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The company filed a motion with the District of Delaware Bankruptcy Court on Aug. 24 seeking authorization and approval of guidelines for the sale of digital assets recovered during ongoing bankruptcy proceedings.The filing outlines FTX’s requests and plans to transfer some $7 billion worth of recovered cryptocurrency tokens under the management of
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Curve Finance (CRV), a leading decentralized finance (DeFi) protocol, announced significant progress in its recovery efforts following a recent hack that resulted
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FTX has recovered about $7 billion in liquid assets so far, and the search for additional assets is continuing, CEO John Ray said in the FTX Debtors’ second interim report, released June 26. The extensive commingling of funds complicates their efforts, however.The FTX Debtors, made up of FTX and affiliates,
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FTX has successfully recovered $7.3 billion in assets and is considering relaunching the exchange in the second quarter of 2023 as per recent reports. During a hearing that took place on April 12 in the United States bankruptcy court for the district of Delaware, attorneys from Sullivan & Cromwell representing FTX
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Cryptocurrency exchange FTX may be considering restarting in the future, according to the legal team behind the debtors.In an April 12 hearing in United States Bankruptcy Court for the District of Delaware, lawyers with Sullivan & Cromwell representing FTX said the crypto firm had recovered roughly $7.3 billion in assets.
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Users are able to redeem their share of recovered funds, which stand at 95,556 ether (ETH) and $43 million of the DAI stablecoin, collectively worth about $223 million based on current prices. The price of EUL, the native governance token of the Euler Protocol, has increased 2.5% in the past
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Created five days ago, the proposal aims to let Euler users redeem their capital as soon as possible. Submitted by co-founder Doug Hoyte, this has been “chosen as the optimum approach” by the Euler Foundation, Euler Labs and external advisers, according to the proposal. Original Source
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According to several reports, a bug introduced to the decentralized exchange (dex) protocol Sushiswap’s smart contract has resulted in more than $3 million in losses. The blockchain and smart contract security firm Peckshield explained the exploited contract was “deployed in multiple blockchains.” Dex Platform Sushiswap Suffers From Smart Contract Exploit Over the
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According to FTX attorney Andy Dietderich, the troubled cryptocurrency exchange has "recovered $5 billion in cash and liquid cryptocurrencies." However, the exchange is still "working to rebuild transaction history," and the total amount of customer shortfall is "still unclear." Speaking to a U.S. bankruptcy judge in Delaware on Wednesday, Dietderich
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Crypto exchange FTX has recovered more than $5 billion in different assets, not including another $425 million in crypto held by the Securities Commission of the Bahamas, a bankruptcy attorney said during a hearing Wednesday. Source
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