creditor

According to Arkham monitoring, the bankruptcy administrators of Alameda Research distributed over $15 million worth of SOL to creditors in the recent round of monthly allocations.A total of $15.6 million in SOL was transferred to 25 independent addresses, as part of a continuous distribution plan that has been ongoing for 21 months. The Alameda on-chain wallet currently still holds $314.95 million worth of SOL.

FTX creditor representative Sunil posted on the X platform, stating that the next round of fund distribution for FTX is expected to take place on March 31. Currently, the total reconciled claims amount to approximately $9.6 billion, of which: claims below $50,000 are about $780 million, claims above $50,000 are about $7.8 billion, and non-customer claims are about $1 billion.Sunil also pointed out that the size of the dispute reserve has decreased by approximately $2.2 billion. If the subsequent allocation of about $2 billion is completed, it is expected that the claims category above $50,000 may receive about $1.7 billion in additional payouts. Overall, the recovery progress for FTX creditors continues to advance, and the pace of future distributions will still depend on the handling of disputed claims and the progress of asset liquidation.

FTX creditor representative Sunil posted on the X platform, stating that some users have reported passing KYC verification for the next batch of FTX payouts, but were asked to provide information such as work experience over the past 10 years, trading strategies, trading history, and initial investment capital.Some users are still waiting for KYC verification to be approved. The next batch of FTX payouts must be registered by February 14, and users need to complete KYC verification, submit the W-8 BEN form, and choose a payout distribution agent.

On-chain detective ZachXBT previously disclosed that Danny / Meech, also known as Danish Zulfiqar (Khan), is suspected to have been arrested by law enforcement and had his crypto assets seized. He was involved in the $243 million Genesis creditor theft case, carried out in conjunction with Malone, Veer, Chen, and Jeandiel. However, the Dubai police or UAE regulatory authorities have not yet made any public statements, nor have any local media reports confirmed any villa raids, arrests, or seizures related to Zulfiqar, the Genesis creditor theft case, or the earlier Kroll SIM card exchange incident.

FTX creditor Arush disclosed on social media that there were three final bidders with financial strength for the FTX 2.0 reboot project, but they were ultimately rejected by the bankruptcy lawyers.Arush revealed that he was recruited by Arj to be responsible for the FTX 2.0 reboot bidding, and his consortium became one of the three final bidders. The three bidders were: Arj/Tribe in partnership with an undisclosed public exchange; Thomas Farley's Bullish; and Mike Cagney's Figure.According to him, each bidding proposal included significant equity components, which could have brought hundreds of billions of dollars in value to FTX creditors.

A representative of FTX creditors, Sunil, stated on social media that FTX's total assets before repayment to creditors are between $16 billion and $17 billion. A repayment of $454 million is scheduled for February 18, 2025, followed by a repayment of $5 billion on May 30, 2025, and another $1.6 billion on September 30, 2025, bringing the total repayment amount to $7.1 billion.The next repayment is expected to take place in January 2026, and the deadline for determining distribution eligibility may be in December (creditor representative Sunil indicated that the specific date still awaits an official announcement).

According to DL News, Bittrex's bankruptcy filing is filled with tens of thousands of contradictory, suspicious, and unlikely transactions, which could affect nearly 2 million customers who held funds on the exchange before its closure in 2023.Regulatory compliance researcher Pasha Onur stated, "Our analysis of the court documents and Bittrex's hot and cold wallets shows that over $500 million in fraudulent transactions were submitted to the bankruptcy court across multiple bankruptcy cases." If the numerous transactions submitted in Bittrex's bankruptcy filing are inaccurate, it could have significant implications for creditors attempting to recover funds from the collapsed trading platform. Bittrex was founded in Seattle in 2014 and had repeatedly violated regulatory requirements, filing for bankruptcy in May 2023, shortly after the U.S. Securities and Exchange Commission accused it of operating an unregistered securities exchange. The trading platform shut down in December of the same year.

According to documents from the Delaware Bankruptcy Court, FTX's recovery trust has officially withdrawn its previously submitted motion, which was intended to implement "restricted procedures" in certain foreign jurisdictions to advance the execution of the restructuring plan.After the court expressed objections during the hearing on October 23, the motion has been unconditionally withdrawn, marking a phased victory for affected creditors in their pursuit of rights. If there are plans to restart the procedure in the future, a new motion must be submitted and the notification process must be followed.

The FTX creditor representative Sunil stated on social media that the actual recovery rate of FTX creditors' cryptocurrency assets is between 9% and 46%, and due to the current high cryptocurrency prices, the actual recovery value may be even lower. Even if the nominal payment ratio reaches 143%, converting it into the actual cryptocurrency value still cannot allow creditors to "break even." Additional recoveries will come from airdrops from certain projects to FTX creditors (these airdrops occur outside of the bankruptcy proceedings).Currently, Paradex has issued airdrops to FTX creditors, and more projects are expected to follow.

ChainCatcher news, former FTX CEO Sam Bankman-Fried (SBF) released a report titled "FTX: Where Did The Money Go?", which states, "FTX never went bankrupt, even though its lawyers placed it in bankruptcy."More than 7 million customers deposited about $20 billion into the cryptocurrency exchange FTX. In November 2022, when customers attempted to withdraw their funds, FTX filed for bankruptcy, still owing customers $8 billion. Customers have not recovered any funds for years. Where did those billions go?The answer is that the funds never left. After two years of delays, the bankruptcy administration revealed that all customers will receive 119% to 143% repayment. About 98% of creditors have received 120% repayment, and after paying $8 billion in claims and $1 billion in legal fees, the bankruptcy administration still has $8 billion remaining.

ChainCatcher news, Argo Blockchain, a cryptocurrency mining company, will be taken over by its largest creditor Growler Mining through a "debt-for-equity" swap, with existing shareholders retaining only a minimal percentage of shares. According to the restructuring documents submitted under the UK Companies Act, Growler will convert approximately $7.5 million of secured loans into equity and inject new funds in exchange for 87.5% of Argo's equity post-restructuring. Holders of Argo's approximately $40 million unsecured bonds will collectively receive 10% of the shares, while original shareholders will retain only 2.5%. The restructuring plan is named "Project Triumph," aimed at avoiding bankruptcy and maintaining the company's listing status on Nasdaq.

ChainCatcher news, as FTX prepares to make a third round of payments totaling $1.65 billion to creditors, the official FTX account issued a stern warning on the X platform, reminding creditors and the public to be wary of the increasing phishing attacks.Fraudsters are impersonating the bankruptcy restructuring manager Kroll Restructuring Administration and FTX Recovery Trust to send deceptive emails, claiming that users are eligible for a payout of 118% to 142%, and luring users to click on fraudulent links or visit fake websites to connect their wallets or confirm information. FTX emphasizes that the official entity will never ask users to connect their wallets or provide personal information via email to receive funds, and urges creditors to only consult the official website and remain vigilant against any suspicious emails.

ChainCatcher news, FTX creditor representative Sunil stated that BitGo has begun sending emails to creditors who chose it as their distribution agent, confirming that funds have been deposited into the FTX creditor accounts, and the funds will be unlocked on September 30, 2025, at 8 PM Eastern Standard Time.Previously reported, FTX announced that on September 30, 2025, it will facilitate approximately $1.6 billion in third-round repayments to approved creditors in the convenience and non-convenience classes who have completed the pre-allocation requirements. Eligible creditors are expected to receive funds through their chosen distribution service providers within 1 to 3 business days starting from September 30, 2025.

ChainCatcher message, FTX announced that on September 30, 2025, it will facilitate approximately $1.6 billion in the third round of payments to approved creditors of the convenience and non-convenience classes who have completed the pre-allocation requirements.Eligible creditors are expected to receive funds within 1 to 3 business days starting from September 30, 2025, through their chosen distribution service provider.

ChainCatcher news, according to Cointelegraph, the bankrupt cryptocurrency lending platform Celsius Network will conduct a third round of asset distribution to creditors, amounting to $220.6 million. After this distribution is completed, the total asset repayment ratio for creditors will reach approximately 64.9%.

ChainCatcher news, the account FTX Historian tracking the FTX bankruptcy and compensation situation, posted a summary of last night's FTX hearing on X. The core content of the hearing is: For creditors in "restricted jurisdictions" (such as China), their funds will not be immediately confiscated as proposed in the original FTX recovery plan, but creditors will be allowed to transfer to non-restricted jurisdictions.FTX Historian further stated that for affected creditors, such as those who completed KYC in China but now reside in other jurisdictions like Singapore, this may be a pathway to claim compensation, although it may require further information updates and more time costs.

ChainCatcher news, according to Cointelegraph, the FTX liquidation team has submitted a request for an extension to the Delaware court, seeking more time to respond to over 90 creditor objections raised against its plan to freeze a $470 million multinational payment scheme. The plan intends to designate 49 jurisdictions, including China, as "restricted areas," suspending compensation payments to relevant creditors.FTX stated that this move aims to avoid potential legal risks, especially the criminal liabilities that executives may face. Currently, claims from Chinese creditors account for 82% (approximately $380 million) of the total. However, the plan has faced strong opposition, with Chinese creditor representative Weiwei Ji stating that hundreds of investors have organized to collectively defend their rights. Another creditor, Sunil Kavuri, revealed that approximately $1.4 billion in claims remain unresolved. A related hearing will be held this Tuesday.

ChainCatcher message, FTX creditor representative Sunil tweeted that the FTX Bahamas claims process may fall under the jurisdiction of UK/EU rules and requires additional approval.

ChainCatcher news, according to CryptoSlate, over 500 Chinese creditors are challenging FTX's request to freeze $470 million in payments in a U.S. court. These creditors believe that FTX's action violates previous commitments and harms their rights.They point out that FTX had clearly stated in its restructuring plan that as long as creditors submitted claims and voted in favor of the plan, they would receive distributions just like other creditors. However, FTX is now attempting to deprive them of their compensation rights on the grounds of "nationality or legal uncertainty."