Crypto Comeback: VC Investments Soar 46% in Q4 2024

January 18, 2025 Bitcoin.com

Bitcoin

In Q4 2024, venture capital (VC) firms invested $3.5 billion into crypto and blockchain startups, a 46% increase from the previous quarter. 2024: Weakest Year for Crypto VC Fundraising Venture capital (VC) firms poured $3.5 billion into crypto and blockchain-focused startups in the last quarter of 2024. The investment, 46% higher than the previous quarter, […]

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FTX to begin distributing $1.2B to creditors after Trump inauguration

January 13, 2025 Coin Telegraph

FTX to begin distributing .2B to creditors after Trump inauguration

Coin Telegraph

A significant portion of FTX repayments will likely be reinvested into cryptocurrencies, thanks to the promising growth prospect of the crypto market for 2025, industry insiders told Cointelegraph.

Update 11:00 am UTC: This article has been updated to include quotes from Philipp Zentner.

FTX is preparing to distribute more than $1.2 billion in repayments to the bankrupt former cryptocurrency exchange’s users.

FTX, once the world’s second-largest centralized cryptocurrency exchange (CEX), is set to begin repaying users who have been unable to access their funds for over two years.

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Crypto Exchange and Wallet Backpack Acquires FTX’s European Arm for $32,000,000

January 7, 2025 The Daily Hodl

Crypto Exchange and Wallet Backpack Acquires FTX’s European Arm for ,000,000

Backpack Exchange

Backpack Exchange, a crypto trading platform founded by former FTX and Alameda Research employees, is acquiring FTX EU for $32 million. According to a new announcement from the European-based crypto exchange and wallet Backpack, the exchange has bought out the European arm of FTX. “Backpack has acquired FTX EU and its MiFID (Markets in Financial […]

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FTX’s payment plan is now effective — When will users see their funds?

January 4, 2025 Coin Telegraph

Bankruptcy

According to the plan, certain FTX users claiming less than $50,000 could expect to see their funds returned within 60 days.

The reorganization plan for defunct cryptocurrency exchange FTX, still going through bankruptcy proceedings, took effect on Jan. 3 and will allow users to begin receiving repayments.

In a Jan. 3 X post, FTX debtors said users requesting funds should be wary of phishing emails designed to look like they were sent from the exchange.

Customers need to have filed a claim through the official website to be eligible to receive reimbursement, which FTX said should happen within 60 days for the first group.

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Celsius to appeal order that disallowed its $444M claim against FTX

January 2, 2025 Coin Telegraph

Appeal

The crypto lender made two claims, both of which were dismissed for various reasons, including procedural shortcomings.

Collapsed crypto lending platform Celsius filed a notice of appeal against Judge John T. Dorsey’s order that disallowed its claims for damages from FTX as part of its ongoing bankruptcy case.

Celsius has been trying to claw back hundreds of millions from FTX, initially claiming $2 billion in damages over alleged “disparaging statements” that FTX officers made against Celsius that accelerated its fall. It later revised the claim to focus on “preferential transfers” that gave special treatment to some creditors and not others, claiming damages of $444 million.

Dorsey disallowed both claims in December, finding that Celsius’ original proofs of claim, which contained only a single sentence about investigating possible preference claims, were insufficient to preserve their preference claims.

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Release Date for Incarcerated Former FTX Exec Ryan Salame Moved Up by a Year

December 27, 2024 The Daily Hodl

crime

Incarcerated former FTX executive Ryan Salame appears to have already slashed a year off his prison sentence. Data from the U.S. Federal Bureau of Prisons indicates Salame’s release date is now March 1st, 2031. The former co-chief executive of FTX Digital Markets reported to prison in October after being sentenced to 7.5 years behind bars, […]

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Former FTX executive Ryan Salame’s prison sentence reduced by 1 year

December 26, 2024 Coin Telegraph

Coin Telegraph

Bureau of Prison records indicate that former Alameda Research CEO Caroline Ellison’s sentence was also reduced by three months.

Former FTX Digital Markets co-CEO Ryan Salame’s prison sentence was reduced by one year, with his current release date scheduled for March 2031, Bureau of Prison records show.

Salame pleaded guilty in September 2023 to conspiracy to operate an unlicensed money-transmitting business and engaging in campaign finance fraud.

The former FTX executive was sentenced to 7.5 years in prison on May 28, 2024 — placing Salame’s original release date around April 2032, after which he is subject to three years of supervised release.

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Bitgo, Kraken Partner With FTX for Jan. 3 Payment Distribution

December 17, 2024 Bitcoin.com

bitcoin.com

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 act as the debut distribution record for creditors within the plan’s convenience categories. In the […]

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Bankrupt Crypto Exchange FTX Set To Begin Paying Creditors and Customers in Early 2025, Says CEO

November 22, 2024 The Daily Hodl

Chapter 11

The CEO of fallen crypto exchange FTX says the firm will begin distributing its bankruptcy payments soon. In a statement, John Jay Ray III says payments to FTX creditors and customers will begin early next year amid anticipation that the company’s court-approved Chapter 11 Plan of Reorganization will be effective by early January 2025. “We […]

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FTX co-founder Gary Wang sentenced to time served

November 20, 2024 Coin Telegraph

Coin Telegraph

Wang was the final FTX executive awaiting sentencing over the 2022 exchange collapse and subsequent fraud charges.

FTX co-founder Zixiao “Gary” Wang was sentenced to time served plus forfeiture of assets in a United States district court in New York on Nov. 20, making him the fifth and final executive sentenced over the exchange’s 2022 collapse.

Wang pleaded guilty to fraud charges in December 2022 alongside former Alameda Research CEO Caroline Ellison. For her part in the scheme, in which she admitted to conspiring with FTX co-founder Sam Bankman-Fried to steal $8 billion, Ellison received a two-year sentence.

Judge Lewis Kaplan oversaw all five cases and issued prison time in Ellison’s case as well as Bankman-Fried’s (25 years) and former FTX Digital Markets co-CEO Ryan Salame (7.5 years).

FTX

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