Bankruptcy News

FTX’s next $1.9 billion distribution may include repayments to jurisdictions questioned in an earlier motion that is being rewritten, creditors say.

A US bankruptcy court is set to decide whether to block creditor payouts to certain countries after receiving nearly 70 objections from creditors in China, Saudi Arabia and more.

Thousands of savers face potential losses after a $2.7 million shortfall was discovered at Ziglu, a British crypto fintech that entered special administration.

BlockFi’s bankruptcy administrator and the DOJ have settled a $35 million crypto asset transfer lawsuit.

The motion to pause repayments to residents of certain countries has added a new wrinkle to the FTX saga.

Ripple shareholder Linqto has filed for bankruptcy following months of controversy around securities laws violations, with the first hearing expected on Tuesday.

FTX’s bankruptcy estate is uncertain whether it is legally entitled to distribute payouts to creditors in countries such as China amid local crypto restrictions.

FTX lawyers argued that creditors should not serve as a “backstop” for Three Arrows Capital’s risky leveraged strategy.

Alex Mashinsky and related entities have forfeited all claims to Celsius’ bankruptcy estate as the court prioritizes restitution to creditors.

FTX creditors are awaiting progress on at least $2.2 billion worth of disputed claims, with some users reporting issues with the KYC verification process.

The UK Insolvency Service has hired a former police investigator to help creditors recover cryptocurrency from failed companies and criminal cases.

The payouts to FTX creditors have sparked both controversy and speculation that the payouts could be reinvested back in the crypto markets.

Not all FTX account holders will be reimbursed in the second distribution of assets, but the trust said it will send more than $5 billion “within 1 to 3 business days” of May 30.

Former Cred CEO Daniel Schatt and ex-financial chief Joseph Podulka admitted to misleading customers about the firm’s financial troubles as part of a plea agreement.

Backpack allows former FTX EU users to reclaim euro balances after KYC verification, following its acquisition of the bankrupt crypto platform's EU arm.