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Bankruptcy News
Financial instability continues to shake the crypto industry, and bankruptcy news tracks major collapses of exchanges, lending platforms, and hedge funds. From liquidity crises to court battles, bankruptcies have long-term effects on investors, creditors, and the broader digital asset market. Regulatory responses continue to shape how insolvencies are handled.
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FTX’s next distribution slated for May 30
Latest Bankruptcy News
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Bankrupt cryptocurrency exchange FTX appears to owe a significant sum of money to creditors in more than twenty countries, including Ukraine. Crypto investors from more than 20 customers, including Ukraine, China, and Russia, are not eligible for FTX distributions, Sunil…
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Defunct crypto exchange FTX will commence its next distribution on May 30, following initial repayment that started this week.
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The FTX estate kicked off creditor repayments on Feb. 18 by 10 a.m. Eastern Time, almost three years after the crypto exchange collapsed.
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Traders who own Ethereum in their FTX holdings stand to gain back $2,500 as FTX repayments for its Bahamas creditors start this month. The FTX repayment plan, scheduled to start on Feb. 18, will repay creditors’ claims in full, including…
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FTX confirmed readiness to begin repayments for Bahamas creditors this month, ahead of larger disbursements expected in Q1 2025.
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Cryptocurrency exchange Backpack issued a statement addressing controversy surrounding its purchase of FTX EU. Questions about the sale of FTX EU and who’s responsible for customer funds have sparked a response from Backpack Exchange, after the FTX estate’s statements left…
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Bankrupt crypto exchange Cryptopia returns around $225 million worth in cryptocurrency to account holders via liquidators. This is the first phase of Cryptopia’s distribution plan since it went bankrupt in 2020. According to the NZ Herald, the New Zealand-based crypto…
Follow-up
Two decades after its collapse, the Enron brand is making a surprising return, this time dabbling in crypto and NFTs under a satirical rebranding. Enron is back, but only if you believe birds aren’t real. Twenty-three years after Enron became…
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Enron Corporation plans to relaunch its business by leveraging blockchain technology following its historical collapse in 2001.
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FTX has nearly finalized preparations for its court-approved repayment plan two years after the crypto exchange crashed due to bad corporate practices and fraud.
Follow-up
FTX co-founder Gary Wang, convicted of misusing funds at a fictitious crypto exchange, may face punishment after his case goes to trial. On Nov. 13, prosecutors in the U.S. District Court for the Southern District of New York filed a…
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Bitcoin
Follow-up
November marks two years since the FTX exchange went bankrupt. Since then, major crypto exchanges have seen their Bitcoin reserves grow. FTX’s inability to maintain sufficient reserves to meet user requests exposed severe flaws in its controls. It also highlighted…
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Bitcoin
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Former FTX executive, Nishad Singh, avoids prison time after being sentenced the Manhattan federal judge. Singh is sentenced to three years of supervised release for his role in FTX’s collapse. According to NBC News’ report, Singh was spared from spending…
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Former FTX head of engineering, Nishad Singh, urged a Manhattan federal judge to exempt him from a prison sentence for his role in the fall of the cryptocurrency exchange platform. As reported by Bloomberg on Oct. 16 lawyers representing Nishad…
Follow-up
Bankrupt crypto exchange Mt. Gox has once again postponed the repayment deadline for its creditors. Now, some victims of its collapse will not be able to receive funds until next year. The new report shows that most creditors have already…
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Bitcoin
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FTX customer Nikolas Gierczyk accuses Olympus Peak of underpaying him after buying his FTX bankruptcy claim worth $1.59 million, alleging the hedge fund owes him much more in additional recovery. According to a Bloomberg report on Oct. 11, Californian Nikolas…
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