FTX

On Monday, a US bankruptcy court officially approved the liquidation plan for cryptocurrency exchange FTX, allowing the company to repay its customers using approximately $16 billion in recovered assets.  This decision comes at a critical time for the crypto market, as creditors are poised to receive more than $12 billion through the court-sanctioned payout plan, raising the possibility that some of these funds could be reinvested into the digital asset ecosystem, potentially influencing market prices. Market Awaits FTX Liquidation Impact…

US Bankruptcy Judge John Dorsey has given the green light to FTX’s bankruptcy plan, which will see customers receive billions as the bankruptcy proceeding nears its conclusion.  The approved bankruptcy plan will give former FTX customers a full refund, along with interest, a rare outcome in bankruptcy cases where unsecured creditors usually receive a fraction of what they are owed.  FTX Bankruptcy Plan Receives Court Approval The judge approved the bankruptcy plan during a hearing in Wilmington, Delaware. The plan…

A US bankruptcy court has officially approved crypto exchange FTX liquidation plan, paving the way for it to repay customers using $16 billion in recovered assets, according to Reuters, which reports that the ruling was made by Judge John Dorsey during a court hearing in Wilmington, Delaware, on Monday. Court Approves FTX Settlements The approved plan includes a series of settlements with FTX customers, creditors, US government agencies, and liquidators tasked with managing the company’s operations outside the United States. …

A famed crypto trader who warned about the Solana (SOL) downturn and the FTX meltdown is making headlines again, only this time he is gearing up to buy a sizable amount of Rexas Finance (RXS) priced at $0.04. The moves are not in the ordinary and have triggered suspicious sentiments among traders as to why they are investing in RXS. The question on everybody’s lips is “Could this be the next big breakout?” Why Rexas Finance? Rexas Finance (RXS) is…

Prager Metis CPAs has settled with the SEC for $1.95 million over allegations of audit negligence and violations of auditor independence rules in its audits of crypto exchange FTX. Settlement Details and Background FTX's auditor, Prager Metis CPAs, has agreed to a $1.95 million settlement with the U.S. Securities and Exchange Commission (SEC). This settlement comes after allegations of misconduct during the former’s audits of the crypto exchange FTX from February 2021 to April 2022. The SEC's investigation found evidence…

The post Solana Faces Pressure as FTX Holds Over $1 Billion in SOL Amid Liquidation appeared first on Coinpedia Fintech News Solana in Trouble! FTX still holds over $1 billion in Solana (SOL) tokens as part of its ongoing bankruptcy liquidation. The exchange has 7.06 million SOL, worth $945.7 million, staked but unsold, adding pressure to Solana’s market value. Despite recent sales of 530,000 SOL by FTX and Alameda Research, significant holdings remain. The crypto market faces heightened scrutiny and…

The post FTX News: Caroline Ellison of Alameda Research Faces 110 Years appeared first on Coinpedia Fintech News Caroline Ellison, the former CEO of Alameda Research and ex-girlfriend of Sam Bankman-Fried, is now in the spotlight as she faces a possible 110-year sentence for her role in the infamous FTX collapse. Once a rising star in the crypto world, Ellison’s involvement in the misuse of billions of dollars has brought her face-to-face with one of the harshest penalties in the…

Infamous crypto exchange FTX has cleared a major hurdle in its bankruptcy proceedings by reaching a $14 million settlement with Emergent Technologies, resolving a dispute over $600 million in Robinhood shares. Terms Of Settlement FTX, the bankrupt cryptocurrency exchange, has settled a significant dispute over $600 million worth of Robinhood shares with Emergent Technologies. This development, outlined in a motion filed by FTX CEO John Ray III in the Delaware Bankruptcy Court on September 6, resolves one of the many…

The post SEC Cracks Down on FTX Repayment Plans! appeared first on Coinpedia Fintech News FTX is in trouble again! Recently, the SEC has filed a warning against the FTX estate, a possible signal to object to using stablecoins or other digital assets to repay creditors. The agency, alongside the U.S. Trustee, also objects to a discharge provision that would limit future liabilities of the FTX debtors. FTX plans to repay creditors in cash or stablecoins despite proposals to restart…