FTX Provides Details On $16 Billion Distribution Timeline For Customers And C...
The long-awaited resolution for nearly $16 billion in funds owed to users and customers of the defunct crypto exchange FTX is approaching, as the estate managing the recovery process has outlined the next steps and timeline for distribution. FTX Nears Completion Of Chapter 11 Plan In Thursday’s announcement, FTX confirmed that it is nearing the completion of the final prerequisites necessary for its Court-approved Chapter 11 Plan of Reorganization to take effect, marking a significant milestone toward initiating creditor and customer distributions. John J. Ray III, Chief Executive....
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The trial of the former CEO of the defunct crypto exchange FTX, Sam Bankman-Fried (SBF), continued on October 18 with the direct examination of the prosecution’s expert witness, Peter Easton, an Accounting Professor who works at the University of Notre Dame. Expert Testimony Shows Customers’ Funds Were Stolen According to a report by Bloomberg, Easton explained that $9 billion in customers’ funds had already gone missing since June 2022, five months before FTX filed for bankruptcy. He specifically alluded to the customers’ deposits, which were made into Alameda Research’s bank....
Update January 12, 2016: Paul Vernon tweeted that a new phishing scam is targeting Cryptsy customers. Earlier this morning, we reported on the mysterious disappearance of the Cryptsy team from the building housing their headquarters. An anonymous source visited the building to see Paul Vernon, the cryptocurrency exchange’s Founder, and discovered that the building was empty. Upon contacting the building manager, our source learned that Cryptsy had vacated the building several weeks prior. This unannounced move comes in the middle of controversy surrounding Cryptsy, as many customers have....
In a recent IRC chat among Bitcoin’s development community, a timeline for activating Taproot was determined, though questions remain. The post Taproot Activation Timeline Set, But Path Unclear appeared first on Bitcoin Magazine.
A timeline of events leading to seven days in Norwegian court for BSV Founder Craig Wright and pseudonymous Bitcoiner Hodlonaut.
The fund cited “ongoing and threatened litigation” in its reasons for being unable to distribute its remaining assets to UST users starting with the smallest HODLers. The Luna Foundation Guard, or LFG, a fund focused on the Terra ecosystem, has said it cannot provide a timeline to distribute assets to users following stablecoin TerraUSD depegging from the dollar.In an Oct. 7 Twitter thread, LFG cited “ongoing and threatened litigation” in its reasons for being unable to distribute its remaining assets to UST users starting with the smallest HODLers. The fund’s reserves held more than $4....