Tag: FTX

Crypto Markets Brace For $5 Billion FTX Liquidity Shock: Expert

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Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. In a video published on Wednesday, crypto analyst and trader Miles Deutscher devoted a lengthy segment to the long-anticipated distribution of FTX bankruptcy proceeds, arguing that tomorrow’s release of…

Altseason Loading? Analyst Explains How FTX $5B Distribution May Trigger The Next Bull Leg

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Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. As Bitcoin and Ethereum hover near critical resistance levels, market sentiment is shifting rapidly. Analysts are now calling for an incoming Altseason, with bullish momentum building across the board,…

FTX Founder Sam Bankman-Fried To Leave Jail Earlier

Key Notes SBF is estimated to gain his freedom by December 14, 2044, earlier than planned. Bankman-Fried was found guilty of all seven charges levied against him, bagging a 25-year sentence. His parents, Joseph Bankman and Barbara Fried, seek a presidential pardon for their son. FTX founder Sam Bankman-Fried (SBF) is unlikely to serve the full 25 years of his prison sentence. Although he remains on probation, he could have up to 4 years reduced from his sentence due to good conduct and participation in prison programs since his incarceration.…

Binance Blames SBF for FTX Implosion, Wants to Toss Lawsuit

Key Notes Binance filed a motion to dismiss a $1.76 billion clawback suit from the FTX estate. Motion claims that FTX’s claims are baseless and the court lacks jurisdiction since Binance and CZ are not US citizens. While legal battles continue, the FTX Recovery Trust is preparing to distribute over $5 billion to creditors. In a legal rebuttal filed on May 16, crypto exchange Binance asked a Delaware bankruptcy court to dismiss a $1.76 billion clawback lawsuit brought by the FTX estate.  In the documentation, the leading digital asset trading…

Binance seeks to dismiss $1.76B FTX lawsuit, blames SBF for collapse

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Binance has filed a motion to dismiss a $1.76 billion lawsuit brought by the FTX estate, accusing the defunct crypto exchange of trying to deflect blame for its own failure. Filed on May 16 in the Delaware Bankruptcy Court, Binance’s legal team called the suit “legally deficient,” stating that FTX’s collapse was not triggered by market manipulation or hostile action but by internal misconduct. “Plaintiffs are pretending that FTX did not collapse as the result of one of the most massive corporate frauds in history,” the filing said, pointing to…

Bankrupt Crypto Exchange FTX To Shell Out $5,400,000,000 to Creditors at the End of the Month

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The bankrupt crypto exchange FTX plans to shell out $5.4 billion in a wave of payments to creditors at the end of the month. Eligible creditors will receive funds via BitGo or Kraken within 1-3 business days from May 30th, per a new press release from the exchange. FTX will make payouts from its $11.4 billion cash reserves, and the exchange says subsequent payouts will be announced at a later date. The bankrupt firm classifies its main creditors as individuals and institutions with millions of dollars stashed in the platform…

FTX stablecoin payouts and ETF inflows could boost Bitcoin in June

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Bitcoin could benefit from favorable market conditions through July, before seasonal headwinds and tariff deadlines take effect, analysts say. Bitcoin (BTC) has jumped more than 25% since April, and it’s now holding near $106,000 with several signs pointing to more upside in the coming weeks, analysts at Matrixport say. In a Friday report, the analysts suggested that a new all-time high might be within reach due to several positive catalysts on the horizon. According to the report, Bitcoin has surged back to the upper end of its range at $106,000,…

FTX EU creditors can now withdraw money from Backpack exchange

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Crypto exchange Backpack announced that customers of the defunct crypto exchange FTX EU can begin reclaiming their funds through its service. According to a May 12 X post, Backpack now allows FTX EU users who selected it as the redistribution platform to claim their euro balance. Users must first complete Know Your Customer (KYC) verification on the exchange before they can withdraw funds. Backpack’s support page also explains that the KYC details on the platform must match the ones provided to FTX EU: “If they do not, you will need…

Backpack Exchange Unveils Withdrawal Process for FTX EU Users

Key Notes Former FTX EU users can now claim their Euro balances via Backpack EU. The withdrawal process requires identity verification and a bank form. Backpack EU clarified it has no ties to FTX International or US cases. Former FTX EU users can now start getting back their Euro funds, as the Backpack exchange has opened a two-step withdrawal system. This move comes in light of Backpack’s acquisition of FTX EU. Withdrawal process begins after ftx eu acquisition On May 12, 2025, Backpack officially launched the long-awaited withdrawal process for…

FTX sues NFT Stars and Kurosemi in push to recover tokens

Bankrupt crypto exchange FTX has filed lawsuits against the non-fungible token marketplace NFT Stars and the blockchain gaming firm Kurosemi, which operates as Delysium, accusing them of withholding tokens they owed. The lawsuits, both filed in the Delaware bankruptcy court, alleged that NFT Stars and Delysium failed to deliver all the tokens paid for by FTX despite repeated attempts to resolve the matter. FTX claimed in an April 28 statement that it made “numerous unanswered attempts” to engage with both firms, and it would be “contacting numerous other token and…