Bankruptcy News

Sam Bankman-Fried claimed that handing over FTX to its current CEO was the “single biggest mistake” that prevented him from saving the exchange.

The lawsuit alleges former FTX CEO Sam Bankman-Fried directed investments in the crypto mining company, funds the exchange’s trust wants returned.

The distribution marks the third payout to creditors of the former exchange as it continues dispensing up to $16.5 billion in funds.

The latest legal battle between Digital Currency Group and Genesis centered on a promissory note issued amid the collapse of Three Arrows Capital in 2022.

Changpeng Zhao has asked a court to dismiss FTX’s $1.8 billion lawsuit over a share buyback deal the bankrupt exchange claims was funded with misused assets.

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.