The FTX Recovery Trust has announced its third distribution of $1.6 billion to former clients of the bankrupt crypto exchange, marking another critical step in repaying creditors following one of the largest financial frauds in American history. This payment, processed through major platforms including Bitgo, Kraken, and Payoneer, will see creditors receive between 78% and 120% of their claim values from November 2022, when FTX collapsed amid criminal mismanagement by founder Sam Bankman-Fried.
about FTX Repays $1.6B to Creditors in Third DistributionDamian Williams
0 posts last weekDo Kwon Pleads Not Guilty to Fraud Charges in US Court
Do Kwon, co-founder of Terraform Labs, has pleaded not guilty to nine fraud-related charges in a U.S. court, following his extradition from Montenegro. The charges stem from the $40 billion crash of Terra LUNA in 2022, which also contributed to the FTX collapse. Kwon, who has been on the run since the crash, faces serious allegations including money laundering and securities fraud.
about Do Kwon Pleads Not Guilty to Fraud Charges in US Court