Monday, May 19, 2025
No Result
View All Result
Coins League
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
Marketcap
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
No Result
View All Result
Coins League
No Result
View All Result

One Final Story About FTX for Old Times Sake

August 9, 2024
in Web3
Reading Time: 2 mins read
0 0
A A
0
Home Web3
Share on FacebookShare on TwitterShare on E Mail



TL;DR

On Wednesday this week, a decide formally ordered FTX and it’s sister firm, Alameda Analysis, to pay $12.7 Billion USD to collectors, ending a 20-month-long lawsuit with the Commodity Futures Buying and selling Fee (CFTC).

Full Story

For our ultimate ever Web3 Each day information article (we’ll say a correct goodbye on Sunday), it feels becoming to jot down about FTX.

(The corporate that each made us and broke us in some ways – as a result of individuals love studying about loopy information; however FTX additionally crippled the crypto business together with the promoting budgets for a lot of web3 firms).

On Wednesday this week, a decide formally ordered FTX and it’s sister firm, Alameda Analysis, to pay $12.7 Billion USD to collectors, ending a 20-month-long lawsuit with the Commodity Futures Buying and selling Fee (CFTC).

The order additionally bans FTX and Alameda from buying and selling digital property and performing as intermediaries available in the market.

(Nipping within the bud even the slightest probability of a comeback for the corporate).

How on this planet can a bankrupt firm pay $12.7B to collectors?

Effectively, when Sam Bankrun-Fraud was sentenced, he was pressured to forfeit $11B in property (and given 25 years in jail for seven counts of fraud, conspiracy, and cash laundering).

Plus, Alameda and FTX had vital crypto holdings in tokens aside from the FTT token (FTX’s native token which went to zero) like Solana, which, because the crash that they began, has principally gone up in worth.

For now, FTX and Alameda have filed for chapter, with the total restructure being administered by Kroll – who’ve the enjoyable job of determining what property are nonetheless owned, and which collectors ought to get how a lot, and in what order.

Alright! Now you realize.



Source link

Tags: FinalFTXSakeStoryTimes
Previous Post

USDe, the 12.3% Yielding Stablecoin, is Coming to Solana

Next Post

Ethereum (ETH) Developers Address Core Issues in Consensus Call #139

Related Posts

Elton John Slams UK AI Copyright Plan as ‘Criminal’ Theft of Creative Work
Web3

Elton John Slams UK AI Copyright Plan as ‘Criminal’ Theft of Creative Work

May 19, 2025
Guess Who: xAI Blames a ‘Rogue Employee’ for ‘White Genocide’ Grok Posts
Web3

Guess Who: xAI Blames a ‘Rogue Employee’ for ‘White Genocide’ Grok Posts

May 17, 2025
Judge Rejects SEC and Ripple’s Bid to Rework XRP Settlement
Web3

Judge Rejects SEC and Ripple’s Bid to Rework XRP Settlement

May 16, 2025
What’s Up Grok? AI Under Fire for Injecting ‘White Genocide’ Claims Into Unrelated Replies
Web3

What’s Up Grok? AI Under Fire for Injecting ‘White Genocide’ Claims Into Unrelated Replies

May 15, 2025
UNDER EXPOSED EP 25 – Decrypt
Web3

UNDER EXPOSED EP 25 – Decrypt

May 13, 2025
BitGo Gains EU-Wide Approval to Serve Institutions Under New Crypto Rules
Web3

BitGo Gains EU-Wide Approval to Serve Institutions Under New Crypto Rules

May 12, 2025
Next Post
Ethereum (ETH) Developers Address Core Issues in Consensus Call #139

Ethereum (ETH) Developers Address Core Issues in Consensus Call #139

Hamster Kombat Prepares for Largest Crypto Airdrop Ever

Hamster Kombat Prepares for Largest Crypto Airdrop Ever

Do Kwon’s Extradition Hits a Roadblock as Montenegro Court Hits Pause

Do Kwon’s Extradition Hits a Roadblock as Montenegro Court Hits Pause

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Twitter Instagram LinkedIn RSS Telegram
Coins League

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Coins League

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITEMAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In