FTX approved to liquidate $744M in Grayscale assets to pay creditors
The bankrupt exchange has spent almost a year unraveling the complex web of poorly documented trades and transactions that precipitated its collapse in November 2022.
Track crypto bankruptcies, restructurings, creditor updates, and court filings tied to failed exchanges, lenders, and digital asset firms.
Emails show claimants to begin receiving payments following postponed repayments plan due to legal issues and other reasons previously.
Celsius customers will own the new entity, which will be called Mining NewCo.
The company previously said it would shut down U.S. operations only.
The lawsuit claims Bybit and its affiliates used VIP connections to prioritize their withdrawals, and are holding FTX's $125 million hostage.
The settlement agreement will see Genesis pay $33 million to Three Arrows Capital.
A judge will allow Celsius to pay out CEL tokens and reopen as a mining business as it enters a recovery phase.