Daniel Kuhn is a deputy managing editor for Consensus Magazine. He owns minor amounts of BTC and ETH.
to make the victim’s of Sam Bankman-Fried’s theft whole, according to the latest bankruptcy plan announced on Tuesday. Customers will receive $1.18 for every dollar’s worth of crypto assets they held on the exchange at the time of collapse in November 2022, plus interest.
This is an excerpt from The Node newsletter, a daily roundup of the most pivotal crypto news on CoinDesk and beyond. You can subscribe to get the full“Money Stuff” newsletter getting straight to the point: “FTX was … illiquid but solvent?” That is, in a way, a very simple and direct way of stating what SBF, who was recently sentenced to 25 years in prison for one of the largest financial heists ever, has been saying for years.To make it brief, in the days leading up to FTX’s bankruptcy on Nov.
It was actually this insistence that he could have rescued FTX had he not declared bankruptcy, and unwillingness to take responsibility for his crime, that led to his lengthy sentence. “In 30 years, I’ve never seen a performance like that,” Judge Lewis Kaplan said during the sentencing hearing, describing SBF’s evasiveness and remorselessness.they create. John J. Ray III, current FTX CEO overseeing the bankruptcy, says over the past 17 months the firm was able to recover between $14.
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