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🚨 Crypto Companies Paid $19,000,000,000 in 2024 SETTLEMENTS Alone!
U.S. regulators have raked in a staggering $19 billion from crypto companies in settlements this year — marking a massive leap compared to previous years. The total amount collected since 2019 now stands at $31.92 billion, with 2024 accounting for two-thirds of it!
Key Players:
- FTX & Alameda top the list, coughing up $12.7 billion to the CFTC in an August settlement.
- Terraform Labs ranks second with a $4.47 billion settlement over the TerraUSD (UST) collapse.
- Genesis follows, settling for $2 billion with the OAG.
This year has seen an 78% spike in settlements compared to 2023, signaling that regulatory pressure is far from easing.
Regulatory Crackdown Intensifies: Crypto regulation hit a boiling point in the last two years, with Celsius, Terraform Labs, and FTX’s implosion acting as catalysts for more aggressive scrutiny. Binance’s November 2023 settlement also stands out as the only billion-dollar deal made with a company still in operation, underscoring the high stakes of regulatory battles.
Crypto’s bull-to-bear market shift after major collapses in 2022 triggered this wave of scrutiny and lawsuits. The numbers show how far regulators have stepped up their efforts to police the industry. Is 2024 on track to be the most litigious year in crypto history? All signs point to yes!
What do you think about this situation?
👇 Drop a comment below and stay updated with @Professor Mende - Bonuz Ecosystem Founder !
#FTX #Terra #Genesis #Regulation #CFTC
$PEPE $SHIB $FLOKI
U.S. regulators have raked in a staggering $19 billion from crypto companies in settlements this year — marking a massive leap compared to previous years. The total amount collected since 2019 now stands at $31.92 billion, with 2024 accounting for two-thirds of it!
Key Players:
- FTX & Alameda top the list, coughing up $12.7 billion to the CFTC in an August settlement.
- Terraform Labs ranks second with a $4.47 billion settlement over the TerraUSD (UST) collapse.
- Genesis follows, settling for $2 billion with the OAG.
This year has seen an 78% spike in settlements compared to 2023, signaling that regulatory pressure is far from easing.
Regulatory Crackdown Intensifies: Crypto regulation hit a boiling point in the last two years, with Celsius, Terraform Labs, and FTX’s implosion acting as catalysts for more aggressive scrutiny. Binance’s November 2023 settlement also stands out as the only billion-dollar deal made with a company still in operation, underscoring the high stakes of regulatory battles.
Crypto’s bull-to-bear market shift after major collapses in 2022 triggered this wave of scrutiny and lawsuits. The numbers show how far regulators have stepped up their efforts to police the industry. Is 2024 on track to be the most litigious year in crypto history? All signs point to yes!
What do you think about this situation?
👇 Drop a comment below and stay updated with @Professor Mende - Bonuz Ecosystem Founder !
#FTX #Terra #Genesis #Regulation #CFTC
$PEPE $SHIB $FLOKI
🚨 Former FTX exec Nishad Singh seeks leniency, hoping to avoid prison. His lawyers argue his late involvement in the fraud and full cooperation with authorities should be considered. Singh's sentencing scheduled for Oct 30. #FTX #NishadSingh #CryptoCrime #Write2Earn!
"FTX Unstakes 178,000 Solana Tokens as Bankruptcy Reorganization Gains Approval"
FTX continues its regular monthly Solana redemptions following a U.S. court’s approval of its reorganization plan.
Read more on: https://thecryptobasic.com/2024/10/15/ftx-unstakes-over-178000-sol-tokens-amid-bankruptcy-reorganization-approval/
#FTX #Solana #Crypto #CryptoNewsDaddy #CryptoNews🚀🔥"
Read more on: https://thecryptobasic.com/2024/10/15/ftx-unstakes-over-178000-sol-tokens-amid-bankruptcy-reorganization-approval/
#FTX #Solana #Crypto #CryptoNewsDaddy #CryptoNews🚀🔥"
FTX’s bankruptcy estate has recovered nearly $4B in digital assets, benefiting from crypto price rebounds since Nov 2022.
Assets like $SOL , $TON , and $TRX have more than doubled.
Source: Kaiko Data
#FTX #FTXRecovery #ftxestate #TrendingTopic
Assets like $SOL , $TON , and $TRX have more than doubled.
Source: Kaiko Data
#FTX #FTXRecovery #ftxestate #TrendingTopic
🚨 Crypto Companies Paid $19,000,000,000 in 2024 SETTLEMENTS Alone!
U.S. regulators have raked in a staggering $19 billion from crypto companies in settlements this year — marking a massive leap compared to previous years. The total amount collected since 2019 now stands at $31.92 billion, with 2024 accounting for two-thirds of it!
Key Players:
- FTX & Alameda top the list, coughing up $12.7 billion to the CFTC in an August settlement.
- Terraform Labs ranks second with a $4.47 billion settlement over the TerraUSD (UST) collapse.
- Genesis follows, settling for $2 billion with the OAG.
This year has seen an 78% spike in settlements compared to 2023, signaling that regulatory pressure is far from easing.
Regulatory Crackdown Intensifies: Crypto regulation hit a boiling point in the last two years, with Celsius, Terraform Labs, and FTX’s implosion acting as catalysts for more aggressive scrutiny. Binance’s November 2023 settlement also stands out as the only billion-dollar deal made with a company still in operation, underscoring the high stakes of regulatory battles.
Crypto’s bull-to-bear market shift after major collapses in 2022 triggered this wave of scrutiny and lawsuits.
The numbers show how far regulators have stepped up their efforts to police the industry.
Is 2024 on track to be the most litigious year in crypto history? All signs point to yes!
What do you think about this situation? 👇 Drop a comment below and stay updated with @Professor Mende - Bonuz Ecosystem Founder !
#FTX #Terra #Genesis #Regulation #CFTC $PEPE $SHIB $FLOKI
U.S. regulators have raked in a staggering $19 billion from crypto companies in settlements this year — marking a massive leap compared to previous years. The total amount collected since 2019 now stands at $31.92 billion, with 2024 accounting for two-thirds of it!
Key Players:
- FTX & Alameda top the list, coughing up $12.7 billion to the CFTC in an August settlement.
- Terraform Labs ranks second with a $4.47 billion settlement over the TerraUSD (UST) collapse.
- Genesis follows, settling for $2 billion with the OAG.
This year has seen an 78% spike in settlements compared to 2023, signaling that regulatory pressure is far from easing.
Regulatory Crackdown Intensifies: Crypto regulation hit a boiling point in the last two years, with Celsius, Terraform Labs, and FTX’s implosion acting as catalysts for more aggressive scrutiny. Binance’s November 2023 settlement also stands out as the only billion-dollar deal made with a company still in operation, underscoring the high stakes of regulatory battles.
Crypto’s bull-to-bear market shift after major collapses in 2022 triggered this wave of scrutiny and lawsuits.
The numbers show how far regulators have stepped up their efforts to police the industry.
Is 2024 on track to be the most litigious year in crypto history? All signs point to yes!
What do you think about this situation? 👇 Drop a comment below and stay updated with @Professor Mende - Bonuz Ecosystem Founder !
#FTX #Terra #Genesis #Regulation #CFTC $PEPE $SHIB $FLOKI
Former CEO of bankrupt crypto exchange FTX, Ryan Salame, posts on LinkedIn ahead of 7.5-year prison sentence:
“I am happy to share that I have started working as an Inmate at FCI Cumberland prison!”
#FCI #FTX #RyanSalame #SamBankman-Fried #SambankmanFried
“I am happy to share that I have started working as an Inmate at FCI Cumberland prison!”
#FCI #FTX #RyanSalame #SamBankman-Fried #SambankmanFried
FTX Bankruptcy: Key Dates For $16 Billion Payout And Marketplace Impact
In a Monday ruling, a US bankruptcy court allowed cryptocurrency exchange FTX to liquidate and reimburse consumers with $16 billion in confiscated assets.
The crypto market is sensitive to this decision because creditors are poised to receive more than $12 billion through the court-sanctioned payout plan, which could be reinvested into the digital asset ecosystem and affect market prices.
Market Awaits FTX Liquidation
FTX reported $12.6 billion for customer repayments in June, which might rise to $16.5 billion when more assets are liquidated.
The small first distribution of $1.1 billion is anticipated to bolster Bitcoin (BTC) and other cryptocurrencies like Solana (SOL) and Ethereum (ETH), according to Galaxy Digital Holdings head of research Alex Thorn.
Magnet Capital co-chief investment officer Benjamin Celermajer said the reimbursements “effectively provide liquidity to known crypto traders”. He said that these money may return to the bitcoin market, boosting prices for “liquidity-starved assets.”
Note that FTX repayments will take time. Bloomberg says the exchange must create a trust and employ a distribution business.
Repayments to Take Years?
Galaxy Digital believes smaller creditors may be paid in December and bigger claims in the first part of next year. Some claims may take three years to settle.
Research company K33 estimates $2.4 billion in “latent demand from FTX reallocators”. They warn that the crypto market may be “soft” owing to the staggered repayments over the next year.
Caroline Ellison, the former CEO of FTX's trading arm, Alameda Research, has agreed to give up her assets to the exchange's creditors to resolve the bankruptcy estate's claim against her.
FTX said in a court statement on Monday that Ellison had settled and would surrender her assets not taken by the government or utilized for legal bills.
#U.S.UnemploymentNewLow #FTX #FTT $FTT #HBODocumentarySatoshiRevealed
In a Monday ruling, a US bankruptcy court allowed cryptocurrency exchange FTX to liquidate and reimburse consumers with $16 billion in confiscated assets.
The crypto market is sensitive to this decision because creditors are poised to receive more than $12 billion through the court-sanctioned payout plan, which could be reinvested into the digital asset ecosystem and affect market prices.
Market Awaits FTX Liquidation
FTX reported $12.6 billion for customer repayments in June, which might rise to $16.5 billion when more assets are liquidated.
The small first distribution of $1.1 billion is anticipated to bolster Bitcoin (BTC) and other cryptocurrencies like Solana (SOL) and Ethereum (ETH), according to Galaxy Digital Holdings head of research Alex Thorn.
Magnet Capital co-chief investment officer Benjamin Celermajer said the reimbursements “effectively provide liquidity to known crypto traders”. He said that these money may return to the bitcoin market, boosting prices for “liquidity-starved assets.”
Note that FTX repayments will take time. Bloomberg says the exchange must create a trust and employ a distribution business.
Repayments to Take Years?
Galaxy Digital believes smaller creditors may be paid in December and bigger claims in the first part of next year. Some claims may take three years to settle.
Research company K33 estimates $2.4 billion in “latent demand from FTX reallocators”. They warn that the crypto market may be “soft” owing to the staggered repayments over the next year.
Caroline Ellison, the former CEO of FTX's trading arm, Alameda Research, has agreed to give up her assets to the exchange's creditors to resolve the bankruptcy estate's claim against her.
FTX said in a court statement on Monday that Ellison had settled and would surrender her assets not taken by the government or utilized for legal bills.
#U.S.UnemploymentNewLow #FTX #FTT $FTT #HBODocumentarySatoshiRevealed
Ryan Salame Seeks Second Prison Delay Due to Medical Treatment
Former FTX executive Ryan Salame has requested another delay in his prison sentence due to ongoing medical treatment after a severe dog bite in June. Initially set to surrender on October 11, 2024, Salame is asking for an extension until December 7, following a previous postponement in August.
The U.S. government opposes this second delay as Salame faces a 7.5-year sentence for crimes tied to the collapse of FTX, including embezzlement and unlawful political contributions. Meanwhile, FTX’s bankruptcy proceedings continue, with plans to distribute $6.6 billion to creditors in the coming weeks.
#write2earn🌐💹 #Write2Earn! #FTX #FTXTrial $FTT #Write2earn
Former FTX executive Ryan Salame has requested another delay in his prison sentence due to ongoing medical treatment after a severe dog bite in June. Initially set to surrender on October 11, 2024, Salame is asking for an extension until December 7, following a previous postponement in August.
The U.S. government opposes this second delay as Salame faces a 7.5-year sentence for crimes tied to the collapse of FTX, including embezzlement and unlawful political contributions. Meanwhile, FTX’s bankruptcy proceedings continue, with plans to distribute $6.6 billion to creditors in the coming weeks.
#write2earn🌐💹 #Write2Earn! #FTX #FTXTrial $FTT #Write2earn
FTX Creditor Payouts Could Help Bitcoin
The current FTX bankruptcy events may improve Bitcoin (BTC) prices, according to K33 Research.
FTX Creditor Payouts Could Help Bitcoin
K33 analysts believe recent FTX estate creditor payback events might help the top digital asset retain its positive price trend in Q4 2024.
Bitcoin fell last week due to rising Middle East geopolitical tensions and improved US employment statistics. The flagship cryptocurrency fell from $65,920 on September 28 to $60,200 on October 3, recovering over the weekend.
Judge John Dorsey in the US Bankruptcy Court for the District of Delaware authorized the highly anticipated FTX restructuring plan on October 7, targeting creditor repayments almost two years after the Bahamas-based crypto exchange collapsed.
Nearly 94% of “dotcom customer entitlement claims” creditors supported the restructuring proposal. Only Sunil Kavuri, a spokesman of the main FTX creditor group, criticized the idea.
Kavuri demanded that the estate pay digital assets in kind rather than dollars when FTX declared bankruptcy in November 2022.
In their analysis, K33 analysts Vetle Lunde and David Zimmerman predict creditor payments to begin in late Q4 2024 and continue until early Q1 2025. After the court's effective date, disbursements will occur within 60 days. Unknown date, but likely mid-November. Report notes:
Debtors have 60 days to reimburse consumers with claims under $50,000, totaling $1.2 billion. Larger creditors (entitlement class) should collect $9 billion in February 2025.
Bulls Watch Coming Crypto Funds
Bitcoin bulls may concentrate on payout funds that might re-enter the crypto market. A large portion of digital assets have been converted to fiat, lowering estate plan sell-side pressure.
According to experts, 25% of the $14.4 billion to $16.3 billion in claims, or $3.9 billion, has been acquired by credit funds and is unlikely to re-enter the market.
#FTX #FTT #HBODocumentarySatoshiRevealed $BTC $FTT
The current FTX bankruptcy events may improve Bitcoin (BTC) prices, according to K33 Research.
FTX Creditor Payouts Could Help Bitcoin
K33 analysts believe recent FTX estate creditor payback events might help the top digital asset retain its positive price trend in Q4 2024.
Bitcoin fell last week due to rising Middle East geopolitical tensions and improved US employment statistics. The flagship cryptocurrency fell from $65,920 on September 28 to $60,200 on October 3, recovering over the weekend.
Judge John Dorsey in the US Bankruptcy Court for the District of Delaware authorized the highly anticipated FTX restructuring plan on October 7, targeting creditor repayments almost two years after the Bahamas-based crypto exchange collapsed.
Nearly 94% of “dotcom customer entitlement claims” creditors supported the restructuring proposal. Only Sunil Kavuri, a spokesman of the main FTX creditor group, criticized the idea.
Kavuri demanded that the estate pay digital assets in kind rather than dollars when FTX declared bankruptcy in November 2022.
In their analysis, K33 analysts Vetle Lunde and David Zimmerman predict creditor payments to begin in late Q4 2024 and continue until early Q1 2025. After the court's effective date, disbursements will occur within 60 days. Unknown date, but likely mid-November. Report notes:
Debtors have 60 days to reimburse consumers with claims under $50,000, totaling $1.2 billion. Larger creditors (entitlement class) should collect $9 billion in February 2025.
Bulls Watch Coming Crypto Funds
Bitcoin bulls may concentrate on payout funds that might re-enter the crypto market. A large portion of digital assets have been converted to fiat, lowering estate plan sell-side pressure.
According to experts, 25% of the $14.4 billion to $16.3 billion in claims, or $3.9 billion, has been acquired by credit funds and is unlikely to re-enter the market.
#FTX #FTT #HBODocumentarySatoshiRevealed $BTC $FTT
