FTXbankruptcy
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🚾 FTX bankruptcy managers accused of extravagant spending
😡 FTX creditors have filed a lawsuit demanding stricter oversight of lawyers’ expenses during the cryptocurrency exchange’s bankruptcy proceedings.
Among the highlighted extravagant costs are repeated stays in five-star hotels in New York, Delaware, and Nassau, as well as inflated taxi expenses.
✅ For instance, a single lawyer from Alvarez & Marsal spent $1,733 on taxi rides in one week, while airfare costs reached up to $4,279 per trip.
#Ftx❓ #FTXbankruptcy #CryptoMarketDip #Write2Earn #CryptoNews
😡 FTX creditors have filed a lawsuit demanding stricter oversight of lawyers’ expenses during the cryptocurrency exchange’s bankruptcy proceedings.
Among the highlighted extravagant costs are repeated stays in five-star hotels in New York, Delaware, and Nassau, as well as inflated taxi expenses.
✅ For instance, a single lawyer from Alvarez & Marsal spent $1,733 on taxi rides in one week, while airfare costs reached up to $4,279 per trip.
#Ftx❓ #FTXbankruptcy #CryptoMarketDip #Write2Earn #CryptoNews
😱⏳🤠 𝐖𝐡𝐨 𝐢𝐬 𝐉𝐨𝐡𝐧 𝐉. 𝐑𝐚𝐲 𝐈𝐈𝐈, 𝐭𝐡𝐞 𝐍𝐞𝐰 𝐂𝐄𝐎 𝐨𝐟 𝐅𝐓𝐗? 💫
John J. Ray III, a renowned restructuring expert, has stepped in as the new CEO of the embattled cryptocurrency exchange FTX following the company's dramatic collapse. At 63 years old, Mr. Ray has a wealth of experience handling high-profile corporate failures, with one of his most notable roles being his involvement in the aftermath of Enron’s infamous collapse in 2001 due to an accounting scandal.
Mr. Ray’s reputation as a lawyer who specializes in rescuing failing companies made him a natural choice to take over FTX after its former CEO, Sam Bankman-Fried, resigned amidst mounting legal pressures. Bankman-Fried, who was arrested in the Bahamas and is facing criminal charges in the U.S., is also under investigation by the Securities and Exchange Commission for misleading investors.
Since taking charge at FTX, Mr. Ray and his team have made significant strides in securing assets, recovering approximately $740 million in cryptocurrency from various parts of the business. However, this is just a fraction of what they aim to recover, as FTX’s bankruptcy proceedings have revealed that the company owes customers a staggering $8 billion. Mr. Ray has emphasized that there is still much work to be done as FTX seeks to rebuild and recover from its downfall.
In official filings, Mr. Ray’s leadership has distanced itself from Bankman-Fried, stating unequivocally that Bankman-Fried "is not employed by the debtors" and does not represent the company's interests. This clear separation signals a new direction for FTX under Mr. Ray’s guidance, as he works to restore order and accountability.
#FTXAuction #FTXbankruptcy #ftxestate #BitcoinTurns16 #BinanceAlphaAlert
John J. Ray III, a renowned restructuring expert, has stepped in as the new CEO of the embattled cryptocurrency exchange FTX following the company's dramatic collapse. At 63 years old, Mr. Ray has a wealth of experience handling high-profile corporate failures, with one of his most notable roles being his involvement in the aftermath of Enron’s infamous collapse in 2001 due to an accounting scandal.
Mr. Ray’s reputation as a lawyer who specializes in rescuing failing companies made him a natural choice to take over FTX after its former CEO, Sam Bankman-Fried, resigned amidst mounting legal pressures. Bankman-Fried, who was arrested in the Bahamas and is facing criminal charges in the U.S., is also under investigation by the Securities and Exchange Commission for misleading investors.
Since taking charge at FTX, Mr. Ray and his team have made significant strides in securing assets, recovering approximately $740 million in cryptocurrency from various parts of the business. However, this is just a fraction of what they aim to recover, as FTX’s bankruptcy proceedings have revealed that the company owes customers a staggering $8 billion. Mr. Ray has emphasized that there is still much work to be done as FTX seeks to rebuild and recover from its downfall.
In official filings, Mr. Ray’s leadership has distanced itself from Bankman-Fried, stating unequivocally that Bankman-Fried "is not employed by the debtors" and does not represent the company's interests. This clear separation signals a new direction for FTX under Mr. Ray’s guidance, as he works to restore order and accountability.
#FTXAuction #FTXbankruptcy #ftxestate #BitcoinTurns16 #BinanceAlphaAlert
BREAKING: FTX HAVE STARTED DISTRIBUTION OF $16 BILLION TO ITS CREDITORS.
BREAKING: FTX HAVE STARTED DISTRIBUTION
OF $16 BILLION TO ITS CREDITORS. $BNB
$BTC
$ETH
IS MEGA PUMP COMING?
#FTXAuction #FTXbankruptcy #ftxpayback #CryptoNewsCommunity
OF $16 BILLION TO ITS CREDITORS. $BNB
$BTC
$ETH
IS MEGA PUMP COMING?
#FTXAuction #FTXbankruptcy #ftxpayback #CryptoNewsCommunity
MARKET MOVING NEWS
🔔 MARKET MOVING NEWS! (02/01/25)
1️⃣ Illegal Crypto Ads Prevail In UK Despite FCA Warning
According to a Financial Times report, illegal crypto ads continue to appear in the United Kingdom (U.K.) despite the fact that the U.K.’s Financial Conduct Authority (FCA) is asking crypto projects to remove their advertisements targeting the country. The report states that only 54% of the 1,702 alerts issued by the FCA between October 2023 and October 2024 ended in illegal crypto ads being taken down. The FCA has yet to penalise the remaining companies that failed to remove crypto ads violating its rules.
2️⃣ Elon Musk’s Bizarre Name Change On X Turns Trader’s $66 Into $3M Profit 🕯
According to blockchain analytics firm Lookonchain, one lucky memecoin trader managed to turn $66 into almost $3 million in just 18 days after they bought a meme based on Tesla founder Elon Musk’s brief name change on X to “Kekius Maximus” — a reference to a Pepe-Gladiator meme. Specifically, onchain data shows that the trader bought 10.17 million Kekius Maximus (KEKIUS) tokens on Dec. 14. They then sold 2.81 million KEKIUS tokens for 60.3 ETH on Jan. 1 while holding the rest, making an eye-popping 45,900-fold paper gain.
#ElonMuskTwitter
3️⃣ Celsius To Appeal Order That Disallowed Its $444M Claim Against FTX 🔍
Defunct crypto lending platform Celsius has reportedly filed a notice of appeal against a court order that disallowed its claims for damages from FTX as part of its ongoing bankruptcy case. For context, Celsius had filed two claims that sought to claw back hundreds of millions from FTX. The first claim sought $2 billion in damages over alleged “disparaging statements” that FTX officers made against Celsius that accelerated its fall. The second claim, which was a revised version of the first claim, sought damages of $444 million by focusing on “preferential transfers” that gave special treatment to some creditors and not others. However, Judge John T. Dorsey disallowed both claims in December, finding that Celsius’ original proofs of claim were insufficient to preserve their preference claims. The appeal now seeks to reverse Judge John T. Dorsey’s order.
#FTXbankruptcy
4️⃣ Floki DAO Approves ETP Funding In Unanimous Vote ‼️
According to a Cointelegraph report, the Floki DAO has unanimously voted to use a portion of the FLOKI tokens present in its community buyback wallet as liquidity for the upcoming Floki exchange-traded product (ETP) in Europe. The ETP will reportedly go live on the SIX Swiss Exchange in the first quarter of 2025. Notably, the SIX Swiss Exchange is the largest stock exchange in Switzerland and the third largest stock exchange in Europe. A spokesperson for Floki said the ETP listing would add legitimacy to the community-driven memecoin.
5️⃣ Uniswap Teases V4 Is ‘Coming Soon’ After Missing Its Q3 Target Last Year ❓
Decentralised exchange Uniswap reportedly posted an image teasing the imminent release of Uniswap v4. Specifically, the image made with unicode showed the year 2025 with the caption “v4 is coming soon.” However, it didn’t indicate when it will be launched this year. Notably, this “teaser” comes after the DEX missed its earlier target of Q3 2024 for the launch of v4.
Uniswap v4 is expected to introduce new key features such as Hooks, which will allow developers to execute custom code before and after swaps. This will enable additional functionality like limit orders, custom oracles, fee management and automated liquidity management. It will also include dynamic fees, gas savings, flash accounting, native ETH support and multiple pool types.
#Uniswap’s
6️⃣ Memecoin Launcher Pump.Fun's Deposits To Crypto Exchange Kraken Surpass $300 Million ☄️
According to onchain analytics firm Lookonchain, the memecoin launchpad Pump.fun moved 120,000 SOL (worth about $15 million) to crypto exchange Kraken on Jan. 1st. The latest deposit brings pump.fun’s total deposits to Kraken at 1,500,893 SOL (worth over $300 million). The post noted that pump.fun has sold 264,373 SOL for 41.64 million USDC. Lookonchain also reported that the memecoin launchpad has earned 2,016,391 SOL tokens to date, pushing its total revenue to nearly $398 million.
#Crypto2025Trands #CryptoAMA
1️⃣ Illegal Crypto Ads Prevail In UK Despite FCA Warning
According to a Financial Times report, illegal crypto ads continue to appear in the United Kingdom (U.K.) despite the fact that the U.K.’s Financial Conduct Authority (FCA) is asking crypto projects to remove their advertisements targeting the country. The report states that only 54% of the 1,702 alerts issued by the FCA between October 2023 and October 2024 ended in illegal crypto ads being taken down. The FCA has yet to penalise the remaining companies that failed to remove crypto ads violating its rules.
2️⃣ Elon Musk’s Bizarre Name Change On X Turns Trader’s $66 Into $3M Profit 🕯
According to blockchain analytics firm Lookonchain, one lucky memecoin trader managed to turn $66 into almost $3 million in just 18 days after they bought a meme based on Tesla founder Elon Musk’s brief name change on X to “Kekius Maximus” — a reference to a Pepe-Gladiator meme. Specifically, onchain data shows that the trader bought 10.17 million Kekius Maximus (KEKIUS) tokens on Dec. 14. They then sold 2.81 million KEKIUS tokens for 60.3 ETH on Jan. 1 while holding the rest, making an eye-popping 45,900-fold paper gain.
#ElonMuskTwitter
3️⃣ Celsius To Appeal Order That Disallowed Its $444M Claim Against FTX 🔍
Defunct crypto lending platform Celsius has reportedly filed a notice of appeal against a court order that disallowed its claims for damages from FTX as part of its ongoing bankruptcy case. For context, Celsius had filed two claims that sought to claw back hundreds of millions from FTX. The first claim sought $2 billion in damages over alleged “disparaging statements” that FTX officers made against Celsius that accelerated its fall. The second claim, which was a revised version of the first claim, sought damages of $444 million by focusing on “preferential transfers” that gave special treatment to some creditors and not others. However, Judge John T. Dorsey disallowed both claims in December, finding that Celsius’ original proofs of claim were insufficient to preserve their preference claims. The appeal now seeks to reverse Judge John T. Dorsey’s order.
#FTXbankruptcy
4️⃣ Floki DAO Approves ETP Funding In Unanimous Vote ‼️
According to a Cointelegraph report, the Floki DAO has unanimously voted to use a portion of the FLOKI tokens present in its community buyback wallet as liquidity for the upcoming Floki exchange-traded product (ETP) in Europe. The ETP will reportedly go live on the SIX Swiss Exchange in the first quarter of 2025. Notably, the SIX Swiss Exchange is the largest stock exchange in Switzerland and the third largest stock exchange in Europe. A spokesperson for Floki said the ETP listing would add legitimacy to the community-driven memecoin.
5️⃣ Uniswap Teases V4 Is ‘Coming Soon’ After Missing Its Q3 Target Last Year ❓
Decentralised exchange Uniswap reportedly posted an image teasing the imminent release of Uniswap v4. Specifically, the image made with unicode showed the year 2025 with the caption “v4 is coming soon.” However, it didn’t indicate when it will be launched this year. Notably, this “teaser” comes after the DEX missed its earlier target of Q3 2024 for the launch of v4.
Uniswap v4 is expected to introduce new key features such as Hooks, which will allow developers to execute custom code before and after swaps. This will enable additional functionality like limit orders, custom oracles, fee management and automated liquidity management. It will also include dynamic fees, gas savings, flash accounting, native ETH support and multiple pool types.
#Uniswap’s
6️⃣ Memecoin Launcher Pump.Fun's Deposits To Crypto Exchange Kraken Surpass $300 Million ☄️
According to onchain analytics firm Lookonchain, the memecoin launchpad Pump.fun moved 120,000 SOL (worth about $15 million) to crypto exchange Kraken on Jan. 1st. The latest deposit brings pump.fun’s total deposits to Kraken at 1,500,893 SOL (worth over $300 million). The post noted that pump.fun has sold 264,373 SOL for 41.64 million USDC. Lookonchain also reported that the memecoin launchpad has earned 2,016,391 SOL tokens to date, pushing its total revenue to nearly $398 million.
#Crypto2025Trands #CryptoAMA