ChainCatcher message, FTX creditor representative Sunil disclosed that FTX has sent email notifications to customers who did not meet the requirements for the first round of asset distribution. Customers who failed to participate in the first round distribution on February 18, 2025, include: customer claims under review, customers with claims exceeding $50,000, and customers who have not completed KYC, tax, and distributor-related requirements.These customers will be included in subsequent distribution plans after completing the relevant requirements, which are expected to take place in the second quarter of 2025.

ChainCatcher news, according to Ember monitoring, FTX/Alameda conducted its monthly routine SOL unstaking operation 6 hours ago, redeeming 184,162 SOL (approximately 37.73 million USD) from staking and distributing it to 23 different addresses.Since November 2023, this address has cumulatively redeemed and transferred 4.629 million SOL (approximately 555 million USD), with an average transfer price of 120 USD, most of which was transferred to Coinbase or Binance.Currently, the FTX/Alameda staking address still holds 6.338 million SOL, valued at approximately 1.25 billion USD.

ChainCatcher news, crypto analyst Miles Deutscher posted on X that the current market decline is more painful than during the FTX collapse in 2022.He explained that during the FTX incident, people had become numb to the declines and no longer held any hope. However, at the time of this decline, people were still expecting a massive altcoin rally. Losing hope is more painful than losing money.

ChainCatcher news, FTX creditor representative Sunil disclosed on X that FTX repayments will begin on February 18, 2025, at 10 AM Eastern Time, prioritizing creditors with claims under $50,000.The repayment allocation will include 100% of the adjudicated claim value (up to $50,000), as well as an additional compensation amount of 9.0% annual interest on the adjudicated claim value from November 11, 2022, to the initial distribution date.

ChainCatcher news, LayerZero CEO Bryan Pellegrino posted on social media, "After more than two years and millions in legal fees, we have reached a settlement agreement with the FTX estate.Ultimately, we decided this is not a confrontation between us and FTX, although we felt we had every reason to do so, but rather a confrontation between us and the creditors. The original repurchase amount has been returned to the FTX estate. I'm glad to no longer be frequently on calls with lawyers and can focus all my energy on building."

ChainCatcher news, according to Bloomberg, a source revealed that FTX founder Sam Bankman-Fried's parents are meeting with lawyers from Trump's circle and other figures believed to be closely connected to Trump, trying to seek a pardon for SBF. It is currently unclear whether they have contacted the White House. SBF was sentenced to 25 years in prison for fraud.

ChainCatcher News, President Trump has appointed Danielle Sassoon as the acting head of the U.S. Attorney's Office for the Southern District of New York, overseeing matters in Manhattan and the surrounding areas.Sassoon previously led the prosecution of FTX founder Sam Bankman-Fried, which resulted in Bankman-Fried being sentenced to 25 years in prison. Additionally, she was involved in the Department of Justice's case against Terra founder Do Kwon.Sassoon graduated from Harvard University and Yale Law School, and she served as a clerk for the late Supreme Court Justice Antonin Scalia. She will lead the Southern District Attorney's Office until the confirmation process for Trump's nominee, Jay Clayton, is completed.

ChainCatcher news, according to on-chain data monitored by Yu Jing, FTX/Alameda completed its monthly SOL redemption operation 3 hours ago, redeeming 182,421 SOL (approximately 32.35 million USD) from staking and distributing it to 20 addresses. Since last November, this staking address has cumulatively redeemed and transferred out 4.445 million SOL (approximately 516.88 million USD), with an average transfer price of 116.2 USD per SOL.Currently, FTX/Alameda's staking address still has 6.47 million SOL (approximately 118 million USD) staked.

ChainCatcher news, FTX creditor Sunil tweeted that Kraken has sent emails to customers who chose the platform to receive FTX distribution funds, notifying them that the account registration process has been successfully completed. BitGo is also expected to initiate a similar process.There is currently no specific timeline for the distribution of claims exceeding $50,000, while users with claims below $50,000 must complete the relevant procedures within 60 days starting from January 3.

ChainCatcher news, Kraken announces zero-fee cryptocurrency trading for FTX creditors with a $50,000 offer.Kraken stated that new customers who choose to receive funds from FTX will receive a fee waiver, allowing them to purchase $50,000 worth of cryptocurrency on Kraken Pro without paying any trading fees. Depending on the amount of funds received, they will receive a $105 Kraken trading fee credit (KFEE). These will be credited to the customers' accounts after the FTX allocation is received. The fee credit can only be used on Kraken Pro.

ChainCatcher news, according to The Block, the FTX estate claims that the announcement of the acquisition of FTX EU by Backpack Exchange was made without its knowledge and states that Backpack did not participate in the process approved by the U.S. bankruptcy court for returning funds to any FTX creditors.Backpack clarified that in February 2024, the FTX group sold its European assets (including FTX EU) to a former insider, a transaction that was approved by the bankruptcy court and completed in May 2024. German court records show that Backpack later purchased these assets from the insider in June 2024. The transfer of FTX EU to Backpack required regulatory approval from the Cyprus Securities and Exchange Commission, which was obtained in December 2024.Backpack stated, "After obtaining approval, FTX Asset Management is obligated to transfer shares in accordance with the court-approved sale and purchase agreement. We look forward to the completion of the transfer so that we can begin returning customer funds to former FTX EU customers, just like the FTX bankruptcy asset management company."

ChainCatcher news, according to Cointelegraph, the bankrupt cryptocurrency exchange FTX stated that the acquisition of its European branch FTX EU by the cryptocurrency exchange Backpack has not yet been approved by the bankruptcy court, and Backpack has not been authorized to distribute funds to FTX creditors.Backpack announced on January 7 that it has acquired FTX EU and stated that it will assume the responsibility of repaying debts to EU customers as part of the court-approved bankruptcy process. Backpack founder Armani Ferrante stated that his exchange will not conduct any transactions in the EU until it can repay FTX creditors, adding that it may be ready as early as February.However, FTX stated in a statement on January 8 that Backpack's "claim" of acquiring FTX EU has not occurred and has not been approved by the U.S. Bankruptcy Court for the District of Delaware, adding that all statements released by Backpack were made without FTX's knowledge. FTX debtors had previously agreed to sell FTX EU to some "former insiders" of FTX Europe under a settlement agreement supervised by the bankruptcy court, but only stated that they were informed that these former insiders had agreed to indirectly transfer FTX EU to Backpack. FTX also noted that Backpack has not been granted the authority to manage the repayment to creditors.

ChainCatcher news, Backpack Exchange, founded by former FTX and Alameda employees, has acquired the bankrupt FTX's former European entity for $32.7 million to expand its derivatives business in the region.FTX EU is one of the business units that ultimately went bankrupt after FTX collapsed in 2022. As part of the acquisition, Dubai-based Backpack will be responsible for distributing approximately €53 million ($55 million) in FTX bankruptcy claims previously approved by the court to FTX EU customers.The FTX bankruptcy asset manager filed a lawsuit attempting to recover millions of dollars from the original owners of FTX EU. The lawsuit was ultimately dismissed as part of a settlement agreement, which included the resale of the unit to FTX Europe's co-founders Patrick Gruhn and Robin Matzke. Backpack purchased the company from the co-founders. (Bloomberg)Yesterday's news, Backpack Exchange has received approval from the Cyprus Securities and Exchange Commission and the FTX bankruptcy court to officially acquire FTX EU. Backpack Exchange will be responsible for distributing the previously court-approved bankruptcy claims for FTX EU users.The trading platform is valued at $120 million in its Series A funding round in early 2024 and has obtained licenses from Dubai VARA and EU MiFID II. The newly established Backpack EU plans to launch in the first quarter of 2025, offering cryptocurrency derivatives trading services, supporting SEP A payments and major European currency wire transfers.

ChainCatcher news, FTX's European branch FTX EU has been acquired by Backpack Exchange for $32.7 million. FTX EU previously held a MiFID II license issued by the Cyprus Securities and Exchange Commission (CySEC).The company's new European entity will offer a range of crypto derivatives services across the EU, including perpetual futures. As part of the deal, Backpack EU will be responsible for distributing funds to FTX EU customers according to the court-approved bankruptcy claims process.After reactivating the license, Backpack EU is expected to go live in the first quarter of 2025.

ChainCatcher message, FTX creditor Sunil posted on platform X stating: "SUI has reached $5.2, with a market cap of $16 billion. FTX sold 890 million SUI (warrants) + equity to Mysten Labs for $96 million in March 2023, and these tokens are now worth about $4.6 billion."

ChainCatcher news, according to CoinDesk, TradingView data shows that this week the market capitalization of USDT fell by nearly 1.1% to $137.24 billion, marking the largest drop since the FTX exchange collapse in the second week of November 2022. In mid-December 2024, the market capitalization of USDT reached a record $140.72 billion.Previously, several exchanges located in the EU and Coinbase decided to delist USDT due to its non-compliance with the EU's Markets in Crypto-Assets (MiCA) regulation, which comes into full effect on December 30. USDT serves as a gateway into the cryptocurrency market, widely used by investors to fund purchases of spot cryptocurrencies and derivatives trading.As a result, the delisting and market cap decline have sparked speculation on social media about an overall downturn in the cryptocurrency market. However, these concerns may be unfounded, and the negative impact may be limited to the Eurozone at most.