The FTX estate has identified 49 countries, including China—which represents 82% of withheld repayment funds—as ‘restricted foreign jurisdictions.’ The bankrupt crypto exchange is requesting additional time from a Delaware court to respond to more than 90 objections against its plan to halt repayments in these regions. A ‘Motion for Leave’ was filed to extend the deadline for presenting its case, with a hearing scheduled to address the dispute. The FTX Recovery Trust cited the high volume of objections as the reason for the delay, needing more time to draft and finalize its reply.
about FTX Seeks Delay in Repayment Dispute Over 49 CountriesFTX Estate
0 in Finance and 0 in Crypto last weekFTX Sues NFT Stars and Delysium Over Token Disputes
The FTX Estate has sued NFT Stars and Delysium (operating as Kurosemi) in Delaware bankruptcy court, accusing them of failing to deliver tokens promised under SAFT agreements with Alameda Ventures. FTX seeks over 83 million SIDUS, 831,000 SENATE, and 75 million AGI tokens, along with damages and sanctions. The lawsuits allege contract breaches and violations of bankruptcy protections, with FTX claiming repeated attempts to resolve the disputes were ignored. This legal action is part of FTX’s broader asset recovery strategy following its 2022 collapse, which involved misuse of customer funds and led to founder Sam Bankman-Fried’s conviction. The complaints detail specific investment amounts and token vesting disputes, including Delysium’s alleged unilateral extension of vesting schedules.
about FTX Sues NFT Stars and Delysium Over Token DisputesAvalon Labs & LayerZero Boost Cross-Chain Stablecoin Moves
Avalon Labs has selected LayerZero as its official interoperability protocol, enabling its Bitcoin-based stablecoin (USDa) and other tokens (sUSDa, AVL) to move effortlessly across 14 blockchains. LayerZero’s omnichain technology, trusted by investors like a16z ($55M commitment) and partners like Libre (RWA token expansion) and Wyoming (state-backed stablecoin), underscores its growing influence. Despite a recent 5.46% dip in ZRO token value, LayerZero’s settlements with FTX Estate and its expanding ecosystem highlight its pivotal role in cross-chain DeFi solutions.
about Avalon Labs & LayerZero Boost Cross-Chain Stablecoin MovesSEC Declares Meme Coins Not Securities Amid Shifting Crypto Regulations
The SEC has declared that most meme coins do not qualify as securities under federal law, clarifying their regulatory stance and applying the Howey Test. This shift allows creators to avoid SEC registration, although fraudulent activities may still face legal consequences. Meanwhile, the DTX Exchange is gaining traction with a presale surge, while Solana faces challenges due to a significant token unlock.
about SEC Declares Meme Coins Not Securities Amid Shifting Crypto RegulationsSolana Faces Market Volatility Amid Declining Wallets and Upcoming Unlocks
Solana ($SOL) is facing significant market challenges, with a 2.24% decline in wallets holding over 100 $SOL, dropping from 154,653 to 151,184. The upcoming release of 9.75 million SOL from the FTX estate on March 1, 2025, is expected to increase selling pressure, contributing to ongoing volatility and uncertainty in the market. Despite a recent price surge above $250, SOL is now consolidating under $200, raising concerns about potential downward pressure and a sell-off if it fails to regain momentum.
about Solana Faces Market Volatility Amid Declining Wallets and Upcoming UnlocksLayerZero Resolves Legal Dispute with FTX Estate Over Alameda Transaction
LayerZero has reached a settlement in its legal dispute with the FTX estate concerning a prior transaction involving Alameda. This resolution marks a significant step in addressing the complexities surrounding the fallout from the FTX collapse.
about LayerZero Resolves Legal Dispute with FTX Estate Over Alameda TransactionBackpack Clarifies FTX EU Acquisition Amid Ongoing Disputes
Backpack has clarified its acquisition of FTX EU amidst ongoing disputes involving the FTX estate. The clarification comes as stakeholders seek resolution in the complex legal landscape surrounding the collapsed cryptocurrency exchange.
about Backpack Clarifies FTX EU Acquisition Amid Ongoing Disputes