Backpack Exchange acquires FTX EU, plans Q1 2025 launch
Backpack EU will be responsible for distributing court-approved FTX bankruptcy claims to FTX EU customers as part of the acquisition. Go to Source
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FTX’s payment plan is now effective — When will users see their funds?
According to the plan, certain FTX users claiming less than $50,000 could expect to see their funds returned within 60 days. Go to Source
Celsius to appeal order that disallowed its $444M claim against FTX
The crypto lender made two claims, both of which were dismissed by Judge Dorsey for various reasons, including procedural shortcomings. Go to Source
Former FTX executive Ryan Salame’s prison sentence reduced by 1 year
Bureau of Prison records indicate that former Alameda Research CEO Caroline Ellison’s sentence was also reduced by three months. Go to Source
Bitgo, Kraken Partner With FTX for Jan. 3 Payment Distribution
FTX Trading Ltd. (FTX) and its affiliated debtors have locked in Jan. 3, 2025, as the kickoff day for their court-endorsed Chapter 11 Reorganization Plan. FTX Creditor Distribution Is Coming Soon According to the press release, this date will also act as the debut distribution record for creditors within the plan’s convenience categories. In the … Read more
Kraken and BitGo will help distribute the first FTX payments in 2025
More than two years after the cryptocurrency exchange filed for bankruptcy, the first group of FTX claimants could see recovery payments distributed as early as January. Go to Source
Binance inflows hit $24 billion from 250M user base in 2024
Institutional investors have played a large role in Binance’s $24.2 billion net inflows so far in 2024. Go to Source
FTX debtors recover $14M in political donations
A bankruptcy court filing showed FTX’s debtors reached settlements with political action committees and state-level Democratic parties over political contributions. Go to Source
CFTC bags record $17B in 2024 thanks to massive crypto enforcement
The US commodities regulator recovered $12.7 billion in the FTX case, which was the “largest recovery for victims and sanctions in CFTC history.” Go to Source
‘Cowardly Path’ Leads to Redemption: Former FTX Exec Gary Wang Skates on Prison Sentence
Inner City Press reports that the former FTX executive Gary Wang, who admitted to creating the code enabling Sam Bankman-Fried to misappropriate $8 billion from the now-bankrupt cryptocurrency exchange, has avoided prison. Crypto Whistleblower or Accomplice? FTX’s Gary Wang Avoids Prison Reuters further reports that U.S. District Judge Lewis Kaplan in Manhattan acknowledged Gary Wang’s … Read more
