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This week, FTX debtors issued a press release and a 20-page document noting that bankruptcy administrators had located $5.5 billion in liquid assets. The document details that investigators discovered fiat currencies, crypto assets, and securities as part of FTX’s and Alameda Research’s cache. However, the disclosure to unsecured creditors does not mention the extremely large … Read more
The judge ruled there were no potential conflicts of interest sufficient to stop Sullivan & Cromwell from continuing to act as the debtors’ counsel. Go to Source Powered by WPeMatico
Brett Harrison departed FTX US roughly two months before FTX Group filed for bankruptcy, citing “cracks” in his relationship with SBF. Go to Source Powered by WPeMatico
Following the collapse of FTX, the company has decided to rebrand and exit the crypto space. Go to Source Powered by WPeMatico
Following recent disclosure that FTX debtors and bankruptcy administrators located $5.5 billion in liquid assets, the new FTX CEO John J. Ray III discussed the business in his first interview since taking over the exchange’s restructuring process. Ray detailed during the interview that he is open to the possibility of reviving the now-defunct digital currency … Read more
FTX Trading, doing business as FTX.com, was one of roughly 130 companies under FTX Group that filed for bankruptcy following the firm’s reported liquidity crunch in November. Go to Source Powered by WPeMatico
Former FTX CEO allegedly used his popularity to lure developers, and Alameda Research to inflate the price of certain coins. Go to Source Powered by WPeMatico
The company had disclosed the investment on Dec. 2, but had previously not committed to returning the funds. Go to Source Powered by WPeMatico
Following an update from FTX debtors about the $5.5 billion discovered by administrators during an investigation, former FTX CEO Sam Bankman-Fried (SBF) took to Twitter to share a blog post from his Substack newsletter. SBF stated that the presentation published by litigation firm Sullivan & Cromwell is “extremely misleading” and that FTX US is solvent … Read more
The FTX saga is set to enter its next phase in October with the start of SBF’s trial. However, industry experts are concerned that prosecutors could use him to set an example. Go to Source Powered by WPeMatico