FTX

Plus Wallet Leads with Strong Security & Efficient Crypto Management as Elon Musk’s Tweet Causes Stir; Best Wallet Presale Opens

December 7, 2024 4 mins read

This week’s crypto buzz revolves around a fresh controversy and essential tools to keep traders at the forefront. Elon Musk’s recent Dogecoin tweet has ignited debates over potential price manipulation and his impact on the crypto market. As the crypto community buzzes, Best Wallet’s eagerly anticipated public presale has gone live, allowing users to tap into its premium features with the $BEST token. Simultaneously, Plus Wallet is capturing the attention

Best 3 Cryptos to Invest in November 2024: Don’t Miss Out!

November 19, 2024 5 mins read

Cryptocurrencies have become the talk of the town, shaking up the way we think about money, investing, and technology. Whether you’re a newbie or a seasoned pro, you’ve probably heard the question floating around: “What’s the best crypto to buy in November 2024?” With new projects launching left and right, choosing the right coin can feel like finding a needle in a haystack. Enter Qubetics ($STIC). This isn’t just another

Alameda Research sues Waves founder Aleksandr Ivanov, seeking $90 million in a bid to recover assets lost

November 13, 2024 3 mins read

Alameda Research, a trading firm linked to the now-defunct FTX cryptocurrency exchange, has initiated legal action against Aleksandr Ivanov, the founder of the Waves blockchain platform, in a bid to recover around $90 million. This lawsuit is part of Alameda’s larger effort to reclaim assets and repay creditors affected by FTX’s downfall in 2022. The complaint, filed recently, accuses Ivanov and his companies, Numeris Ltd. and DLTech Ltd., of fraudulent

US regulators just shut down a bank in Oklahoma

October 21, 2024 1 min read

In a significant move, financial regulators have closed the First National Bank of Lindsay in Oklahoma, marking the second bank failure in the U.S. this year. The Office of the Comptroller of the Currency (OCC) took this action after uncovering misleading bank records and signs of fraud that had severely impacted the bank’s financial stability. The OCC determined that the bank was not in a sound condition to operate, revealing

Former Alameda to hand over bulk of her assets to settle FTX lawsuit

October 10, 2024 1 min read

Caroline Ellison, the former co-CEO of Alameda Research, has reached a settlement with the FTX bankruptcy estate, agreeing to transfer most of her assets to help resolve a lawsuit stemming from FTX’s collapse. In a recent court filing, it was revealed that Ellison will hand over nearly all her assets, excluding those already forfeited to the government or used for legal expenses. Additionally, she has committed to cooperating fully with

FTX to repay 98% of its users around 119% of their claim value

October 8, 2024 1 min read

In a significant development for the beleaguered crypto exchange FTX, a US judge has greenlit a bankruptcy plan that will allow the company to repay users nearly two years after its dramatic collapse. Judge John Dorsey of the US Bankruptcy Court for the District of Delaware approved the plan, which aims to return 98% of users’ claims, translating to approximately 119% of their claim value as of November 2022, when

FTX creditors to recover just 10-25% of their funds as the restructuring plan faces legal hurdles

October 1, 2024 2 mins read

As the FTX saga continues to unfold, creditors of the beleaguered cryptocurrency exchange are holding their breath, hoping for restitution following the platform’s dramatic collapse in November 2022. Recent insights from creditor activist Sunil Kavuri suggest that affected parties might expect to recover between 10% to 25% of their holdings. This estimation comes as stakeholders grapple with the ongoing restructuring process and the impending court hearing scheduled for October 7,

Former Alameda CEO Caroline Ellison sentenced to 2 years in prison for her role in FTX’s fraud

September 26, 2024 1 min read

Caroline Ellison, the ex-CEO of Alameda Research, has been sentenced to two years in prison for her part in the FTX fraud scandal. She cooperated with authorities against Sam Bankman-Fried (SBF), who got 25 years, but the judge emphasized the seriousness of the fraud. Ellison admitted to misusing billions in customer deposits and despite recommendations for no prison time, the judge felt a sentence was necessary. As she starts her

FTX crypto exchange prepares to distribute $16 billion to creditors

September 24, 2024 1 min read

As the year concludes, the allocation of funds from FTX, the defunct crypto exchange, is approaching finalization. Reports indicate that $16 billion has been allocated for FTX creditors, with users suggesting that the process is approaching finalization. A customer, who had liquidated the majority of their funds before FTX’s insolvency, indicated that they are poised to get a modest amount and intend to reinvest in Bitcoin, characterizing the dividend as

FTX co-founder and former CEO Sam Bankman-Fried appeals his fraud conviction

September 14, 2024 1 min read

FTX co-founder and former CEO Sam Bankman-Fried has filed an appeal to overturn his fraud conviction, claiming that he did not get a fair trial and should be tried again before a new judge. Bankman-Fried’s attorneys believe that FTX was never insolvent and had billions of dollars to reimburse clients despite the liquidity crisis that killed the platform. They argue that FTX’s legal consultants took over when market conditions rattled

FTX exchange settles $600M Robinhood shares dispute with Emergent for $14M

September 11, 2024 1 min read

The insolvent cryptocurrency exchange FTX has finalized a deal with Emergent Fidelity Technologies concerning roughly $600 million in Robinhood shares. The agreement, revealed in a filing by FTX CEO John Ray III in a Delaware Bankruptcy Court, included FTX disbursing $14 million to address administrative expenses related to Emergent’s retraction of its claim to the contested shares. The agreement seeks to optimize value for creditors while reducing litigation expenses. Emergent

The US SEC raises objections to FTX’s bankruptcy plan, citing legal concerns

September 3, 2024 1 min read

The U.S. Securities and Exchange Commission (SEC) has raised concerns regarding FTX’s proposed bankruptcy restructuring plan, despite receiving significant support from creditors. The SEC may raise objections to the ratification of the proposal unless certain adjustments are implemented, which represents a substantial obstacle for the ailing cryptocurrency exchange. Additionally, the SEC has demanded the removal of the discharge provision and offered additional modifications to the plan and the proposed confirmation