender Blockfi had more than $1.2 billion tied up with FTX and Alameda Research. The accidentally revealed documentation shows that Blockfi’s exposure to the bankrupt crypto firm FTX was more than what the company had previously disclosed. Unredacted Documents Reveal Blockfi’s $1.2 … Read more
Debt Deflation Warnings, Shibarium Buzz Sees SHIB Rise, Former FTX US President Talks SBF, and More — Week in Review
“The Price of Tomorrow” author Jeff Booth has warned of a “great depression on steroids” if the U.S. Federal Reserve keeps hiking interest rates, while buzz about the anticipated layer two (L2) scaling solution known as Shibarium has been the backdrop for dynamic price movements in shiba inu. In other news, former FTX US president … Read more
Sam Bankman-Fried Disputes FTX US ‘Shortfall’ Claims, Critics Skeptical of Excel Spreadsheet Defense
Following an update from FTX debtors about the $5.5 billion discovered by administrators during an investigation, former FTX CEO Sam Bankman-Fried (SBF) took to Twitter to share a blog post from his Substack newsletter. SBF stated that the presentation published by litigation firm Sullivan & Cromwell is “extremely misleading” and that FTX US is solvent … Read more
