FTX Reimburses Shareholders 100 Percent
FTX promises to reimburse up to 25% of crypto assets held during its bankruptcy, under DOJ supervision. Could this be the start of a new, more regulated era in crypto? ?? #Crypto #Humor
Ftx
FTX Creditors Payments Start September 30
FTX creditors may get up to 118% of deposits back, with payments starting late 2024 to mid-2025. Court decision on October 7 will set the final plan. Experts predict this will boost the crypto market. $FTX #Crypto #Update
FTX Auditor Prager Metis Fined $1.95M
Prager Metis fined $1.95M by SEC for negligence in auditing FTX. Firm to pay $745K for inadequate audit and $1.2M for violating independence rules. SEC mandates corrective measures to improve audit practices for cryptocurrency sector integrity.
Solana Unstaked by FTX Wallet Raises Concerns
FTX unstaked 177,693 $SOL worth $23.75M, sparking sell-off concerns. Despite this, FTX still holds 7.1M $SOL valued at $953M. Solana’s price rose 2.5% in 24 hours, reflecting a broader crypto rally. @AlamedaResearch transferred Worldcoin and AAVE to exchanges.
FTX Settlement: $600M Motion with Emergent
FTX proposes a $14M settlement with Emergent to resolve claims over $600M in Robinhood shares. The deal aims to expedite bankruptcy proceedings and streamline FTX’s reorganization. Court hearing set for Oct 22.
SEC Blocks FTX Crypto Payments
SEC warns FTX against repaying creditors in cryptocurrencies, citing legality concerns. Coinbase’s Chief Legal Officer criticizes the lack of clear guidelines. FTX plans to distribute $14B-$16B to creditors despite regulatory hurdles. Clear guidelines needed.
DOJ Charges Ex-FTX Exec’s Girlfriend
Michelle Bond, partner of ex-FTX exec Ryan Salame, charged by DOJ for using $400,000 in FTX funds for her 2022 Congressional campaign. Both accused of concealing illegal financing. Salame seeks to annul his guilty plea.
FTX CEO Seeks Guilty Plea Withdrawal
Ex-FTX Bahamas CEO Ryan Salame seeks to revoke his guilty plea, alleging prosecutors breached their agreement by continuing to investigate his partner, Michelle Bond. Salame, sentenced to 7.5 years and fined $11M, claims coercion. $FTX #CryptoNews
Crypto Law Passed in Bahamas Post-FTX Collapse
The Bahamas enacts the DARE 2024 Act post-FTX collapse, tightening crypto regulations with investor protection, KYC, and the first-ever staking disclosure regime. Stablecoin issuance now faces strict guidelines and a ban on algorithmic stablecoins. #CryptoRegulation
Bahamas Crypto Law Follows FTX Collapse
The Bahamas’ DARE 2024 Act regulates cryptocurrency, introducing investor protection, KYC procedures, and stablecoin issuance rules. It prohibits algorithmic stablecoins and sets reporting standards, aiming to enhance market stability and investor security.
BitFlyer Buys FTX Japan: Major Crypto Acquisition
BitFlyer acquires 100% of FTX Japan’s shares, planning a relaunch by August under a new name. This move aims to introduce a custodial business in preparation for a potential Bitcoin spot ETF launch in Japan. $BTC #CryptoUpdate #Update
Bitcoin 2024: Trump, FTX Fine, WazirX Hack, Ethereum-ETF
Bitcoin hits a new high at $67,539, with a 13.4% weekly surge boosting its market cap to $1.32T. Donald Trump to speak at Bitcoin 2024 conference. FTX settles $12.7B with CFTC; WazirX hacked for $235M. $ETH ETF launch may push price to $5K. #Update
FTX Settles with CFTC for $12.7B Fine
FTX agrees to a $12.7B settlement with the CFTC over fraud allegations, aiming to expedite Chapter 11 proceedings and compensate creditors. $4B is for disgorgement and $8.7B for damages. Court review on Aug 6, 2024. #CryptoRegulation #Update
Crypto Surge Expected After $16B FTX Payouts
FTX will repay creditors $14B-$16B by late 2024, boosting the crypto market. Smaller claims get 118% in 60 days; larger claims receive 127%-142%. With the U.S. elections, this $16B liquidity surge is expected to drive growth in $BTC and $ETH. #Update