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FTX creditors' representative Sunil revealed that many FTX claims users are currently from jurisdictions that are temporarily unable to participate in the distribution, including Russia, China, Egypt, Nigeria and Ukraine. FTX is reviewing relevant solutions. Among them, China has the largest number of users, accounting for 8% of the total number of customers.
FTX creditor representative Sunil revealed that users in five regions including Russia, China, Egypt, Nigeria and Ukraine are temporarily unable to participate in FTX bankruptcy estate distribution. Among them, China has the largest number of users, accounting for 8% of the total number of FTX users. FTX is reviewing relevant solutions.
On behalf of Sunil, FTX creditors issued a document on the X platform saying that FTX creditors' compensation of less than 50,000 US dollars has been paid at 10:00 Eastern Time, and some payments have been successfully completed. You can visit the account for inquiry.
On February 14, FTX creditors disclosed on behalf of Sunil that FTX has sent an email notification to customers who have not met the requirements for the first round of asset allocation. Customers who failed to participate in the first round of distribution on February 18, 2025 include: customer claims under review, customers with claims over $50,000, and customers who have not completed KYC, tax and distributor related requirements. These customers will be included in the subsequent distributio...
On February 8th, according to the news from FTX creditors on behalf of Sunil, FTX has sent an email to creditors less than $50,000 to notify them of the initial distribution of funds. These creditors need to register with a distribution service provider (such as Bitgo or Kraken) and authorize the service provider to receive and pay the distribution funds on their behalf. At present, FTX has transferred the first batch of funds to these distribution service providers. At the same time, some credi...
FTX creditors disclosed on behalf of Sunil on X that it has determined that FTX repayments will begin at 10:00 a.m. ET on February 18, 2025, and will be paid to creditors with claims of less than $50,000. The repayment distribution amount will include 100% of the awarded claim value (capped at $50,000), as well as an additional amount of compensation from the awarded claim value from the reference date of November 11, 2022 to 9.0% annual interest after the initial distribution date.
On January 10, according to the email information shared by FTX creditor Sunil, Kraken has started sending emails to customers who have selected it as the FTX creditor distribution platform to confirm that the account association and verification process has been successfully completed. BitGo may take similar actions. At present, the debt distribution schedule has not yet been determined, but for claims less than $50,000, they need to be processed within 60 days from January 3, 2025; claims over...
A court filing revealed that a team of FTX creditors successfully recovered about $14.50 million in November through a small claims settlement, mainly from previous political donations. The recovered funds include $6 million from the House Majority PAC and $3 million from the Senate Majority PAC. In addition, the Forward Action Fund, Mindthe Gap and American Road People also returned more than $1 million each. FTX executives launched donations to nearly a third of members of Congress, and SBF hi...
The "FTX bankruptcy plan" has been criticized by Sunil Kavuri, the representative of the largest FTX creditor group. Kavuri said that when FTX files for bankruptcy in 2022, the asset manager to be liquidated should be paid in physical cryptocurrency rather than in dollar value. Lawyer David Adler, who represents some of the creditors, also told the court that creditors would face huge taxes if they were paid in cash rather than in kind. Previously, it was reported that the United States...
In the "r/mtgoxinsolvency" sub-section of the Mt. Gox creditors section of the Reddit platform, multiple users reported problems logging into their accounts on the Mt. Gox website, some of whom shared screenshots saying that there were a large number of unauthorized login attempts on their accounts. Some users worried that this might be a "brute force" attack against Mt. Gox creditors, but others thought it might just be a website glitch. The Mt. Gox website has been put into maintenance mode af...
On July 5th, some Mt. Gox creditors confirmed that they had received BTC and BCH compensation. Among them, Japanese creditor @VoiceOnFate posted on X that they had received BTC and BCH compensation from Mt. Gox through the designated exchange platform, and the number of compensation tokens was 13% of the number of positions held in the account that year. It is uncertain whether this is the exact proportion. Due to the congestion of the Mt. Gox website, more detailed information cannot be viewed ...
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