Changpeng Zhao (CZ) has filed a motion to dismiss a $1.76 billion lawsuit brought against him by the FTX bankruptcy trust. He says the court has no legal authority over him because he lives in the United Arab Emirates (UAE). CZ’s Defence According to a Bloomberg report, his legal team submitted the motion on Monday […]
Bankrupt crypto exchange FTX is asking the court to greenlight a plan that could potentially deny billions in creditor repayments to users in 49 countries where crypto faces legal restrictions. This could disproportionately impact Chinese users, who reportedly represent 82% of the affected claim value. Navigating Legal Minefields in Restricted Jurisdictions The FTX proposal, detailed […]
Shaquille O’Neal has agreed to pay $1.8 million to resolve allegations tied to his promotion of the now-defunct cryptocurrency exchange FTX, marking a rare celebrity settlement in the wider legal fallout from the platform’s collapse. Filed in a Florida federal court, the proposed agreement would end a class action lawsuit that accused the former NBA […]
The FTX Recovery Trust has announced it will begin disbursing more than $5 billion to creditors from May 30. This payment round marks the second distribution to eligible parties as the firm continues its efforts to reimburse those affected by its collapse. Repayment Efforts In a May 15 release, the company’s bankruptcy estate categorized creditors […]
Sam Bankman-Fried, the former CEO of the now-defunct cryptocurrency exchange FTX, has been transferred to a federal prison in Victorville, California, according to updated information from the Federal Bureau of Prisons (BOP). The move marks the latest chapter in Bankman-Fried’s post-sentencing journey, following his 25-year prison term for orchestrating one of the most significant financial […]
The bankruptcy estate of the defunct cryptocurrency exchange FTX has revealed that it will not be paying roughly $2.5 billion in claims to victims of its collapse as creditor repayments continue. According to a filing with the U.S. Bankruptcy Court for the District of Delaware, customers affected by the latest development are those who failed […]
This weekend, FTX revealed its plan to begin paying major creditors in 2025, with $11.4 billion in assets. Meanwhile, former BitMEX CEO Arthur Hayes, along with his co-founders, received pardons from President Trump after a lengthy legal battle over regulatory violations. Crypto news that flew under the radar. FTX to Begin Paying Major Creditors in […]
Sam Bankman-Fried (SBF), the disgraced founder of cryptocurrency exchange FTX, has conducted a second interview from prison, once again drawing controversy and causing repercussions for his crisis management team. The interview, hosted by Tucker Carlson and posted on social media on Bankman-Fried’s 33rd birthday, took even his own public relations representative, Mark Botnick, by surprise. […]
The parents of the disgraced FTX co-founder Sam Bankman-Fried are looking into options to obtain a pardon for their son from former US President Donald Trump, according to a Bloomberg report. Stanford Law School professors Joseph Bankman and Barbara Fried have reportedly held discussions in recent weeks with attorneys and individuals linked to Trump’s circle […]
The bankrupt crypto lender Celsius Network has filed an appeal challenging a court ruling that dismissed its $444 million claim against the defunct crypto exchange FTX. The appeal, which is currently awaiting review in the District Court, comes as part of Celsius’ ongoing litigation efforts to recover funds from FTX. Celsius’ Initial Claim According to […]