Tag: FTX

FTX Adds Payoneer as Payment Method For

Key Notes FTX adds Payoneer as a third payout option for creditors across 93 jurisdictions. Some countries, including Nigeria, Russia, Egypt, and China, remain excluded from payouts. Sam Bankman-Fried may be released from prison 4 years earlier due to good behavior. Creditors affected by the 2022 implosion of Bahamian-headquartered FTX Derivatives Exchange can now receive their refund via Payoneer. This is in addition to the two other distribution partners, BitGo and Kraken, which were selected for the repayment exercise earlier. The Need for FTX to Integrate Payoneer The FTX Recovery…

Ftx Adds Payoneer as Payment Method for Creditors

Key Notes FTX adds Payoneer as a third payout option for creditors across 93 jurisdictions. Some countries, including Nigeria, Russia, Egypt, and China, remain excluded from payouts. Sam Bankman-Fried may be released from prison 4 years earlier due to good behavior. Creditors affected by the 2022 implosion of Bahamian-headquartered FTX Derivatives Exchange can now receive their refund via Payoneer. This is in addition to the two other distribution partners, BitGo and Kraken, which were selected for the repayment exercise earlier. The Need for FTX to Integrate Payoneer The FTX Recovery…

FTX Creditors’ $2.2B of Disputed Claims on the line

Bankrupt cryptocurrency exchange FTX is facing fresh scrutiny from users fighting for at least $2.2 billion worth of disputed claims still pending approval, with numerous creditors continuing to struggle to get their repayments approved. The FTX Recovery Trust started its second round of payments on May 30, repaying over $5 billion worth of digital assets to eligible creditors who have completed pre-distribution requirements. Still, at least $2.25 billion worth of repayments remain in dispute, according to estimates shared by Sunil, FTX creditor and Customer Ad-Hoc Committee member. “Current allowed claims:…

$5B in FTX Funds Are Hitting Wallets—Will Crypto Markets Get a Second Wind?

On Friday, the estate managing the collapsed crypto exchange FTX announced that its recovery trust had begun disbursing over $5 billion tied to both convenience and non-convenience class claims. As distributions roll out over the following three days, Coinbase Institutional observed in its weekly briefing that this injection of capital could invigorate liquidity across crypto […] Source CryptoX Portal

Bankrupt Crypto Exchange FTX Officially Kicks Off Second Round of Creditor Repayments With $5,400,000,000 Distribution

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The bankrupt crypto exchange FTX has begun distributing more than $5.4 billion to creditors. The payouts represent the exchange’s second round of distributions after smaller creditors categorized in FTX’s “Convenience Class” started receiving repayments in February. Creditors in this round include “convenience class” members and larger claims. They will all receive funds via BitGo or Kraken within one to three business days from Friday, per a new press release. FTX will make payouts from its $11.4 billion cash reserves, and the exchange says subsequent distributions will be announced “in due…

FTX Bankruptcy Estate distributes $5 billion

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The FTX Recovery Trust has initiated a second round of payments to its creditors. On May 30, the Trust started a $5 billion payout to eligible creditors in the Convenience and Non-Convenience Classes who have completed the pre-distribution requirements. According to a May 28 announcement, the creditors’ distribution will include Dotcom Customer Entitlement Claims, which are receiving a 72% distribution; US Customer Entitlement Claims, which are receiving a 54% distribution; and Convenience Claims, which will receive a 120% distribution. Additionally, General Unsecured Claims and Digital Asset Loan Claims will each…

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…