Japanese exchange BitFlyer to acquire FTX Japan
FTX Japan, a Japanese subsidiary of the collapsed FTX exchange, is preparing to return with a new owner after repaying its customers in 2023. Go to Source
Bankruptcy
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FTX victims go after company’s assets from criminal forfeiture
Though Sam Bankman-Fried is currently serving a prison sentence, affected FTX customers and creditors are making claims on the firm’s assets, which are still worth millions. Go to Source
FTX creditors object to bankruptcy reorganization plan
The group of creditors, led by Sunil Kavuri, cited several concerns, including forced taxation, which would compromise creditors’ best interests. Go to Source
FTX Reaches Settlement With IRS on $24 Billion Tax Claim
Crypto exchange FTX has reached a settlement with the Internal Revenue Service (IRS), reducing its $24 billion claim to $200 million to be paid within 60 days after the company’s restructuring plan is approved. Additionally, the U.S. tax authority will receive a $685 million lower priority claim, payable only if funds are available after satisfying … Read more
FTX reaches $200M settlement with IRS on tax bill
The agreement, which is subject to a court approval, resolves a major hurdle for FTX bankruptcy process. Go to Source
Bankruptcy Court Backs Bittrex in Cryptocurrency Freeze Dispute
The bankruptcy proceedings of Bittrex Inc. involved a legal dispute over claims filed by Azim Ghader, who sought recovery for lost profits and damages after his cryptocurrency was frozen on the Bittrex exchange in 2017. The United States Bankruptcy Court for the District of Delaware found that Bittrex had complied with legal requirements and upheld … Read more
$2.18 Billion Digital Assets in Kind Returned to Earn Users, Gemini Says
Cryptocurrency exchange Gemini announced on Wednesday that Earn users have received $2.18 billion of their digital assets in kind, representing 97% of their assets owed and a 232% recovery since Genesis halted withdrawals. This recovery follows a settlement with Genesis and other creditors, ensuring that Earn users will receive 100% of their digital assets back … Read more
Gemini returns $2.18B to Earn users following 18-month withdrawal freeze
Gemini has announced a $2.18 billion distribution to its Earn program users 18 months after it suspended withdrawals. Go to Source
Investigation finds FTX bankruptcy lawyer didn’t conspire with FTX
An independent probe found that Sullivan & Cromwell was not complicit in the now-defunct exchange’s fraud. Go to Source
Bitcoin price tops $68K but a few concerning headwinds remain
Bitcoin price shows strength as investors expect the Fed to resume printing, but a handful of global macroeconomic headwinds are still in play. Go to Source