Coverage of bankruptcies and restructurings reshaping the digital asset and financial sectors.
FTX’s fourth creditor distribution will inject roughly $2.2 billion into the market at a moment when Bitcoin is already trading under pressure from a deteriorating macro backdrop.
The court filing revealed that the bankrupt exchange was granted the right to pay its critical vendors up to $8.5 million upon its chief executive officer approval.
Crypto custodian, BitGo, has been selected by John Ray III, acting CEO at FTX to safeguard FTX's assets amid bankruptcy proceedings.
