FTX debtors – DIGIT INFO

FTX plans full pay back of all creditors ‘plus billions in compensation’

DIGIT — Tue, 07 May 2024 23:31:38 +0000

Under the plan, 98% of FTX creditors will get at least 118% of their claims back — the remainder will receive all of their claims “plus billions in compensation,” says FTX.

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IRS tax bill will swipe creditors of any ‘meaningful recovery,’ says FTX

DIGIT — Tue, 12 Dec 2023 04:05:50 +0000

FTX Trading said the firm “never earned anything anywhere near the amount” that would justify a $24 billion tax bill.

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Crypto exchange FTX gets nod to sell $873M of assets to repay creditors

DIGIT — Thu, 30 Nov 2023 02:45:08 +0000

Nearly $700 million of the $873 million trust assets allowed to be sold by FTX comes from Grayscale’s flagship product, the Grayscale Bitcoin Trust, or GBTC.

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FTX customers could get $9B shortfall claim payout by mid-2024

DIGIT — Tue, 17 Oct 2023 04:25:28 +0000

A proposed settlement could see creditors receive a shortfall claim of $8.9 billion for FTX.com and $166 million for FTX US.

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FTX creditors unimpressed with exchange’s bankruptcy exit plan

DIGIT — Wed, 02 Aug 2023 03:45:05 +0000

FTX’s official creditor committee said the current plan would add costs and delays to what’s already on track to be a historically expensive bankruptcy.

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FTX Debtors Unveil Report That Identifies and Discusses Control Failures by Sam Bankman-Fried Led Management

DIGIT — Mon, 10 Apr 2023 19:49:57 +0000

FTX Debtors said on April 9 that it had released a report that “identifies and discusses control failures” by Sam Bankman-Fried and his colleagues when they ran the collapsed cryptocurrency exchange. John Ray, the CEO of the FTX Debtors, said the FTX Group “was tightly controlled by a small group of individuals who falsely claimed […]

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SBF’s inner circle received $3.2B, mainly from Alameda: Court filings

DIGIT — Thu, 16 Mar 2023 06:39:56 +0000

Billions worth of loans and payments flowed from FTX entities to Sam Bankman-Fried and five other former executives of FTX and Alameda Research.

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FTX Debtors Demand Return of Funds Given to US Politicians and Super PACs

DIGIT — Mon, 06 Feb 2023 15:07:29 +0000

FTX debtors are seeking to claw back millions of dollars given to U.S. political action committees (PACs) and political figures. Confidential letters have been sent to individuals and organizations, requesting the return of the funds by Feb. 28, 2023. Some bureaucrats, such as Democratic Senators Joe Manchin and Tina Smith, have already pledged the funds […]

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FTX Debtors Seek Dismissal of Turkish Entities in Chapter 11 Bankruptcy Proceedings

DIGIT — Tue, 31 Jan 2023 22:19:55 +0000

FTX debtors have filed a motion with the court requesting to dismiss its Turkish subsidiaries from the Chapter 11 bankruptcy proceedings. The defunct crypto exchange’s lawyers believe dismissing the entities “is in the best interests” of creditors, and FTX debtors do not believe Turkish authorities “or any liquidator” in the country will cooperate with officials […]

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FTX’s $5.5 Billion in Alleged ‘Liquid Assets’ Includes Locked SOL Cache and Illiquid FTT Holdings

DIGIT — Thu, 19 Jan 2023 17:30:50 +0000

Two days ago, bankruptcy administrators and FTX debtors published an update for unsecured creditors claiming the discovery of $5.5 billion in liquid assets. Roughly $3.5 billion of these funds are cryptocurrency assets, with 11 different digital currencies classified as “liquid assets.” However, two of the firm’s top cryptocurrency caches are not liquid as the company’s […]

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