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FintruX Network

FintruX Network

FTX
$0.0012
+9.11%
$0.0011 24H Price $0.0012

FTX Price Live Data

FintruX Network today's live price is $0.0012 USD with a 24-hour trading volume of $393 USD. FintruX Network has climbed by 9.12% in the last 24 hours. The current ranking is #6130, with a live market cap of $0 USD, and a circulating supply of 0 FTX coins.

Market Cap
+0%
$0
Volume (24h)
-1.97%
$393
Circulating Supply
0 FTX
Fully Diluted Market Cap
$ 122,428

FTX RELATED NEWS

FTX customer compensation plan voting will end on August 16

The Kroll website shows that the FTX claims plan voting deadline is 4:00 AM on August 17th Beijing time (8:00 PM ET on August 16th).Previously, the FTX unsecured creditors official committee posted on X platform, stating that the FTX debtor is soliciting opinions and seeking voting decisions from customers and creditors through Kroll. It is understood that if a user only claims for holding FTT, it is considered a rejection of the plan and has no right to vote, but can choose to participate in the plan's release.

FTX claims plan voting ends at 4:00 on August 17

The Kroll website shows that the FTX claims plan voting deadline is 4:00 AM on August 17th Beijing time (16:00 ET on August 16th). In mid-July, the FTX unsecured creditors' official committee posted on X platform that the FTX debtor was soliciting opinions and seeking voting from customers and creditors through Kroll. It is understood that if a user claims compensation only because they hold FTT, it will be regarded as a rejection of the plan and they will not have the right to vote, but they can choose to participate in the plan's release.

Former FTX exec Ryan Salame asks for jail time delay for dog bite

On July 27th, it was reported that Ryan Salame, former FTX executive, requested a New York court to delay his imprisonment in order to undergo emergency surgery. The reason for this was because Salame was bitten by a German Shepherd on June 29th while visiting a friend's house. He went to the hospital on July 3rd for treatment and examination due to facial injuries caused by the dog bite. Previously, it was reported that Ryan Salame was sentenced to 7 and a half years in prison in May of this year.

FTX reaches settlement with CFTC, the latter's $4 billion claim will be ranked after creditors and interest

On July 13th, it was reported that FTX creditor Sunil posted on X platform that a document on July 12th showed that FTX had reached a settlement with the US Commodity Futures Trading Commission (CFTC), and the $4 billion claim by the CFTC will be prioritized after all creditors and interest. The payment to the CFTC will go into a supplementary restitution fund to compensate cryptocurrency holders who have suffered significant losses.

Three separate groups, including FTX debtors, filed competing claims against SBF’s seized assets

On June 16th, after FTX's former CEO SBF was criminally convicted, his assets worth over $11 billion were confiscated (including cryptocurrency, private planes, and funds in bank accounts). Now, three independent groups - FTX debtors, creditor groups, and an offshore entity established by SBF - are making competing claims for these seized assets, claiming that they legally belong to them. The debtors claim in the documents that although SBF was ordered to confiscate the relevant assets, they did not belong to him from the beginning because they were obtained through his criminal behavior. According to the trial results, all specific assets are held by debtor entities or FTX Digital and/or funded entirely by debtor assets.Meanwhile, Emergent, an offshore company established by SBF, its liquidator, and representatives of FTX creditors' lawyers have also made claims for some of the relevant assets in a collective lawsuit filed in the Southern District of Florida. Emergent claims to retain ownership of hundreds of millions of dollars worth of Robinhood stocks, including the proceeds from stocks that have been seized and sold by the government.In addition, several claims have been made by lawyers hired by the largest FTX creditor group representative Sunil Kavuri. Documents submitted by Boies Schiller Flexner law firm and The Moskowitz law firm state: "The jury found that the confiscated $8 billion in FTX customer assets came from SBF's fraud against FTX customers, not FTX itself. Therefore, the confiscated assets, including Robinhood stocks, funds in bank accounts, and confiscated cryptocurrency, should be returned to customers, not debtors."

FTX bankruptcy report: An Australian influencer once lent it more than $13 million to avoid lawsuits

According to a bankruptcy report from FTX, FTX had borrowed more than $13 million from an Australian internet celebrity named Alex Saunders in order to help him pay off investor debts, prevent potential damage to his reputation, and avoid litigation. The bankruptcy report from FTX stated that Alex Saunders, an Australian internet celebrity, received a loan of $13.2 million (AUD 17.5 million) from the exchange in July 2021. This advance payment was to help Alex Saunders pay off his debts to creditors. This report contradicts Alex Saunders' previous statement that he raised a large amount of funds (about $11 million) from retail investors, friends, and family, which were transferred to his controlled cryptocurrency wallet. At the time, Alex Saunders informed his supporters that the money would be used to develop a cryptocurrency protocol. However, it is alleged that he broke his promise after transferring a large amount of funds to FTX. According to investigator Robert J. Cleary's report, Saunders squandered the creditors' funds while trading on FTX, leading to some investors filing lawsuits.

FTX/Alameda has deposited 21,650 ETH to Coinbase since February 1, 2024

According to Spot On Chain monitoring, Alameda wallet 0xf02 deposited 4,000 ETH ($14.75 million) into Coinbase 6 hours ago at an average price of $3,688. It is worth noting that this is the largest single ETH deposit by FTX and Alameda since the market rebounded in February. Since February 1, 2024, FTX/Alameda has deposited 21,650 ETH ($72.4 million) into Coinbase at an average price of $3,343.

U.S. Senators write to FTX bankruptcy judge, asking for investigation into FTX bankruptcy law firm’s sale of SOL at a low price

FTX creditor Sunil Kavuri posted on X platform stating that Senators John Hickenlooper, Cynthia Lummis, and Thom Tillis wrote to FTX bankruptcy judge Dorsey requesting an independent investigator to investigate the low-priced sale of SOL by Sullivan and Cromwell, the law firm handling the FTX bankruptcy case. Earlier, it was reported that Sullivan and Cromwell sold SOL, originally worth 1.7 billion US dollars, for 64 USDT.

The $1.9 billion of SOL previously sold by FTX will be locked for four years and cannot be sold

FTX sold up to 30 million SOL to venture capital companies such as Pantera Capital and Galaxy Trading at a price of $64 per coin, a significant decrease of 62% from the current market price. The SOL will be locked for four years and cannot be sold. The transaction is expected to bring FTX about $1.9 billion in revenue and is positioned as an important step in repaying creditors. However, those affected by the exchange's collapse have a negative view of the transaction. Sunil Kavuri, one of the affected individuals, stated that this sale has resulted in the loss of billions of dollars in value for FTX's creditors and accused the company's bankruptcy lawyer, Sullivan & Cromwell, of placing clients below creditors by disposing of what he believed to be "property" of the creditors.

Former FTX CEO Sam Bankman-Fried Sentenced to 25 Years in Prison for Fraud Charges

Sam Bankman-Fried has been sentenced to 25 years in federal prison for fraud charges related to the collapse of FTX exchange and Alameda Research trading firm. The sentence is less than the 105 years recommended by the Department of Probation, but higher than what Bankman-Fried and his lawyers were hoping for. Bankman-Fried plans to shift the media narrative surrounding his case in an attempt to rehabilitate his reputation, but Judge Lewis Kaplan emphasized the seriousness of his actions and the risk he poses to society. In the future, publicly-traded companies involved in derivatives markets will have to address any forfeiture or restitution issues, and sentencing hearings and memos for Bankman-Fried's former executives turned prosecution witnesses are expected to begin.

Current CEO of FTX: The exchange only had 105 BTC when he took over FTX

FTX's current CEO, John J. Ray III, refuted Sam Bankman-Fried's claim that customers lost "zero" funds in the exchange's collapse in 2022, stating that these claims are absolute, ruthless, and clearly incorrect. In a victim impact statement written by Ray on behalf of FTX and its subsidiaries, Ray told New York District Court Judge Lewis Kaplan that SBF's claim that its exchange had the ability to pay was a "delusional" statement that was an "inaccurate description" of the January statement by the estate committee. Ray stated that when he took over, the exchange had almost no funds, with only 105 bitcoins remaining, while customers were entitled to nearly 100,000 bitcoins.

FTX and Alameda wallets deposited 6,500 ETH worth $24.57 million to Coinbase in the past 15 days

According to Spot On Chain monitoring, FTX and Alameda Wallet deposited 6,500 ETH (worth $24.57 million) into Coinbase through 7 transactions at a price of $3,780 in the past 15 days. Additionally, during this period, they also transferred 8 other assets worth $6.26 million: ALI, GAL, TONCOIN, WAVES, OHM, HGET, TLM, and MTA.

Pantera raises funds to buy large SOL assets from FTX Estate

According to market news, cryptocurrency investment firm Pantera Capital raised funds to purchase a large amount of Solana holdings from FTX Estate.

Zhu Su: FTX sells linearly unlocked SOL at a discount, but traders pay high funds to go long

Zhu Su tweeted that FTX is selling linearly unlocked Solana tokens at a significant discount, while cryptocurrency traders are paying a lot of money to go long, presenting a polarized situation. He stated that if SBF were present, he would seriously address this issue.

FTX Claim Window Prices Bitcoin, Ethereum, and Other Products Below Market Prices

FTX has opened a claims window for mainstream cryptocurrencies such as Bitcoin (BTC), Ethereum, and Solana, with pricing significantly lower than their current market value. Many people have expressed concerns about the pricing differences on FTX on the X social platform, questioning the platform's fairness and transparency. PwC has published an official statement on its website, providing insights into the FTX situation. PwC disclosed that FTX Digital Markets Ltd. is reaching a settlement with FTX Trading Ltd. and its affiliated debtors under Chapter 11 of the US Bankruptcy Code, with the aim of merging the assets of the two entities. The official liquidator of FTX has notified creditors to submit electronic claims before May 15, 2024. The claims portal managed by PwC is expected to make its first mid-term distribution at the end of 2024 or early 2025, with all eligible claims priced in US dollars.

FTX has started official liquidation and will compensate customers for Bitcoin at a price of US$16,871

On March 3rd, it was announced that the joint official liquidators (JOL) of FTX Digital Markets Ltd (in official liquidation) (FTX Digital) have informed customers and non-customer creditors to submit claims in the FTX Digital liquidation through the FTX Digital claims portal. The joint official liquidators have activated the FTX Digital claims portal and eligible customers and non-customer creditors can submit claims in the FTX Digital liquidation, view their balances in their FTX accounts (as per the records of the joint official liquidators), and submit electronic claims in the Bahamian process. Only customers and non-customer creditors who submit electronic claims before the prescribed deadline of May 15, 2024 (the claims deadline) will be eligible for distribution in the Bahamian process (provided that the claim is recognized as eligible for distribution).

FTX reminds asset bidders: Galaxy Asset Management exclusively handles debtor digital asset sale

The bankrupt cryptocurrency exchange FTX reminded on X platform that, authorized by the court, the matter of selling digital assets by FTX debtors under the Bankruptcy Court Order No. 2505 will be exclusively handled by Galaxy Asset Management. However, some unauthorized third parties have been found to be attempting to solicit buyers on behalf of FTX debtors. Any sale offers or purchase solicitations shall only be made by Galaxy Asset Management to institutional buyers or other relevant parties in accordance with applicable laws.

FTX Faces Bankruptcy and Reputational Damage, Celebrities Reduce Involvement in Crypto Space

Celebrities who endorsed FTX, a company that has faced financial and legal issues, are now investing and promoting less in the crypto and Web3 space. According to Crunchbase data, Shaquille O'Neal, Stephen Curry, Naomi Osaka, and Tom Brady have diversified their investments into other industries. Tom Brady, for instance, has shifted his focus to sports investments, including purchasing stakes in the Las Vegas Aces and Raiders sports franchises. Some celebrities who promoted crypto products without disclosing payments have faced consequences, leading them to be more cautious about future investments.

FTX agrees to sell FTX Europe back to its founders for $32.7 million

Bankrupt cryptocurrency exchange FTX has reached a settlement in a lawsuit in which the company attempted to recover $323 million spent on acquiring a European startup. FTX stated that it paid an excessive fee for a startup that was "unable to launch and operate," and FTX Europe's founder will buy back his company for $32.7 million. It is reported that Digital Assets DA AG was acquired by FTX and renamed FTX Europe in 2021, and FTX stated in a lawsuit in July 2023 that the acquisition was a "huge overpayment" paid with FTX customer funds. According to documents submitted to the Delaware Wilmington Bankruptcy Court on Thursday, FTX stated that no other buyers would agree to purchase its European subsidiary FTX Europe, and the proposed settlement is the best result for FTX creditors. (Reuters) In July 2023, FTX Trading recently sued insiders of FTX's European division, claiming that former CEO SBF paid an obviously high acquisition price. Accounting firm BDO stated that FTX's $376 million acquisition of Swiss startup Digital Assets AG (DAAG) "reasonably represents fair value" and is not improper. DAAG was later renamed FTX Europe.

Xinhuo Technology: The recoverable ratio of FTX claim funds is expected to rise to approximately 70%

Hong Kong-listed company New Fire Technology announced that the market price for the recoverable amount of FTX deposits is based on the valuation of the exclusive agent's written offer received by the company in early October 2023, minus agency fees and other professional expenses, and the net amount that can be recovered is approximately 39.4% of the original amount. As the cryptocurrency market recovers, the company has received several competitive offers from potential transferees regarding the transfer of FTX claims. If the FTX claims can be transferred by the relevant transferees, the recoverable amount will increase from about 39.4% in September 2023 to about 70% in January 2024. It is reported that the frozen asset value of New Fire Technology on the FTX exchange is HKD 141.7 million.

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