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FTX Bankruptcy: Fallen Exchange To Amass up to $5,100,000,000 More Than What Users Lost at Time of Collapse

The Daily Hodl
FTX Bankruptcy: Fallen Exchange To Amass up to ,100,000,000 More Than What Users Lost at Time of Collapse
Daily Hodl
FTX Bankruptcy: Fallen Exchange To Amass up to ,100,000,000 More Than What Users Lost at Time of Collapse

The bankrupt crypto exchange FTX now has holdings worth billions of dollars more than the legally approved claims made by its creditors. A recently filed disclosure statement indicates that FTX’s bankruptcy estate estimates it will hold net distributable proceeds between $14.5 billion and $16.3 billion on September 30th, the projected start date for the exchange’s […]

The post FTX Bankruptcy: Fallen Exchange To Amass up to $5,100,000,000 More Than What Users Lost at Time of Collapse appeared first on The Daily Hodl.

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Metaplanet Acquires Additional 156 Bitcoin, Expanding Treasury Holdings

Metaplanet Acquires Additional 156 Bitcoin, Expanding Treasury Holdings

Most FTX Creditors to Receive Over 100% Repayment, Court Document Shows

Bitcoin.com
Most FTX Creditors to Receive Over 100% Repayment, Court Document Shows
Alameda Research
Most FTX Creditors to Receive Over 100% Repayment, Court Document ShowsFTX is poised to repay nearly all its account holders fully, according to a reorganization plan presented in court. The bankrupt cryptocurrency exchange has raised about $15 billion mainly by selling investments from itself and its affiliate, Alameda Research. This fund will ensure payments of 118 cents on the dollar for 98% of creditors with […]
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Metaplanet Acquires Additional 156 Bitcoin, Expanding Treasury Holdings

Metaplanet Acquires Additional 156 Bitcoin, Expanding Treasury Holdings

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

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

Under the yet-to-be-approved plan, 98% of FTX creditors will get overpaid on their claims and the bankrupt exchange has more money than it needs to repay customers.

FTX plans to fully repay all its creditor’s claims plus “billions in compensation for the time value of their investments” with 98% slated to get up to 118% back — only for those claiming $50,000 or under.

In a May 7 statement, the bankrupt crypto exchange said the plan was “subject to being finalized and approved” by a Delaware Bankruptcy Court.

Only creditors holding claims in an allowed amount below $50,000 will be eligible for the 118% recovery, which FTX anticipated was “98% of the creditors of FTX by number.”

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Metaplanet Acquires Additional 156 Bitcoin, Expanding Treasury Holdings

Metaplanet Acquires Additional 156 Bitcoin, Expanding Treasury Holdings

Former FTX exec Ryan Salame to give up $5.9M Bahamas property

Coin Telegraph
Former FTX exec Ryan Salame to give up .9M Bahamas property
bahamas

Salame proposes to satisfy the debtors by transferring a residence he owns to FTX Digital Markets Ltd.

The former co-chief executive of FTX Digital Markets, Ryan Salame, has agreed to transfer his multimillion-dollar property in the Bahamas as part of his plea agreement in a criminal case.

According to a motion from FTX Trading Ltd and affiliated debtors filed with the United States Bankruptcy Court for the District of Delaware on May 1, Ryan Salame has agreed to give up a $5.9 million house he owns in the Bahamas.

Salame pleaded guilty to criminal charges in September 2023 and his plea agreement required him to pay $5.6 million in restitution to the debtors.

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Metaplanet Acquires Additional 156 Bitcoin, Expanding Treasury Holdings

Metaplanet Acquires Additional 156 Bitcoin, Expanding Treasury Holdings

Bankruptcy judge signs off on $450M FTX-Voyager settlement

Coin Telegraph
Bankruptcy judge signs off on 0M FTX-Voyager settlement
Bankruptcy

According to the terms of the deal, FTX will “relinquish any and all rights” to $450 million Voyager Digital has claimed from the crypto exchange.

A judge has granted a motion authorizing debtors for defunct cryptocurrency exchange FTX to enter a $450-million settlement agreement with bankrupt firm Voyager Digital.

In an April 29 filing in the United States Bankruptcy Court for the District of Delaware, Judge John Dorsey approved the terms of an agreement between FTX and Voyager, allowing the latter to settle all claims with the crypto exchange as part of a plan to compensate creditors. Both parties, subject to approval, will be able to agree that $5 million held in escrow by Voyager and an additional $445 million involved in a loan repayment lawsuit from Alameda Research will be released to the firm’s debtors. FTX will also “relinquish any and all rights” to the funds.

Paul Hage, the attorney responsible for representing Voyager Digital and its debtors, signed off on the deal, as did FTX restructuring officer and CEO John Ray III as of April 4. The settlement with FTX is one of many Voyager has been pursuing since the firm filed for bankruptcy in July 2022 amid a crypto market downturn.

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Metaplanet Acquires Additional 156 Bitcoin, Expanding Treasury Holdings

Metaplanet Acquires Additional 156 Bitcoin, Expanding Treasury Holdings

Pantera Capital Wins Bid To Purchase a Stash of Discounted Solana From Bankrupt Crypto Exchange FTX: Report

The Daily Hodl
Pantera Capital Wins Bid To Purchase a Stash of Discounted Solana From Bankrupt Crypto Exchange FTX: Report
Altcoins
Pantera Capital Wins Bid To Purchase a Stash of Discounted Solana From Bankrupt Crypto Exchange FTX: Report

Crypto asset manager Pantera Capital has reportedly won a bid to purchase discounted Solana (SOL) from bankrupt crypto exchange platform FTX. According to a new report by Bloomberg, an anonymous person familiar with the matter says that Pantera won a bid to purchase a discounted stash of the Ethereum (ETH) rival. Though the details of […]

The post Pantera Capital Wins Bid To Purchase a Stash of Discounted Solana From Bankrupt Crypto Exchange FTX: Report appeared first on The Daily Hodl.

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Metaplanet Acquires Additional 156 Bitcoin, Expanding Treasury Holdings

Metaplanet Acquires Additional 156 Bitcoin, Expanding Treasury Holdings

Sam Bankman-Fried Agrees To Cooperate in the Investigation of Celebrities Who Promoted FTX

The Daily Hodl
Sam Bankman-Fried Agrees To Cooperate in the Investigation of Celebrities Who Promoted FTX
Celebrities
Sam Bankman-Fried Agrees To Cooperate in the Investigation of Celebrities Who Promoted FTX

Imprisoned FTX founder Sam Bankman-Fried has agreed to cooperate against other defendants in FTX civil litigation. The disgraced former crypto executive has faced civil litigation in Southern Florida from a patchwork of plaintiffs seeking to recover losses related to FTX’s collapse and subsequent bankruptcy in November 2022. A new document filed on Friday indicates Bankman-Fried […]

The post Sam Bankman-Fried Agrees To Cooperate in the Investigation of Celebrities Who Promoted FTX appeared first on The Daily Hodl.

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Metaplanet Acquires Additional 156 Bitcoin, Expanding Treasury Holdings

Metaplanet Acquires Additional 156 Bitcoin, Expanding Treasury Holdings

FTX Estate Plans Auction for Locked Solana Tokens

Bitcoin.com
FTX Estate Plans Auction for Locked Solana Tokens
Auction
FTX Estate Plans Auction for Locked Solana TokensBankrupt cryptocurrency exchange FTX is preparing to offload more of its locked Solana (SOL) tokens through an auction, diverging from its previous method of selling at a set price, as announced by Mike Cagney of Figure Markets. This decision follows FTX’s recent sales of SOL tokens, amounting to approximately $1.9 billion and $2.6 billion in […]
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Metaplanet Acquires Additional 156 Bitcoin, Expanding Treasury Holdings

Metaplanet Acquires Additional 156 Bitcoin, Expanding Treasury Holdings

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