FTX | ForkLog - Part 3

ForkLog 24 18.02.2025

FTX Initiates First Wave of $1.2 Billion Creditor Payouts

Former clients of the bankrupt platform FTX with assets up to $50,000 have begun receiving initial payouts on the Kraken exchange and via the BitGo service.

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ForkLog 40 31.01.2025

Bloomberg Reports SBF’s Parents Seek Presidential Pardon

The parents of FTX co-founder Sam Bankman-Fried (SBF) are exploring avenues to secure a presidential pardon for their son from Donald Trump, according to Bloomberg. A source told the publication that Stanford professors Joseph Bankman and Barbara Fried have recently met with lawyers and individuals allegedly close to Trump’s team to assess the prospects of […]

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ForkLog 15 09.01.2025

FTX disputes Backpack Exchange’s claim to have bought FTX EU

FTX’s liquidators called Backpack’s statements about an alleged acquisition of FTX EU and the reimbursement of former customers “misleading”. The FTX Debtors today provided clarification on certain statements by Backpack relating to Backpack’s purported acquisition of FTX EU. Read more here: https://t.co/WVwfNXBKRj — FTX (@FTX_Official) January 8, 2025 FTX said the company, founded by former […]

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ForkLog 9 27.12.2024

Former FTX Executive Ryan Salame’s Prison Term Reduced

Ryan Salame, the former head of the Bahamian division of the cryptocurrency exchange FTX, will serve one year less than his original prison sentence in Cumberland, Maryland, USA. This information is available on the Federal Bureau of Prisons website. In September 2023, he pleaded guilty to criminal charges related to the collapse of FTX. These […]

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ForkLog 27 25.12.2024

Kaiko Highlights 2024 in Ten ‘Best Charts’

Kaiko described 2024 as a landmark year for cryptocurrency markets, summarizing it through ten charts. Bitcoin’s Path to $100,000 The market strengthened following the launch of BTC-ETF, with the fourth halving proceeding without surprises. Waves of billion-dollar liquidations did not overshadow the success of digital gold. The price increase since the beginning of the year […]

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ForkLog 22 17.12.2024

FTX to Begin Creditor Payments in 2025

The court-approved reorganisation plan for FTX will take effect on January 3, 2025. The initial distribution of funds among creditors with unsecured claims will occur within 60 days. The FTX Debtors today announced that the effective date for its Plan of Reorganization has been set for January 3, 2025, which is also the initial distribution […]

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ForkLog 28 20.11.2024

Shaquille O’Neal Settles Astrals NFT Investor Lawsuit for $11 Million

Basketball legend Shaquille O’Neal paid $11 million to settle a class-action lawsuit from investors of the NFT project Astrals. On May 23, 2023, during a basketball game at the FTX Arena (renamed Kaseya Center), O’Neal, who was commentating on the event, was served with a double subpoena. He was accused of promoting the Astrals NFT […]

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ForkLog 35 11.11.2024

FTX Seeks $1.8 Billion from Binance in Legal Pursuits Against 23 Firms

The bankrupt cryptocurrency exchange FTX has recently filed 23 lawsuits in Delaware’s bankruptcy court against various companies and individuals to recover funds for creditors, reports Bloomberg. Binance In the lawsuit against Binance Holdings Ltd. and its founder Changpeng Zhao (CZ), FTX’s lawyers demand the return of $1.8 billion paid during a stock buyback in 2021. […]

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ForkLog 7 08.11.2024

Alameda CEO Begins Sentence as FTX Co-founder Aids Government Efforts

Gary Wang, co-founder of the defunct FTX, is assisting the U.S. government in developing software for oversight and fraud prevention. This information emerged from court documents. Wang’s defense disclosed his involvement in two projects: one aimed at detecting potential scams in public markets, and another focused on identifying illegal activities on cryptocurrency trading platforms. These […]

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ForkLog 15 28.10.2024

FTX Withdraws Lawsuit Against Bybit in $228 Million Settlement

The bankrupt cryptocurrency exchange FTX has withdrawn its lawsuit against Bybit, its executives, and its investment arm Mirana as part of a settlement that will secure approximately $228 million for future creditor compensation, reports The Block. Negotiations spanned several months. The settlement entails FTX reclaiming $175 million in cryptocurrencies held on Bybit and selling over […]

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ForkLog 30 13.10.2024

Former FTX Executive Ryan Salame Begins Prison Sentence

Ryan Salame, the former head of the Bahamian division of the cryptocurrency exchange FTX, has arrived at a federal prison in Cumberland, Maryland, to begin serving his sentence, according to The Block. Previously, the former executive joked about having an “exciting week” ahead. He added that he hadn’t “made friends at camp” in 20 years […]

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ForkLog 13 09.10.2024

Caroline Ellison Agrees to Surrender ‘Nearly All Assets’ to FTX

The bankrupt exchange FTX has filed a motion to approve a settlement with former Alameda Research CEO Caroline Ellison, under which she will surrender “nearly all her assets.” The court will review the motion on November 20. Ellison has agreed to hand over to FTX creditors everything remaining after government confiscation related to her criminal […]

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