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Tag Archives: FTX Exchange

FTX Gets Two Dozen Buyers to Sell Majority of its Stake in Anthropic for $884 Million

FTX is looking to sell a majority of its shares in artificial intelligence startup Anthropic to over 20 buyers, including an Abu Dhabi investment company and Jane Street Global. The sale could provide ample funds for the bankrupt crypto exchange to repay creditors affected by FTX’s collapse. FTX to Sell Over 29 Million Shares from its Anthropic Stake According to court documents on March 22, FTX would sell approximately 29.5 million shares in Anthropic to a total of 24...

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FTX CEO Criticizes SBF’s Bold Claim of ‘Zero’ Harm to Customers as ‘Reckless’ and ‘False’

The current CEO of FTX, John Ray, has disputed the former CEO Sam Bank Fried’s assertion that there was “zero” harm to customers during the platform’s collapse in 2022, labeling the claim as “reckless” and “false.” Ray’s criticism follows Bankman-Fried’s conviction in November for embezzling $8 billion from FTX customers. John Ray Challenges SBF’s Defense Strategy The former CEO’s defense strategy has relied heavily on the notion that since there might be a chance of customer...

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SBF’s Lawyers Fire Back Against DOJ’s Harsh Sentencing Bid of 40-50 Years

In its letter to District Judge Lewis Kaplan on Tuesday, the legal team behind the disgraced FTX founder Sam Bankman-Fried has contested the sentencing recommendation put forth by the Department of Justice last week. The US prosecutors had previously proposed a prison term of 40 to 50 years for the former FTX CEO, but the lawyers deemed the memorandum “disturbing.” SBF Lawyers Cry ‘Not Justice’ In a letter submitted on March 19th, SBF’s lawyers argued that the memorandum...

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Pantera Capital Eyes $250 Million Opportunity with FTX Estate for SOL: Report

Pantera Capital is reportedly in the process of securing funds from major investors to acquire heavily discounted Solana tokens from the bankruptcy estate of FTX. The company is raising capital for the Pantera Solana Fund, which presents an attractive opportunity to purchase up to $250 million worth of SOL tokens from the FTX estate. Marketing materials from February, obtained by Bloomberg, reveal that investors would have the option to buy SOL at a price 39% below the 30-day...

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FTX, Alameda Settle with BlockFi, Set to Pay $874 Million

Bankrupt firms BlockFi and FTX have announced an agreement “in principle” to settle their disputes. According to a March 6 court filing, FTX has committed to paying up to $874.5 million to BlockFi, marking a potential resolution to a long-standing legal battle between the two entities. $874 Million Settlement Under the agreement terms, subject to court approval, BlockFi stands to receive compensation that includes an allowed customer claim of $185.2 million against FTX.com....

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Here’s the Deadline Date for FTX Creditor Claims

The official liquidator of FTX has instructed creditors to file electronic claims by May 15, 2024. The claims portal managed by PricewaterhouseCoopers (PwC) anticipates commencing its initial distribution either in late 2024 or early 2025, with all valid claims being expressed in U.S. dollars. PwC Announces Chapter 11 Settlement for FTX and Debtors In a statement, PricewaterhouseCoopers (PwC), the official liquidator overseeing FTX’s bankruptcy proceedings, disclosed that FTX...

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FTX Cleared to Sell Shares in Artificial Intelligence Startup Anthropic

A US judge has authorized FTX to offload its ownership in Anthropic, an AI startup potentially. The decision came after the failed exchange settled a dispute with a faction of its customers who objected to the sale. Court records show FTX’s intent to sell these shares as part of its supervised asset liquidation to reimburse customers affected by its 2022 downfall. Anthropic Stake Sale Approved FTX and its affiliated company, Alameda, injected $500 million into Anthropic in...

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FTX to Sell Off Digital Custody at a Very Steep Markdown

After entertaining the possibility of restarting FTX following the bankruptcy process for a long time, lawyers for the defunct exchange have announced that that plan is now scrapped, and the company will simply dissolve once all debts are paid off. Andrew Dietrich, one of the lawyers representing FTX in the court case, stated that although repayment of creditors in full is not yet guaranteed, it is an objective that is definitely attainable. Creditors would only be receiving...

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Larry David Expresses Regret Over FTX Ad Amid Founder’s Fraud Conviction

The popular actor and comedian Larry David has expressed remorse over participating in a high-profile 2022 Super Bowl commercial for the now-fallen cryptocurrency exchange FTX. Notably, Sam Bankman Fried, the FTX founder, was imprisoned after he was found guilty of fraud, conspiracy, and money laundering last year. Larry David Reflects on FTX Ad Regret Speaking to The Associated Press at the Los Angeles premiere of the final season of “Curb Your Enthusiasm,” a series he...

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FTX Bankruptcy Says Customers Will Get 100% Of Their Money Back

Defunct crypto exchange FTX expects to pay its customers and creditors back “in full” after the company’s collapse over a year ago left counterparties billions of dollars in the hole. Given its optimistic projections, the team overseeing the bankruptcy has also dropped plans to potentially relaunch the exchange. FTX Plans A Full Asset Recovery During a Wednesday court hearing, FTX lawyer Andrew Dietderich told the judge overseeing the case that 100% repayment still isn’t a...

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