Customers protest exchange bankruptcy plan: ‘We never gave FTX our coins!’

A committee representing the interests of FTX customers is pushing back against a proposed bankruptcy plan, claiming that it violates their property rights.

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Mainstream media challenge decision to protect FTX customers: Report

Legal representatives of the media outlets have reportedly argued that FTX is not entitled to a “novel and sweeping exception” just because its customers use cryptocurrency.

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FTX authorized to ‘permanently redact’ names of individual customers: Report

The names of FTX’s individual customers will not be revealed to the public to protect them from potential scams and identity theft.

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FTX Faces Class-Action Lawsuit from Customers Who Claim Right Over Exchange’s Assets

Coinspeaker FTX Faces Class-Action Lawsuit from Customers Who Claim Right Over Exchange’s Assets The plaintiffs have argued that the customers of FTX have the first right over the exchange's frozen funds, in an attempt to get their money back.

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FTX ex-CEO Sam Bankman-Fried likely to enter a plea on January 3, 2022

Sam Bankman-Fried is expected to enter a plea on January 3, 2022,  to criminal charges, including conspiracy to commit money laundering and conspiracy to commit fraud on customers and lenders. The post FTX ex-CEO Sam Bankman-Fried likely to enter a plea on January 3, 2022 appeared first on CryptoSlate.

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FTX customers file class-action lawsuit to get priority reparations

Customer class members don’t want to stand in line along the creditors of a failed crypto platform.

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Caroline Ellison admits to stealing billions of dollars from FTX customers

Caroline Ellison, the former CEO of Alameda Research, has admitted to deliberately deceiving lenders about loan amounts they took from FTX, along with co-founder Sam Bankman-Fried.

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Third parties could return FTX funds directly to customers: Law firm

According to Louise Abbott, FTX users could claim in court that assets “remained their property at all times” and could be treated separately from bankruptcy proceedings.

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Ripple CEO Brad Garlinghouse Criticizes ‘Double Standard’ in Wells Fargo Fine Case Compared to FTX Crash

Coinspeaker Ripple CEO Brad Garlinghouse Criticizes ‘Double Standard’ in Wells Fargo Fine Case Compared to FTX Crash The CEO of Ripple recently suggested that Wells Fargo did not receive the ‘FTX treatment’ despite exploiting its customers.

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Ripple CEO compares Wells Fargo billions mismanagement with FTX collapse

One of the biggest banks in America has once again paid a billion-dollar fine for the illegal treatment of its customers.

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Distressed Investors Drawn to FTX Claims Following Bankruptcy Filing

Claims of customers with assets stuck on FTX following its bankruptcy have started drawing the biggest names in distressed investing. The post Distressed Investors Drawn to FTX Claims Following Bankruptcy Filing appeared first on BeInCrypto.

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FTX creditors seek priority payout for $1.6B locked in custody wallets

A group of FTX customers seeking priority repayment of roughly $1. 6 billion locked in their custody wallet on the bankrupt FTX exchange, the Financial Times reported. The post FTX creditors seek priority payout for $1.

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Disgraced FTX Founder Agrees for US Extradition

Coinspeaker Disgraced FTX Founder Agrees for US Extradition SBF's lawyer said that his client wants to put the customers right, and that is what has driven his decision and agreement to US extradition.

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Sam Bankman-Fried agrees to US extradition 'to put the customers right': Report

The former FTX CEO attended an emergency hearing of the Bahamas Magistrate Court just hours earlier, returning to prison following the event.

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Why Binance US Will Acquire Voyager’s Assets And Take Over FTX

According to a press release, Binance US will buy Voyager’s assets as part of the bankruptcy proceedings. The company will seek legal approval for the purchase to “the value returned to customers and other creditors.

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Crypto Trading Firm Amber Group Raises $300M Series C After FTX Contagion

The collapse of FTX had impacted some of the trading firm's products and customers, increasing the need to quickly raise additional capital.

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Court filing reveals FTX co-CEO Ryan Salame blew the whistle

FTX co-CEO Ryan Salame tipped off Bahamian regulators on November 9 that the exchange was sending its customers’ funds to Alameda Research, according to a December 14 court filing. The post Court filing reveals FTX co-CEO Ryan Salame blew the whistle appeared first on CryptoSlate.

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FUD Intensifies: Can Binance Survive Or Is This The End?

Binance, the largest crypto exchange in the world by trading volume, has been the target of massive FUD (Fear, Uncertainty, and Doubt, for the uninitiated) over the last couple of days. After FTX collapsed, users in the space began to question if exchanges actually held enough in their reserves to honor all customers.

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FTX CEO Ray Says It’s Impossible To Recoup All Losses, US Clients Fare Better

Yesterday’s testimony hearing of new FTX CEO John Ray III to the U. S. House of Representatives Financial Services Committee brought to light some new findings that are not likely to please former customers of the exchange.

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$1.6B FTX International Customers Group Hires Law Firm to Create Official Bankruptcy Committee

There is “irreconcilable conflict" between the interests of FTX's international customers and those of other creditor groups, said Eversheds Sutherland Partner Sarah Paul.

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SEC charges SBF with defrauding investors

SEC states Sam Bankman-Fried “concealed his diversion of FTX customers’ funds to crypto trading firm Alameda Research while raising more than $1. 8 billion from investors The Securities and Exchange Commission on December 13, charge SBF with “orchestrating a scheme to defraud equity investors in FTX Trading Ltd (FTX)” Since May, 2019, FTX raised over $1.

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Amid Senate’s Inquisition, FTX’s Sam Bankman-Fried Wants To Float A New Business To Pay Back Customers

Running low on options, FTX’s founder wants to make one last-ditch attempt to repay customers, but experts term it a long shot. Sam Bankman-Fried revealed in an interview with the BBC over the weekend that he is willing to go the extra mile to repay customers after the implosion of his exchange. Bankman-Fried stated that […]

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Bahamian attorneys pursue access to FTX data of international customers

The Bahamian attorneys filed an emergency motion with a Delaware bankruptcy judge requesting access to FTX’s customer database to aid their ongoing investigations.

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FTX to File for Bankruptcy as Metacade (MCADE) is Set to Skyrocket in Presale

Crypto markets were shaken to the core by the recent news that the world’s second-largest crypto exchange FTX was to file for bankruptcy in US courts. An $8 billion black hole was discovered in FTX’s balance sheet after dozens of customers withdrew their funds, and a potential takeover from arch-rival Binance fell through, leaving founder […] The post FTX to File for Bankruptcy as Metacade (MCADE) is Set to Skyrocket in Presale appeared first on CoinJournal.

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Celsius Bankruptcy Ruling May Give Hope to FTX Victims

A U.S. judge has determined that certain customers of bankrupt crypto lender Celsius Network are entitled to receive their deposits back. The post Celsius Bankruptcy Ruling May Give Hope to FTX Victims appeared first on BeInCrypto.

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Genesis yet to enable customer withdrawals amid FTX contagion

Genesis, a US-based crypto lending platform, informed its customers that withdrawals might be halted for weeks while it develops a plan to avoid potential bankruptcy.

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Coinbase CEO Says FTX Clearly Stole User Funds, Rejects Claims of Accounting Error

Coinspeaker Coinbase CEO Says FTX Clearly Stole User Funds, Rejects Claims of Accounting Error Coinbase chief slammed crypto exchange FTX over their excuses for an accounting error. Brian Armstrong said that FTX clearly stole customers' money by moving funds to Alameda Research.

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SBF Says FTX Customers Deposited Around $5B Into Alameda-Controlled Account

Sam Bankman-Fried could not explain how customer funds went missing at Alameda. He also revealed the firm enjoyed privileges with FTX. The post SBF Says FTX Customers Deposited Around $5B Into Alameda-Controlled Account appeared first on BeInCrypto.

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FTX Japan to unfreeze withdrawals of client funds

Japanese users of failed crypto exchange FTX might soon be able to withdraw their funds as the Japanese subsidiary said it is working to make funds available to their customers. The post FTX Japan to unfreeze withdrawals of client funds appeared first on CryptoSlate.

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FTX Japan Looks to Unfreeze Client Funds and Allow Withdrawals

FTX Japan has announced plans to allow customers to withdraw funds from the exchange soon, meaning they will be among the first to get their money back. The post FTX Japan Looks to Unfreeze Client Funds and Allow Withdrawals appeared first on BeInCrypto.

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FTX Japan Plans to Restart Local Customer Withdrawals

FTX has approved its Japanese subsidiary's plan to restart withdrawals for customers.

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Former FTX CEO ‘apologetic’ over FTX collapse 

Up to now, it’s not yet clear whether the FTX customers or investors will get compensation for their investments. However, Sam Bankman-Fried hinted that the US and Japanese customers could be made whole though he didn’t elaborate on how it would happen.

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SBF Shifts Blame to Customers in Defense: ‘I Did Not Try to Commit Fraud’

Sam Bankman-Fried (SBF) appeared at the New York Times DealBook Summit, where he discussed the reasons for the demise of FTX. He claims that despite setbacks, he isn't focusing on potential criminal liability and is trying to help make stakeholders whole.

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Sam Bankman-Fried Addresses Withdrawals, FTX Collapse in Newly Released Audio Interview

The FTX founder said he unpaused Bahamian FTX withdrawals to “appease” local customers, and also added his lawyers to the groups of people he said can “go f-ck themselves.”

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FTX gets approval to pay critical vendors, can redact creditors’ and customers’ list

The Bankruptcy Court for the District of Delaware has granted FTX approval for all its first-day motions, including paying critical vendors up to $8.5 million, a November 23 court filing shows. The post FTX gets approval to pay critical vendors, can redact creditors’ and customers’ list appeared first on CryptoSlate.

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Arthur Hayes warns investors against crypto companies without proof of reserves

Arthur Hayes has cautioned customers against investing in custodians that won’t publish a Proof of Reserves (PoR) Audit. He made the comment on Twitter on November 20, 2022, in light of the FTX contagion that has wrecked several crypto companies.…

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$2.8B Crypto-Focused Lending Firm Genesis Halts Withdrawals Fearing A FTX-Induced Bank Run

Genesis Global Capital, the crypto lending unit for crypto investment bank Genesis Trading has decided to halt withdrawals in the wake of the FTX collapse. On Wednesday morning, Genesis held a 7-minute call with customers informing them that withdrawal requests for Genesis Capital had exceeded their liquidity capital.

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Nexo allays customers’ fears as FTX’s death spiral claims more victims

The crypto-lending platform has assured customers that their funds are safe after Genesis’ Crypto-Lending Unit Halted Customer Withdrawals in the wake of the FTX Collapse. The company made this announcement on Twitter on November 16, 2022. Nexo says funds are…

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Days After The Tumble — Here’s How Other Exchanges Reacted To FTX’s Collapse

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A-Z of inflows and outflows and what it means for crypto traders and investors 

The aftermath of FTX’s collapse has mostly been about customers getting tier funds stuck on the exchange as well as heightened fear, uncertainty, and doubt (FUD) in the broader crypto market.  HThe post A-Z of inflows and outflows and what it means for crypto traders and investors  appeared first on AMBCrypto.

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Lawyer: FTX founder’s actions had no good intent

Attorney Daeton took his remarks to twitter regarding the FTX saga, claiming SBF had no interest at heart for his customers. This comes after several other communities and individuals fairly criticized the actions.

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All Custodial Crypto Exchanges Should Adopt Proof-of-Reserve Programs, but Even That Isn’t Enough

After last week’s FTX debacle, customers who don’t wish to take custody into their own hands should demand far better from their service providers. Crypto Long & Short is CoinDesk's weekly newsletter featuring insights, news and analysis for the professional investor.

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Bahamas Securities Regulator Says It Didn't Order FTX to Reopen Local Withdrawals

Crypto exchange FTX was not required to allow Bahamas-based customers to withdraw their funds, a local financial regulator said Saturday.

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FTX's $380 million trail: An exploit to uncover or a final inside job

About $380 million flowed out of the FTX exchange due to a exploit or likely insider hack Exchange counsel said company is investigating proceedings FTX customers’ hope of getting theThe post FTX's $380 million trail: An exploit to uncover or a final inside job appeared first on AMBCrypto.

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Silvergate Capital says FTX reflects less than 10% of its total deposits from digital asset customers

Silvergate Capital issued a statement to inform the public of its exposure to FTX and its related entities. The post Silvergate Capital says FTX reflects less than 10% of its total deposits from digital asset customers appeared first on CryptoSlate.

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GameStop to End FTX.US Ties, Refund Customers

GameStop customers who have FTX gift cards will be given refunds.

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FTX Withdraws US CFTC Derivatives Clearing Plan: Bloomberg

Company previously submitted plan for approval that would allow customers to assess and respond to derivatives risks in real time.

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FTX customers attempt roundabout ways to withdraw their funds in Bahamas

From buying Bahamas-based NFTs to offering bounties to FTX employees, users with balances stuck in FTX are trying whatever they can to withdraw their money.

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A U.S. law firm investigating FTX, lawsuits expected

Leading United States-based law firm Berger Montague has launched investigations into potential claims on behalf of FTX customers.

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