Breaking News: FTX – Market Insights, Analysis & Latest Updates

FTX creditors in Bahamas process with claims below $50,000 to receive repayments on Feb. 18

FTX Digital Markets will begin repayments to creditors with claims up to $50,000 by February 18, offering a 9% interest rate and significant compensation expected.

theblock.co • 04/02/2025 - 17:38 PM

FTX

LayerZero reaches settlement with FTX estate over Alameda deal

LayerZero Labs settles with the FTX bankruptcy estate after legal disputes over Alameda transactions, allowing the company to refocus on development.

theblock.co • 31/01/2025 - 10:35 AM

Backpack seeks to clarify EU entity acquisition deal following FTX estate's dispute over certain claims

The FTX estate claims Backpack Exchange’s FTX EU acquisition announcement was issued without its knowledge and said Backpack has no involvement in the U.S. Bankruptcy Court-approved process for returning funds to any FTX creditors. Backpack sought to clarify the situation, explaining that it will assume sole responsibility for returning funds to former FTX EU customers once the share transfer is complete.

theblock.co • 09/01/2025 - 11:40 AM

CFTC Chair Rostin Behnam plans to step down following continued calls to regulate crypto

CFTC Chair Rostin Behnam is resigning amid the incoming Trump administration, after advocating for stronger crypto regulations and overseeing enforcement actions against major digital asset firms.

theblock.co • 07/01/2025 - 15:03 PM

FTX EU acquired by Backpack Exchange, an exchange founded by previous FTX and Alameda employees

Backpack Exchange has acquired FTX EU, intending to handle bankruptcy claims and offer regulated crypto trading in Europe, emphasizing customer restitution and adherence to emerging regulations.

theblock.co • 07/01/2025 - 08:00 AM

FTX customers to get distributions through Kraken and BitGo with bankruptcy plan set to be effective on Jan. 3

FTX customers will receive bankruptcy distributions via Kraken and BitGo, effective January 2025, following the exchange's collapse and bankruptcy proceedings.

theblock.co • 16/12/2024 - 18:00 PM

FTX plans to start reimbursing users by March 2025 as restructuring wraps up

According to a statement on Thursday, the firm expects its reorganization efforts to likely wrap up early next year, “paving the way for FTX to begin creditor and customer distributions.”

theblock.co • 21/11/2024 - 22:26 PM

The Daily: FTX co-founder Gary Wang avoids prison time, BlackRock's Bitcoin ETF sees unprecedented first-day options trading and more

FTX co-founder Gary Wang avoided prison time at a sentencing hearing on Wednesday, according to Inner City Press and Reuters. BlackRock’s IBIT spot Bitcoin ETF achieved nearly $1.9 billion in notional exposure during its first day of options trading on Tuesday. Bernstein analysts named Robinhood the top “crypto deregulation trade,” following Donald Trump’s election win this month, raising their HOOD share price target to $51 — around 45% upside potential. The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

theblock.co • 20/11/2024 - 18:54 PM

FTX

FTX co-founder Gary Wang receives no prison time following fallout of crypto exchange: reports

Gary Wang pleaded guilty in December 2022 to fraud-related charges following the collapse of FTX a month earlier. Bankman-Fried and Wang first met at a summer math camp during high school and maintained their friendship through college at MIT.

theblock.co • 20/11/2024 - 15:38 PM

Sen. John Thune to lead the Senate as majority leader following moves to back crypto legislation

Sen. John Thune, a pro-crypto Republican from South Dakota, has been elected Senate Majority Leader and supported significant crypto legislation like DCCPA and the repeal of SAB 121.

theblock.co • 13/11/2024 - 18:54 PM

Currency