Court-appointed bankruptcy trustee Ernst & Young announced its decision after consultation with estate inspectors, with details of the interim distribution to be released at a later date.
The move comes only a month after the company announced it was winding down its U.S. operations, a few weeks after the SEC accused it of operating an unregistered securities exchange.
Under the plan, which was proposed in September 2022, CoinFLEX creditors will own 65% of the company, while Series A investors would lose their equity stakes. Series B shareholders will retain their status.
FTX Japan asked users to create an account with Liquid Japan, the local exchange SBF bought, before requesting to withdraw, a process it warns might take time.
Compute North has reportedly eliminated $250 million from its $400 million loan burden with the likes of Marathon Digital, Generate Capital, Foundry, and U.S. Bitcoin Corp.
Mt. Gox Investment Fund and Bitcoinica have reportedly chosen to receive their payout in BTC as creditors weigh whether a bird in hand is worth two in the bush.
Core Scientific will use the funds to replace an existing credit facility from the same bank and to keep running for 15 months as it undergoes bankruptcy proceedings.
The U.S. bankruptcy court in Delaware held a hearing into the bankruptcy of FTX, Alameda Research and the countless other appendages of the once mighty crypto empire of Sam Bankman-Fried.
Sign traders' expectations proved true as Genesis Global Capital LLC's parent company officially filed for Chapter 11 bankruptcy following a tumultuous year for the 'crypto' house of cards.
New filings in the FTX bankruptcy case have revealed the full list of investors, and among Tom Brady and Gisele Bundchen sits Coinbase, which holds the bag on millions of FTX shares.
Core Scientific has been in dispute with the bankrupt Celsius Network over the mining rigs, with the lender owing $7.8 million to the bankrupt BTC miner since November.
Pre-bankruptcy, Celsius held $4.2 billion for 600,000 users in Earn accounts, digital assets which the judge ruled it legally owns and can sell to fund operations.
