FTX
Sullivan and Cromwell's Sale of Solana (SOL) at a Massive Discount Raises Concerns among FTX Creditors
The recent sale of 2/3 of $2.6 billion worth of Solana tokens by law firm Sullivan and Cromwell at a significant discount has sparked controversy. FTX Creditor Champion, Sunil, expressed concerns about the impact on FTX creditors, while others question the legality of the sale. This article delves into the details of the sale and the reactions it has garnered.
FTX and Alameda Reach $874M Settlement with BlockFi Amid Bankruptcy Proceedings
FTX and Alameda have agreed to an "in principle" settlement with BlockFi, potentially paying up to $874 million, marking a significant development in the ongoing bankruptcy saga.
Samuel Bankman-Fried (SBF) Awaits Sentencing Amidst Restitution Promises
Samuel Bankman-Fried, the defendant in a high-profile crypto fraud case, could potentially see a reduced sentence as FTX estate hints at full customer restitution.
Super Bowl LVIII Shifts Focus: Entertainment Over Crypto Ads
Super Bowl LVIII marked a shift in advertising trends, shifting away from cryptocurrency ads, despite strong crypto presence, and towards entertainment and traditional brand promotions over financial technology themes.
SBF Faces Curcio Hearing Over Conflicted Representation
Scheduled for a Curcio hearing on February 21, former FTX CEO Sam Bankman-Fried confronts potential legal representation conflicts, spotlighting the intricate legal challenges in the aftermath of FTX's collapse.
US Court Approves Sealed Settlement in BlockFi vs. 3AC Dispute
A US judge approved a confidential settlement between BlockFi and Three Arrows Capital, aiming to resolve financial disputes without further litigation. The details remain sealed to protect sensitive information amidst BlockFi's bankruptcy proceedings and its implications on the broader crypto market.
Federal Reserve Lifts Enforcement Action on FTX-Linked Farmington Bank
The Federal Reserve has terminated its enforcement action against Farmington State Bank, linked to the collapsed crypto exchange FTX, marking the bank's shift away from operations and reinforcing depositor protection efforts.
FTX Seeks to Liquidate $1.4 Billion Anthropic Stake Amid Bankruptcy Proceedings
FTX seeks court approval to divest its $18 billion stake in Anthropic, part of its post-collapse asset liquidation strategy, to repay customers and fulfill stakeholder commitments.
FTX Seeks Court Approval to Sell $175M Genesis Claim Amid Bankruptcy Proceedings
FTX has filed a motion in Delaware court to sell a $175 million claim against bankrupt Genesis Global Capital, aiming to optimize returns from the sale. The move is part of FTX's broader strategy to manage its financial recovery post-collapse, with the proposed sales procedure designed to ensure maximum value from the claim amidst Genesis's ongoing legal and financial challenges.
FTX's Restructuring Plan: Aiming for Full Customer Repayment Without Relaunching Exchange
FTX aims to fully reimburse its customers and creditors as part of its restructuring plan. This approach, focusing on repayment without relaunching the exchange, is based on valuations of assets as of November 2022, drawing mixed reactions from the crypto community.