News about FTX

News about Ftx

Kraken Begins FTX Payouts as Creditors Await Resolution

submitted by /u/DaRunningdead [link] [comments]

Kraken Offers Fee Credits for FTX Clients to Trade $50K in Crypto

Kraken has announced a new initiative for clients receiving funds from FTX on its platform. These clients will be eligible for fee credits, allowing them to trade up to $50,000 in cryptocurrency without incurring trading fees.Kraken Partners to Distr...

Backpack Hits Back at FTX: Asserts Ownership Claim on the Cypriot Entity

Backpack Exchange responded to FTX's claims hours after the bankrupt exchange called the acquisition of its Cyprus entity unauthorised. The latest press release from Backpack emphasised that it has already purchased FTX EU from former insiders, with...

FTX EU Acquisition in Jeopardy? Backpack Does Not Have Court Approval

The bankrupt cryptocurrency exchange FTX clarified today (Thursday) that Backpack's “purported” acquisition of its Cyprus division had not been approved by the court, nor had Backpack been authorized to distribute funds to FTX customers.Further, the...

From Collapse To Comeback? Ex-FTX And Alameda Employees Acquire European Subsidiary

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 $...

Fallen Crypto Exchange FTX EU Has a New Owner, but License Remains Suspended

Remember FTX? The European branch of the once-popular cryptocurrency exchange that became the center of a major scandal in 2022 has just been acquired. Backpack has become the new owner of FTX EU.Although Backpack currently ranks only 200th in CoinMa...

FTX customers could finally get their money back as reorganization begins

submitted by /u/sadiq_238 [link] [comments]

FTX Begins $16 Billion Repayment Today, Marking A Positive Turn For The Crypto Industry—Here’s Why

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 th...

FTX Repayments Process is Now Active; Users to Receive Funds in 60 Days

submitted by /u/Experimentationq [link] [comments]

FTX’s payment plan is now effective but when will users get their funds?

submitted by /u/EmphasisSufficient91 [link] [comments]

Celsius Fights Back: Appeals Court Ruling Against $444M Claim on FTX Transfers

The ongoing legal battle between collapsed crypto lending platform Celsius and bankrupt cryptocurrency exchange FTX appears to have now entered another phase. Celsius recently filed a notice of appeal against Judge John T. Dorsey’s ruling, which R...

Tether’s USDT sees largest weekly market cap drop since FTX collapse amid MiCA full implementation

submitted by /u/Bear-Bull-Pig [link] [comments]

FTX begins repaying $16 Billion to creditors on January 3, 2025

Major liquidity injection expected. Sounds bullish. submitted by /u/nicoznico [link] [comments]

Thread for anyone recovering their balances from FTX.

Hi everyone. We are on Step-8 out of 9 to see the distribution amounts being sent to our wallets. To those who were not aware of the situation, in November 2022, FTX went bankcrupt, and users such as me lost out access to withdraw our balances. March...

~$16B USD is set to be repaid to FTX Creditors within 60 days starting January 3rd. Do you think that money will move back into Crypto? If you are owed me - A. what asset were you holding B. what are you going to do with it?

submitted by /u/GabeSter [link] [comments]

Former FTX Executives Receive Significant Cuts in Their Prison Time

Ryan Salame and Caroline Ellison, two former top FTX executives now in prison, have had significant reductions in their sentences, according to the Federal Bureau of Prisons.Reduction in Prison TimeSalame, the former co-CEO of FTX, was sentenced to s...

FTX’s Sam Bankman-Fried is Potentially in Consideration for a Presidential Pardon

submitted by /u/sadiq_238 [link] [comments]

FTX Announces Effective Date For Chapter 11 Reorganization Plan: January 3, 2025

After years of uncertainty, the defunct cryptocurrency exchange FTX, previously led by convicted founder Sam Bankman-Fried, has announced the effective date for its Chapter 11 reorganization plan aimed at distributing funds to affected customers. Ini...

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 ac...

FTX to Distribute Funds to Investors Through Kraken and BitGo, Process to Start in January

Collapsed cryptocurrency exchange, FTX will start distributing funds to investors who incurred losses through partner crypto firms, including Kraken and BitGo.The company announced today (Monday) that its court-approved Plan of reorganization will be...

FTX Bankruptcy Update: Debtors Successfully Reclaim $15 Million In Political Donations

As the cryptocurrency exchange FTX, once run by convicted founder Sam Bankman-Fried, continues its bankruptcy proceedings, significant developments have emerged regarding the recovery of funds for affected users. A recent court filing reveals that d...

The FTX estate plans to start distributions by March 2025

FTX plans to start distributing $16 billion to creditors by March 2025. Distributions will begin 60 days after the Chapter 11 plan becomes effective in Jan. Customers must complete KYC verification and submit tax forms to receive payments. The FTX...

FTX set to begin creditor distributions in early 2025

submitted by /u/slobbyKnob1 [link] [comments]

No Prison For FTX’s Gary Wang: Key Figure In $8 Billion Fraud Avoids Jail Time

Gary Wang, the co-founder of the now-defunct crypto exchange FTX, was sentenced on Wednesday to time served, along with three years of supervised release for his involvement in a sweeping $8 billion fraud scheme. This makes him the fifth and final ex...

‘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 Acc...

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