* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Monday, August 4, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Hank Hill returns to a changed world in new ‘King of the Hill’ episodes – New Haven Register

    Hank Hill Navigates a Bold New World in Thrilling New ‘King of the Hill’ Episodes

    Exclusive | Fox Takes Stake in IndyCar Owner Penske Entertainment – The Wall Street Journal

    Exclusive | Fox Takes Stake in IndyCar Owner Penske Entertainment – The Wall Street Journal

    Go-to entertainment: why gaming was made for the toilet – The Guardian

    Why Gaming Is the Ultimate Way to Pass Time in the Bathroom

    Chicago Youth Symphony Orchestra takes the Lollapalooza stage – Yahoo Home

    Chicago Youth Symphony Orchestra takes the Lollapalooza stage – Yahoo Home

    Sens. Blackburn, Warnock introduce CREATE Act to provide tax relief to music creators – Yahoo Home

    Sens. Blackburn and Warnock Launch CREATE Act to Deliver Tax Relief for Music Creators

    That’s (Political) Entertainment: When Theatre Meets Politics

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    How Tech Firms Like Google and Meta Are Embracing the Military – The New York Times

    How Tech Firms Like Google and Meta Are Embracing the Military – The New York Times

    Credo Technology: Wiring The AI Revolution (NASDAQ:CRDO) – Seeking Alpha

    Credo Technology: Driving the Next Wave of AI Innovation

    Microsoft Seeks to Extend Access to OpenAI Technology – PYMNTS.com

    Microsoft Aims to Broaden Access to OpenAI Technology

    Livonia police use grappler technology to stop drunk driver – ClickOnDetroit | WDIV Local 4

    Livonia Police Deploy Grappler Technology to Safely Stop Drunk Driver

    Emory orthopaedic surgeons use robotic technology to transform knee replacement surgery – Emory News Center

    How Robotic Technology is Revolutionizing Knee Replacement Surgery

    Cognizant Technology Solutions Corp (CTSH) Q2 2025 Earnings Call Highlights: Strong Revenue … – Yahoo.co

    Cognizant Q2 2025 Earnings: Impressive Revenue Growth and Key Takeaways

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Hank Hill returns to a changed world in new ‘King of the Hill’ episodes – New Haven Register

    Hank Hill Navigates a Bold New World in Thrilling New ‘King of the Hill’ Episodes

    Exclusive | Fox Takes Stake in IndyCar Owner Penske Entertainment – The Wall Street Journal

    Exclusive | Fox Takes Stake in IndyCar Owner Penske Entertainment – The Wall Street Journal

    Go-to entertainment: why gaming was made for the toilet – The Guardian

    Why Gaming Is the Ultimate Way to Pass Time in the Bathroom

    Chicago Youth Symphony Orchestra takes the Lollapalooza stage – Yahoo Home

    Chicago Youth Symphony Orchestra takes the Lollapalooza stage – Yahoo Home

    Sens. Blackburn, Warnock introduce CREATE Act to provide tax relief to music creators – Yahoo Home

    Sens. Blackburn and Warnock Launch CREATE Act to Deliver Tax Relief for Music Creators

    That’s (Political) Entertainment: When Theatre Meets Politics

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    How Tech Firms Like Google and Meta Are Embracing the Military – The New York Times

    How Tech Firms Like Google and Meta Are Embracing the Military – The New York Times

    Credo Technology: Wiring The AI Revolution (NASDAQ:CRDO) – Seeking Alpha

    Credo Technology: Driving the Next Wave of AI Innovation

    Microsoft Seeks to Extend Access to OpenAI Technology – PYMNTS.com

    Microsoft Aims to Broaden Access to OpenAI Technology

    Livonia police use grappler technology to stop drunk driver – ClickOnDetroit | WDIV Local 4

    Livonia Police Deploy Grappler Technology to Safely Stop Drunk Driver

    Emory orthopaedic surgeons use robotic technology to transform knee replacement surgery – Emory News Center

    How Robotic Technology is Revolutionizing Knee Replacement Surgery

    Cognizant Technology Solutions Corp (CTSH) Q2 2025 Earnings Call Highlights: Strong Revenue … – Yahoo.co

    Cognizant Q2 2025 Earnings: Impressive Revenue Growth and Key Takeaways

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

No Restart for FTX But All Customers to Get Money Back

February 1, 2024
in Business
No Restart for FTX But All Customers to Get Money Back
Share on FacebookShare on Twitter

FTX is a cryptocurrency exchange founded by Sam Bankman-Fried. Image: Shutterstock

Initial plans for an FTX comeback following a tentative approval from the SEC have been scrapped.
A lack of investor funding and interest was the main reason for the abandonment.
The defunct exchange’s focus will now shift to customer repayment, who are collectively owed over AUD $10 billion.
Customers will be paid based on Bitcoin’s 2022 value, rather than its current (and much higher) price point.

After Gary Gensler greenlit a potential shock FTX comeback last year, it appears any plans for a revival have gone down the drain. The most infamous crypto platform of all time, FTX’s collapse in 2022 wiped billions of dollars from the industry and was the catalyst in an icy crypto winter that is only now starting to thaw. With SBF safely behind bars, the new FTX board had considered an astonishing return to trading as soon as 2024 – but that dream has been officially abandoned, according to the company’s lawyers.

No Investors Willing to Fund FTX 2.0

The key to an FTX resuscitation was – like with most things – all down to money. The company needed a significant investment to handle the USD $9 billion (AUD $13.7 billion) customer repayments required while raising capital to get the technology back off the ground. However, even with several interested parties, no investors were willing to give up enough money to satisfy the exchange’s fairly stringent needs. So, as a company attorney said yesterday in an FTX press release, they are instead choosing to focus on paying out their customers in full. So far, the company has recovered about 80% of the assets required to compensate those who lost money in the calamitous 2022 failure.

In an interesting twist, some customers are complaining that the bankruptcy proceedings are short-changing them significantly. Why?

Well, a quirk in the U.S. bankruptcy laws requires that accreditors must be paid out equivalent to the asset’s value at the time of bankruptcy. In the case of FTX, this means holders are being returned approximately USD $16K (AUD $24.36) per BTC, rather than the $40K+ (AUD $60K+) price point it currently sits at.

FTX was also quick to inform customers that they may be waiting a while before seeing their repayments, as they rifle through claims from clients that might be illegitimate. If Mt. Gox’s bankruptcy repayments are anything to go by, it can take up to a decade before the victims even see a cent. 

Ben Knight

Author

Ben Knight

Ben Knight is a writer and editor from Melbourne with a passion for all things music and finance. He enjoys turning complex topics – especially the technical details of cryptocurrency – into digestible bites that anybody can understand. He acquired his Master’s in Writing, Editing and Publishing from RMIT in 2019 and has run his own creative writing business ever since.

You may also like

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : CryptoNews.com.au – https://cryptonews.com.au/news/no-restart-for-ftx-but-all-customers-to-get-money-back-117176/

Tags: businesscustomersrestart
Previous Post

Visa Snubs Centralised Exchanges, Enabling Direct Crypto Withdrawals

Next Post

Top 3 Reasons Ethereum Is Poised for a Major Surge Soon

Archived natural DNA samplers reveal four decades of biodiversity change across the tree of life – Nature

Four Decades of Biodiversity Uncovered Through Archived Natural DNA Samplers

August 4, 2025
Scientists say they have solved the mystery of what killed more than 5 billion sea stars – Yahoo Home

Scientists say they have solved the mystery of what killed more than 5 billion sea stars – Yahoo Home

August 4, 2025
Science and the courts need to better distinguish between correlations and causation – Genetic Literacy Project

Science and the courts need to better distinguish between correlations and causation – Genetic Literacy Project

August 4, 2025
Adidas Relies on ‘Brand Heat’ in Lifestyle Footwear for Future Growth – WWD

Adidas Relies on ‘Brand Heat’ in Lifestyle Footwear for Future Growth – WWD

August 4, 2025
Team USA sets new relay record at swim worlds and Katie Ledecky wins again – CBS News

Team USA Smashes Relay Record at Swim Worlds as Katie Ledecky Reigns Supreme Again

August 4, 2025
Dow futures reverse higher as recession alarm bells jolt Wall Street awake from dreams of a gravity-defying economy – Fortune

Dow Futures Soar Amid Growing Recession Concerns Shaking Wall Street Confidence

August 4, 2025
Hank Hill returns to a changed world in new ‘King of the Hill’ episodes – New Haven Register

Hank Hill Navigates a Bold New World in Thrilling New ‘King of the Hill’ Episodes

August 4, 2025
How Trump’s Immigration Policies Are Impacting Health Care – Pulmonology Advisor

How Trump’s Immigration Policies Are Shaping the Future of Health Care

August 4, 2025
Ghislaine Maxwell moved to federal prison camp in Texas – CNN

Ghislaine Maxwell Moved to Federal Prison Camp in Texas

August 4, 2025
How Tech Firms Like Google and Meta Are Embracing the Military – The New York Times

How Tech Firms Like Google and Meta Are Embracing the Military – The New York Times

August 4, 2025

Categories

Archives

August 2025
MTWTFSS
 123
45678910
11121314151617
18192021222324
25262728293031
« Jul    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (754)
  • Economy (779)
  • Entertainment (21,656)
  • General (16,284)
  • Health (9,816)
  • Lifestyle (787)
  • News (22,149)
  • People (778)
  • Politics (788)
  • Science (15,992)
  • Sports (21,274)
  • Technology (15,756)
  • World (760)

Recent News

Archived natural DNA samplers reveal four decades of biodiversity change across the tree of life – Nature

Four Decades of Biodiversity Uncovered Through Archived Natural DNA Samplers

August 4, 2025
Scientists say they have solved the mystery of what killed more than 5 billion sea stars – Yahoo Home

Scientists say they have solved the mystery of what killed more than 5 billion sea stars – Yahoo Home

August 4, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version