FTX

Backpack Exchange, a fully regulated cryptocurrency exchange platform on a global scale, announced today the acquisition of FTX EU, the former European branch of FTX holding a MiFID II license. Approved by the FTX bankruptcy court and the Cyprus Securities and Exchange Commission (CySEC), this acquisition represents a major milestone in Backpack's international expansion and demonstrates its commitment to providing secure and regulated trading solutions across Europe.

Victims of the FTX bankruptcy are finally seeing the light at the end of the tunnel. The crypto exchange platform officially activated its reimbursement plan on January 3, 2024, paving the way for the return of funds to millions of affected users.

Ryan Salame, former co-CEO of the crypto exchange FTX, has had his prison sentence reduced, as has Caroline Ellison. Initially sentenced to 7.5 years in prison in May 2024, Salame was set to be released in April 2032. However, things have changed, and his new release date is now set.

The bankruptcy of FTX has been a real earthquake in the history of the cryptosphere. It has deeply shaken investor confidence and revealed significant structural flaws within the industry. Nearly two years after its collapse in November 2022, the bankrupt exchange is back in the spotlight with an ambitious reorganization plan, recently validated by the American judiciary. This plan includes an unprecedented repayment to creditors, which will begin on January 3, 2025, with a promise of restitution of up to 118% of the declared debts. To orchestrate this operation, FTX relies on well-known players in the sector. Kraken, experienced in such procedures after having played a key role in managing the Mt. Gox case, and BitGo, an expert in secure crypto custody, have been chosen to handle the repayments. Their involvement offers both security and transparency, two essential values to regain the trust of the creditors and ease the persistent tensions.

Recent revelations from the Wall Street Journal have shed light on troubling elements regarding the family of Sam Bankman-Fried, the former CEO of the crypto exchange FTX. Previously unreleased emails show that his parents, Alan Joseph Bankman and Barbara Helen Fried, as well as his brother Gabriel, played significant roles in the financial and political management of the company. These new pieces of information could further complicate the legal issues surrounding the spectacular collapse of FTX.

FTX: the financial miracle that promises to repay more than it owes!

The former crypto magnate Sam Bankman-Fried has been sentenced to several years in prison for one of the biggest financial scandals!

Bitcoin has just regained $50,000 for the first time since 2021 in a much more favorable context than before.