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The Ad Hoc Committee of Non-US Customers of FTX.com announces the successful execution of a Settlement and Plan Support Agreement (PSA) filed with the U.S. Bankruptcy Court in Delaware. This PSA, achieved after extensive negotiations with various parties, establishes a framework for a consensus-based reorganization plan. Positive results Earlier in March, the Ad
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Following the court’s decision, Genesis debtors have gained authorization to execute the settlement agreement, which entails the payment of $175 million to FTX. At the same time, the New York Bankruptcy Judge Sean Lane has also removed several claims made by FTX debtors against Genesis. Claim withdrawals As per the filed documents, the court
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A New York bankruptcy judge has approved a settlement between bankrupt cryptocurrency firms FTX and Genesis Global Trading (GGC), allowing FTX-affiliated Alameda Research to get $175 million from GGC.The United States Bankruptcy Court for the Southern District of New York gave the green light to the settlement agreement between FTX
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Caroline Ellison, former CEO of Alameda Research, testified that she committed fraud at the direction of her ex-boyfriend and former colleague, FTX exchange founder Sam Bankman-Fried. Ellison, 28, is the government’s highly anticipated star witness in the six-week trial of Bankman-Fried. She was the CEO of Alameda Research, the hedge
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The move signals a major stride on the part of JPMorgan as it intensifies its efforts towards boosting the commercial applications of blockchain technology. United States’ largest bank by assets, JPMorgan Chase & Co may have started using its blockchain-based collateral settlement for customers. This follows after a recent transaction between
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Synapse is able to simultaneously create settlement instructions for all parties along the settlement chain, facilitating concurrent processing, while also providing near-instantaneous status updates to all parties involved in the trade, a technical pamphlet explains, which is important when connecting traders in two different markets. Source
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NRL quarterback Trevor Lawrence and YouTube influencers Kevin Paffrath and Tom Nash have reportedly settled a lawsuit over alleged inadequate compensation disclosure in their promotions for the now-defunct FTX crypto exchange.According to a Sept. 16 Bloomberg report, the three high-profile individuals have entered proposed agreements, however the settlement terms were
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Crypto mining firm Core Scientific has announced an agreement with lending company Celsius Network to settle a legal battle which had been ongoing for months.In a Sept. 15 announcement, Core Scientific said it had agreed to sell a Bitcoin (BTC) mining data center to Celsius in exchange for $14 million
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This week, FTX initiated creditor settlement initiatives, as regulatory efforts commanded significant attention. Meanwhile, Stake fell victim to a multi-million-dollar exploit. FTX moving to settle creditor debt As part of a calculated aim to tackle its sizable debt exceeding $8 billion, FTX started streamlining its digital asset portfolio this week. Their approach entails
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Visa will now use payment processors to facilitate cross border transactions via the USDC stablecoin on Solana Pay. Solana’s SOL token rose on Tuesday following news that Visa will begin expanding its stablecoin services, via USDC, to the Solana blockchain, in collaboration with payment solutions providers Worldpay and Nuvei. The SOL token
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