search
Homeweb3.0FTX Seeks Robinhood Shares to Repay Creditors
FTX Seeks Robinhood Shares to Repay CreditorsSep 11, 2024 am 09:27 AM
ftx Robinhood Shares Drama

FTX has agreed to retrieve more than $600 million of Robinhood shares. The deal requires that Emergent Fidelity Technologies receive $14 million for administrative expenses.

FTX Seeks Robinhood Shares to Repay Creditors

FTX has reached an agreement to retrieve more than $600 million in Robinhood shares, according to a filing on Monday. The deal will see Emergent Fidelity Technologies receive $14 million for administrative expenses, allowing FTX to proceed with its efforts to extract the most possible value for its creditors.

The agreement removes one big barrier for FTX in its efforts to retrieve funds on behalf of its creditors. It is a significant development for the defunct exchange in its efforts to extract the most possible value for its creditors. Thus, FTX can avoid being caught up in legal battles that may take time, resulting in less money being available for the affected customers. Emergent will dismiss its claim to 55 million Robinhood shares, thus allowing FTX to reorganize its bankruptcy.

Emergent bought the Robinhood shares in May 2022. After FTX’s failure in November 2022, FTX, Emergent, and BlockFi took ownership of the shares. The US Department of Justice confiscated the shares in January 2023 to probe FTX’s financial impropriety.

On September 1, 2023, the Robinhood shares were sold back to the company for approximately $606 million. Addressing the issues of share ownership in the context of FTX’s bankruptcy is crucial. FTX wants to return these shares to enhance the assets used to pay the creditors.

The settlement with Emergent helped the firm resolve its bankruptcy issues in Antigua. The company had encountered legal troubles concerning its Robinhood shares and its relationship with Sam Bankman-Fried of FTX.

The settlement continues FTX’s attempts to meet its financial responsibilities and repay its creditors. This is one of the many legal struggles that FTX has been engaged in since the company’s downfall.

FTX was once worth $32 billion and went bankrupt after a liquidity crunch exposed the mishandling of customers’ funds. After its collapse, FTX declared bankruptcy under Chapter 11, and its CEO, Sam Bankman-Fried, received a 25-year sentence for fraud and money laundering.

In August 2023, FTX was directed to provide $12.7 billion in compensation to its clients and the affected parties. This was the biggest recovery ever recorded by the Commodity Futures Trading Commission (CFTC).

The latest $14 million settlement helps FTX proceed with its attempts to meet its financial responsibilities and repay its creditors. It indicates that FTX is keen on ending the legal squabbles to conclude the bankruptcy process.

The settlement is of a sophisticated legal dispute and paves the way for the recovery of substantial amounts. If this is approved, then this will hasten the whole process and provide some form of comfort to the creditors who are still waiting to get paid.

This way, FTX secures more control of the Robinhood shares it has received as part of its reorganization process. Nevertheless, the $14 million payment is considered a tactical procedure to enhance the creditors' recovery. This is another move towards managing the financial impact of FTX’s bankruptcy.

The above is the detailed content of FTX Seeks Robinhood Shares to Repay Creditors. For more information, please follow other related articles on the PHP Chinese website!

Statement
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn
FTX and Alameda Research to Pay $12.7B to Defrauded Investors, Banned from Digital Asset MarketFTX and Alameda Research to Pay $12.7B to Defrauded Investors, Banned from Digital Asset MarketAug 08, 2024 pm 09:23 PM

A United States District Judge, Peter Castel, has approved a significant settlement agreement involving the now-defunct cryptocurrency exchange FTX, its affiliated trading firm Alameda Research, and the Commodity Futures Trading Commission (CFTC).

FTX债权人正式对破产重组方案提出异议FTX债权人正式对破产重组方案提出异议Jun 12, 2024 am 10:42 AM

由SunilKavuri领导的FTX债权人团体,对这家已破产交易所的破产管理人提交的重组方案,提出了正式异议。在6月5日提交给法庭的文件中,债权人团体认为所提出的重组方案没有达到他们团体的最佳利益标准。SunilKavuri在提出的异议中明确指出,FTX的破产重组方案存在法律上的不足,因为它包含了一些不符合债权人遗产利益的条款,并且没有妥善处理产权相关的问题。这些观点是他对方案提出质疑的主要依据。债权人团体的争议点债权人团体明确指出,FTX如果用现金来偿还债务,就会面临一个需要缴税的问题,而这种

Sam Bankman-Fried (SBF) to Be Released From Prison in Mid-September, Reports ClaimSam Bankman-Fried (SBF) to Be Released From Prison in Mid-September, Reports ClaimAug 24, 2024 pm 12:12 PM

Sam Bankman-Fried (SBF) was a popular crypto entrepreneur. He gained significant popularity because of his crypto empire built under the FTX crypto exchange and the crypto hedge firm Alameda Research.

什么是FTX Token币?FTX Token币有什么特点?什么是FTX Token币?FTX Token币有什么特点?Mar 05, 2024 pm 01:30 PM

FTXToken:推动FTX生态系统发展的实用型代币FTXToken(FTT)是FTX加密货币交易所发行的实用型代币,旨在为FTX生态系统提供动力并奖励用户。它具有以下特点:交易费用折扣:FTT持有者在FTX上进行交易时可享受交易费用折扣,折扣比例取决于持有的FTT数量。质押奖励:FTT持有者可以通过质押他们的代币来获得质押奖励,奖励以FTT的形式发放。治理权:FTT持有者可以参与FTX的治理,对平台的未来发展提出建议并投票。生态系统激励:FTT被用于奖励FTX生态系统中的参与者,例如流动性提供

FTX 宣布全额赔偿客户,但真正的赢家可能会让你惊讶FTX 宣布全额赔偿客户,但真正的赢家可能会让你惊讶May 09, 2024 pm 03:31 PM

在一个出人意料的转折中,破产的加密货币交易所FTX最近宣布了一项新的还款计划,旨在全额赔偿债权人和客户。该计划还包括一项可观的补偿提议,以考虑其投资的时间价值。虽然最初预计客户是主要受益者,但该还款计划的最大赢家不是客户本身,而是破产交易商。FTX提供的全额退款正如Bitcoinist报道的那样,FTX的重组计划已提交给美国特拉华州破产法院,概述了分配资金给受交易所欺诈计划影响的客户。该计划包括将公司从2022年11月倒闭至今的所有资产集中分配给其债权人和客户。FTX已经向外界公布了与主要经济利

FTX Prepares to Repay Distressed Investors, Expedites Solana (SOL) Sales to Cover the Needed FundsFTX Prepares to Repay Distressed Investors, Expedites Solana (SOL) Sales to Cover the Needed FundsSep 12, 2024 pm 06:44 PM

The relationship between Solana (SOL), a top-tier layer-one (L1) blockchain, and FTX and its sister firm, Alameda Research, continues to this day, nearly two years after its collapse.

如何查询FTX Token币最新价格?如何查询FTX Token币最新价格?Mar 06, 2024 pm 02:10 PM

如何查询FTXToken最新价格FTXToken(FTT)是FTX加密货币交易所的原生代币,自2019年推出以来一直发挥着重要作用。作为交易平台的核心组成部分,FTT不仅提供了一种有效的支付方式,还赋予用户一系列实惠,如交易费用折扣、质押奖励和参与治理的机会。通过持有和使用FTT,用户不仅能够享受更低的交易费用,还可以参与到平台生态系统的发展中来。此外,FTT持有者还有机会获得额外的奖励,增强他们的参与动力,并促进查询FTT最新价格的步骤:选择一个可靠的价格查询网站或应用程序。一些常用的价格查询

FTX Seeks Robinhood Shares to Repay CreditorsFTX Seeks Robinhood Shares to Repay CreditorsSep 11, 2024 am 09:27 AM

FTX has agreed to retrieve more than $600 million of Robinhood shares. The deal requires that Emergent Fidelity Technologies receive $14 million for administrative expenses.

Hot AI Tools

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Undress AI Tool

Undress AI Tool

Undress images for free

Clothoff.io

Clothoff.io

AI clothes remover

AI Hentai Generator

AI Hentai Generator

Generate AI Hentai for free.

Hot Article

Repo: How To Revive Teammates
1 months agoBy尊渡假赌尊渡假赌尊渡假赌
R.E.P.O. Energy Crystals Explained and What They Do (Yellow Crystal)
2 weeks agoBy尊渡假赌尊渡假赌尊渡假赌
Hello Kitty Island Adventure: How To Get Giant Seeds
1 months agoBy尊渡假赌尊渡假赌尊渡假赌

Hot Tools

Safe Exam Browser

Safe Exam Browser

Safe Exam Browser is a secure browser environment for taking online exams securely. This software turns any computer into a secure workstation. It controls access to any utility and prevents students from using unauthorized resources.

PhpStorm Mac version

PhpStorm Mac version

The latest (2018.2.1) professional PHP integrated development tool

MinGW - Minimalist GNU for Windows

MinGW - Minimalist GNU for Windows

This project is in the process of being migrated to osdn.net/projects/mingw, you can continue to follow us there. MinGW: A native Windows port of the GNU Compiler Collection (GCC), freely distributable import libraries and header files for building native Windows applications; includes extensions to the MSVC runtime to support C99 functionality. All MinGW software can run on 64-bit Windows platforms.

WebStorm Mac version

WebStorm Mac version

Useful JavaScript development tools

mPDF

mPDF

mPDF is a PHP library that can generate PDF files from UTF-8 encoded HTML. The original author, Ian Back, wrote mPDF to output PDF files "on the fly" from his website and handle different languages. It is slower than original scripts like HTML2FPDF and produces larger files when using Unicode fonts, but supports CSS styles etc. and has a lot of enhancements. Supports almost all languages, including RTL (Arabic and Hebrew) and CJK (Chinese, Japanese and Korean). Supports nested block-level elements (such as P, DIV),