At the end of this week, FTX unveiled its plan to start pushing the main creditors in 2025, with $ 11.4 billion assets. Meanwhile, former CEO of Arthur Hays House, along with his founders, received amnesty from President Trump after a lengthy legal battle on organizational violations.
The encryption news that flew under the radar.
FTX to start pushing the main creditors in May 2025
FTX, a TV currency stock exchange that was one day, led by Sam Bankman-Fred, has arrived at a decisive moment in the continuous bankruptcy epic. Nearly two and a half years after its dramatic collapse, FTX had Declare You will start pushing the main creditors on May 30, 2025.
The company has now accumulated 11.4 billion dollars in cash for distribution to creditors with demands exceeding 50,000 dollars. The smaller creditors, whose number is less than $ 50,000, has already started receiving payments, and most of them were compensated within two months of the start of the payment plan.
After the FTX collapsed, the sudden disclosure was followed by the fact that the Bankman-Fric misused customer money to support the hedge box, Alameeda Research. I applied for bankruptcy in November 2022. Despite these challenges, John J
Under his leadership, FTX real estate managed to restore important assets, including risks in technology companies and coercive currency hatred, the company’s original obligations of $ 11.2 billion. As a result, creditors are scheduled to receive batches of up to 118-119 % of their original claims.
However, the payment depends on the value of cryptocurrencies as of November 2022, which has left many frustrating creditors, as the value of bitcoin and other assets has increased since then.
Arthur Hayes and leaders pardoned Trump
In another important development, Arthur Hayes, former CEO of Bitmex, was Granted Pardon by US President Donald Trump, along with his founders, Samuel Red and Benjamin Dello, as well as the great employee Greg Dawayer and the operating entity of the stock exchange, HDR Global Trading.
This decision comes after a turbulent legal battle, which started in 2020 when the US Department of Justice (Doj) accused Bitmex and its leadership of violations of the BSA. The fees on the failure of the articles of association have focused on implementing the basic customer identification procedures, which allowed users to trade unknown without meeting the requirements for factors (KYC).
The individuals involved all of them admitted guilt and received a penalty under observation, while the stock exchange itself settled the charges by recognizing BSA’s violations last year.
In addition to the doj case, Bitmex also faced a major penalty from the CFTC Futures Trading Committee (CFTC), which has fined $ 100 million to violate the commodity exchange law in 2021.
This last amnesty follows Trump’s previous decision to grant the Creator of the Cellac Ross Olbrech Road. Meanwhile, the Bankman-PRID, the FTX disgraceful founder, made repeated efforts to secure the amnesty, even in an attempt to influence the Trump administration by participating in an unauthorized interview in prison.
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