FTX

Sam Bankman-Fried is reported to have filed a settlement agreement to assist FTX customers go after celebrity promoters.  Some of these promoters have already contributed to a common fund of $1.4 million as required in their settlement agreement.  Crypto News Flash recently reported that the founder of the collapsed FTX exchange and Alameda Research, Samuel Bankman-Fried (SBF), was sentenced to 25 years in prison, three years of supervised release clause, and ordered to pay $11 billion in forfeiture for his…

The bankruptcy estate of FTX intends to auction a second batch of Solana tokens worth billions, and some of the largest crypto investment firms have expressed interest. The estate previously sold SOL tokens worth $1.9 billion through Galaxy Digital; investors purchased the tokens at around $60, but Solana currently trades at over $150. The bankruptcy estate of collapsed crypto exchange giant FTX is preparing to sell a second batch of Solana tokens for billions of dollars, and investors are lining…

The post FTX Investors Team Up with Sam Bankman-Fried to Take Down Celebrity Who Endorsed FTX appeared first on Coinpedia Fintech News FTX investors and customers have decided to drop their claims against former FTX CEO Sam Bankman-Fried in exchange for his help in taking legal action against celebrities who endorsed FTX. This comes after Bankman-Fried was sentenced to 25 years in prison for fraud related to FTX.  As part of the agreement, investors would drop all current and future…

The prominent cryptocurrency exchange FTX just finished selling off a significant amount of its Solana (SOL) holdings for about $1.9 billion. Approximately 25–30 million SOL tokens, a portion of a larger portfolio with a $2.6 billion value, were sold in this transaction. These tokens were offered for $64 each, a substantial 60% discount. On the other hand, investors have also noticed InQubeta (QUBE), a Bittensor (TAO) rival that generated over $13.4 million in token sales during its presale. InQubeta’s blend…

In a dramatic turn of events, Sam Bankman-Fried, the founder of the now-defunct cryptocurrency exchange FTX, has been sentenced to 25 years in prison for defrauding users. The judgment was handed down by US District Judge Lewis Kaplan during a hearing in a Lower Manhattan federal courtroom on March 28.  Bankman-Fried, who had publicly announced plans to appeal the conviction, has now officially filed an objection to the decision. ‘Remorse And Empathy’ For FTX Customers During the sentencing hearing, US…

Voyager Digital has announced the recovery of $484.35 million from settlements with FTX, Three Arrows Capital (3AC), and Directors and Officers (D&O) insurance. The announcement was part of a status update submitted to the United States Bankruptcy Court for the Southern District of New York, outlining the efforts to recover and allocate assets to creditors following the company’s financial decline. $450 Million FTX Settlement and Major Recoveries According to an April 9 filing, approximately $450 million of the reclaimed funds…

The post Massive Liquidation: FTX Unloads $1.9 Billion Solana Tokens, What Next For SOL Price appeared first on Coinpedia Fintech News According to the Bloomberg report, the recent massive liquidation of Solana by the FTX estate has turned the crypto market upside down. FTX, the bankrupt exchange, unloaded over half of its SOL tokens at a 63% discount from current market prices, resulting in nearly $2 billion for FTX creditors.  FTX’s $1.9B SOL Sale Sparks Creditor Outrage Galaxy Trading, Pantera…

In a significant development, FTX bankruptcy trustees have reportedly sold about two-thirds of a $2.6 billion stash of Solana (SOL) at a “deeply discounted price.”  Industry figures such as Galaxy Trading and Pantera Capital were among the investors involved in the deal, according to people familiar with the matter, as reported by Bloomberg. SOL Tokens’ Four-Year Journey Per the report, the FTX estate was able to sell between 25 million and 30 million locked-up Solana coins at $64 each, generating…

The Solana network has been grappling with a significant surge in transaction failures, with approximately three-quarters of all transactions experiencing issues amidst the frenzy of activity sparked by the recent meme coin craze. Market players believe that the current crisis is an “existential moment as big as the FTX collapse.” Solana’s Failed Transaction Climbs 75% According to the latest data from Dune Analytics on April 4, over 75% of “non-vote” Solana transactions failed, marking the highest negative rate recorded. This…