🚨 FTX Finalizes Settlement Over $600M Robinhood Shares Claim! 💥

Big news from the bankrupt crypto exchange FTX! FTX has struck a $14 million deal with Emergent Technologies (founded by Sam Bankman-Fried) to settle their claim over 55 million Robinhood shares worth over $600 million. 📈

Here’s the scoop:
FTX plans to use the $14 million to cover Emergent's administrative expenses as they withdraw their petition for the Robinhood shares. 📝 This move not only helps FTX quickly resolve the Emergent bankruptcy case in Antigua, but it also ensures FTX recovers more money for its creditors while dodging further legal costs. ⚖️

Another big step in the FTX saga – could this help creditors get closer to recovering their funds? Stay tuned! 🔥

#Ftx #FTXScamAlert #CryptoNews #RobinhoodShares #Binance

📰According to Bloomberg 👇

"⛔Bankman-Fried was blocked from using virtual private networks while on bail".
With the judge overseeing his fraud case expressing concern that VPNs present similar risks as encrypted messaging apps.

#Binance #Ftx #chatgpt #BUSD #fud

Sam Bankman-Fried Negotiating Bail Conditions.
He is currently in talks with U.S. prosecutors to “resolve the outstanding issues related to Bankman-Fried’s bail conditions,” according to a court filing. #Ftx #crypto2023 #Trendings

US Judge approves removal of FTX Turkish units from bankruptcy case.

#News #Ftx #Binance #dyor

FTX-Affiliated Alameda Research Sues Grayscale Over Crypto Investments, Adding to Woes for Digital Currency Group – What's Going On?

#binancefeed #Ftx

📌 FTX has an $250M offer from Tribe Capital to restart exchange.

#crypto2023 #Binance #dyor #Ftx #Ftt

Things that existed last Thanksgiving: 😎

💀 FTX #Ftx
💀 BlockFi
💀 DCG's Genesis
💀 Terra #LUNA+4.07%
💀 Celsius Network
💀 Voyager Digital
💀 Three Arrows Capital
💀 Gemini Trust
💀 Hodlnaut

#Bitcoin #BTC    only

Hope you survived AND ready for the next bullrun

🚨🚨The FTX Debtors have announced another major milestone in their chapter 11 cases.
After extensive discussions with the Ad Hoc Committee of Non-US Customers, the Unsecured Creditors Committee and class action plaintiffs, the FTX Debtors have reached a proposed settlement of the customer property disputes.
If approved by the Bankruptcy Court, the settlement will create a special “Shortfall Claim” to benefit customers, as previously proposed by the FTX Debtors in July, and facilitate an offer to eligible customers to settle customer preference exposure at an agreed amount.All creditor representatives involved agreed to support a related amended Plan of Reorganization to be filed by 12/16/23🚨🚨⚠️⚠️
#Ftx #Ftt #DeFiTrends $SOL $ETH $BTC

✅US Prosecutors Want Sam Bankman-Fried Jailed Ahead of Trial

US federal prosecutors reportedly want former FTX CEO Sam Bankman-Fried jailed ahead of his October trial. Indeed, Reuters reported that prosecutors had asked the judge to sentence the former executive before the trial regarding the now-collapsed cryptocurrency exchange.

At a Manhattan Federal court hearing, prosecutor Danielle Sasson reportedly said, “No set of release conditions can ensure the safety of the community.” Subsequently, the request has arrived as Bankman-Fried is facing a plethora of charges connected to the fall of the exchange last year. The saga of cryptocurrency exchange FTX has certainly been one of the greatest controversies in the industry’s history.

#Ftx #sambankman

🗞️ Anthropic, one of the main rivals of OpenAI, is in talks with investors to raise at least $2 billion in new funding.

New investment in Anthropic could increase its valuation to $30 billion, allowing FTX to provide 100% asset recovery to bankruptcy victims.

#FutureofDeFi #AiTheFuture #Ftx

Will it bé enough to redeem thé fallen crypto éxchange? How Ftx plans to repay customers... hère are thé détails :

Repayment Plans

90% Recovered Assets: FTX's debtors proposed a plan to return 90% of recoverable assets to customers. This plan separates assets into pools based on FTX.com and FTX.US customers, with a simplified settlement for smaller claims under $250,000.

Full Repayment Goal: Despite the 90% figure, recent reports indicate FTX expects to fully repay all customers, potentially exceeding the initial plan. This optimism stems from their increased cash reserves (nearly $4.4 billion) through asset sales and ongoing bankruptcy proceedings.

Current Status:

Bankruptcy Process: The plan is still under review in the U.S. Bankruptcy Court and awaits formal filing. Once approved, the distribution process could begin later in 2024.

Cash Accumulation: FTX continues to liquidate assets to raise cash for customer repayments. Their cash reserves have significantly increased, boosting confidence in their ability to fulfill their obligations.

Founder's Trial: While the bankruptcy process progresses, Sam Bankman-Fried, the former CEO, faces criminal charges related to the FTX collapse. The outcome of his trial could have implications for the pace and extent of customer repayments.

Overall:

The situation remains fluid, but the news is mostly positive for FTX customers. The proposed plan, potential for full repayment, and increasing cash reserves suggest progress towards recovering lost funds. However, it's essential to remember that the bankruptcy process takes time, and uncertainties remain concerning the final timeline and exact amount of recovered assets.

#Ftx #JUP #Write2Earn #BTC #sol

if you find this informative...follow for more updates.

The trial of Sam Bankman-Fried is expected to begin on November 14th. Bankman-Fried is the former CEO of FTX, a cryptocurrency exchange that collapsed in April. His trial is likely to be closely watched by the crypto community, as it could have a significant impact on the regulation of the industry.

#Ftx

24 hrs trending

#ledger
#Ftx
#Ripple
#SBF
#chatgpt

🚨🚨 FROM BEING BILLIONAIRE TO PRISONER - SAD STORY OF CRYPTO KING 🚨🚨

Once known as Crypto king Sam bankman fried is Founder of Crashed exchange FTX. He is currently serving in jail and is Living life of a prisoner after being a billionaire before the crash of ftx. He is again making to Newses as his advoctae has complained that he is forced to eat only bread and water in Prision as Vegan food is not present there Also proper medication isn’t available for him his lawyer told before court. on whicb court assured to bring it to notice of us department of justice.

Just how time changes once a billionare and now surving on bread and water.

That’s why we should never indulge in wrong things.

#crypto2023 #Ftx

FTX has recovered $7.3 billion in assets and is considering resuming operations in Q2 2023, according to an announcement by their attorney. The news may have already been known by insiders, as SOL tokens saw a price increase two days ago.

#Ftx #FTT

Tom Brady Earned $55M, Steph Curry Earned $35M to Promote FTX Crypto Exchange

#Ftx

#DeFiCeFi #DeFiChallenge $BTC $ETH $BNB

FTX intends to pay customers in cryptocurrency based on the prices at the time of their bankruptcy:

- Bitcoin at $16,000
- Ethereum at $1,200
- Solana at $16

$BTC $ETH $SOL
#Ftx

Pantera Capital, a major player in crypto investments, eyes a strategic move amidst FTX's bankruptcy, aiming to acquire $250M worth of Solana (SOL) at a 39% discount. This proposed deal, highlighted in my latest article, showcases Pantera's interest in distressed assets during FTX's financial challenges. The news triggered a 4% surge in SOL's value. For Solana investors, this presents a compelling yet nuanced opportunity. Read more about this market development and its potential impact on the SOL ecosystem.👇👇👇
Pantera Capital Eyes Discounted Solana Amid FTX Bankruptcy $SOL #TrendingTopic #PanteraCapital #CryptocurrencyNews #Ftx

Breaking News: Sam bankman fried of FTX has been sentenced to 25 years in prison , Sadly 😥 for his involvement in the collapse of FTX exchange ......

This is a sad news but we keep going strong as a crypto community.

Never miss an update on this space follow for regular verified updates .
#Ftt #DOGE #Ftx #Bome #btc