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FTX Scandal Deepens: Creditors Fume Over Minimal Payouts
The fallout from FTX’s bankruptcy continues to escalate. Newly revealed details about the size of expected compensation have sparked outrage among creditors. It has come to light that a portion of the funds recovered from the liquidation of the exchange's assets is set to go to preferred shareholders.
FTX Strikes $228M Deal with Bybit: What It Means for Users
The bankrupt crypto exchange FTX reached a $228 million settlement with Bybit, aimed at reclaiming assets to bolster funds for client and creditor repayments. FTX's restructuring team actively sought to recover assets to strengthen its payout capacity.FTX Estate to Auction 22.3 Million Worldcoin Tokens
FTX Estate is set to auction 22.3 million Worldcoin (WLD) tokens at a significant discount, currently valued at $35 million. This sale is part of the ongoing efforts to recover funds for creditors of the bankrupt crypto exchange founded by Sam Bankman-Fried.Caroline Ellison Sentenced to 2 Years, Dubbed “Queen of the Rats”
Caroline Ellison, the former CEO of Alameda Research and a key witness in the trial of FTX founder Sam Bankman-Fried, has been sentenced to two years in prison, followed by three years of supervised release. During this period, she must cooperate with the U.S. Securities and Exchange Commission (SEC). The court also ordered her to pay an $11 billion fine and forfeit her assets.