The FTX estate plans to start distributions by March 2025

FTX plans to start distributing $16 billion to creditors by March 2025. Distributions will begin 60 days after the Chapter 11 plan becomes effective in Jan. Customers must complete KYC verification and submit tax forms to receive payments.

FTX co-founder Gary Wang avoids prison time in crypto fraud case

Gary Wang is now the fifth former executive of collapsed crypto exchange FTX to be sentenced for their role in the company’s implosion. Wang received a sentence of time served and three years of supervised release and will forfeit $11 billion.

Former FTX CTO Gary Wang Won’t Have To Serve Prison Time, Judge Rules

Former FTX chief technology officer and close friend of Sam Bankman-Fried, Gary Wang, won’t have to serve prison time for his involvement in the crypto exchange’s fraud scheme, The New York Times reported.

Former FTX CTO Gary Wang Won’t Have to Serve Prison Time, Judge Rules

Former FTX chief technology officer and close friend of Sam Bankman-Fried, Gary Wang, won’t have to serve prison time for his involvement in the crypto exchange’s fraud scheme, The New York Times reported.

DOJ targets $16 million in Binance account tied to Sam Bankman-Fried foreign bribery case

The US Department of Justice (DOJ) filed a civil forfeiture complaint to seize approximately $16 million in assets from a Binance account connected to an FTX bribery case, according to a Nov. 12 court filing.

US inflation rises coming in at expected 2.6%, Bitcoin breaks over $89,000 again

The US Bureau of Labor Statistics released October’s Consumer Price Index data today. The annual inflation rate increased to 2. 6% from the previous 2. 4%, aligning with forecasts. Month-over-month, the inflation rate remained steady at 0.

FTX Blames Binance And Founder Changpeng Zhao For Its Downfall, Demands $1.8 Billion In New Lawsuit

Exactly two years after filing for bankruptcy, the now-defunct crypto exchange FTX has filed a suit against Binance and its founder Changpeng Zhao.