According to Sky News, FTX has promised that 98 per cent of investors will get 118 per cent of their money back within 60 days of the company’s proposed plan coming into effect. Why this doesn’t work out at 100 per cent of investors getting 100 per cent of their money back is unkn...
FTX says most customers affected by the cryptocurrency exchange’s collapse will get all their money back. Bankruptcy lawyers for the fallen firmsay they’ve collectedassets valued at up to $16.3 billion — more than they will need to repay the company’s estimated $11 billion debt. ...
But in a letter to the judge Wednesday, attorney Marc Mukasey said that a March 5 letter from debtors to the bankruptcy court indicated that “it appears more and more likely that FTX investors may be in position to recover 100 percent of their cl...
If the court dismisses the lawsuit, investors get 80% of their money back. Beyond that point, they either lose their investment if the plaintiffs lose the case, or they get between 2x and 3.5x returns, depending on the timeline of a settlement or judgment. The tokens themselve...
As BeInCrypto reported, FTX creditors will get between 10% and 25% of their crypto back. Notably, the repayments will come according to the petition date, which means when crypto prices were much lower. To put it in perspective, Bitcoin’s (BTC) price was $16,000 at the time and aroun...
Silvergate’s bank run was the result of its alleged exposure to FTX, and as depositors took their money away, the bank had to reduce its balance sheet by selling the most liquid assets - Treasuries. The losses turned out to be more than mere “inconvenience”, and the vicious circle ...
The "Bitcoin Beautee" (2024): Xue Lee, known as "Sam Lee," and Brenda Chunga, known as the "Bitcoin Beautee," pleaded guilty for their involvement in a crypto pyramid scheme called "HyperFund," which pulled in more than $1.7 billion from investors worldwide. According to the SEC, fr...
Although VCs filled their pockets by dumping worthless tokens on retail investors during the last bull run,this time, they got burnt, particularly with Alameda and FTX. Institutionslost accredited investors' money. Pension fundslost savers' hard-earned cash. ...
Customers and creditors of bankrupt crypto exchange FTX who can prove their losses will likely get back all of their money, the company told the judge overseeing the insolvency case. Restructuring advisers will need to examine the millions of claims that have been filed against FTX to weed ...
funds also lost money on FTX. It takes a long time for these types of entities to get into a new asset class like Bitcoin and crypto, and an event like this caused them to pull the hand brake on their investment activities as they wait for the seas to calm and regulators to respond....