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FTX, the cryptocurrency exchange that declared bankruptcy in November 2022, has seen its bankruptcy proceedings accrue over $500 million in approved fees, with requests totaling more than $700 million. Significant fees include $254 million for Sullivan and Cromwell and $133 million for Alvarez and Marsel. FTX has proposed a plan that could allow almost all of its customers to recover their lost funds in cash. Additionally, FTX has requested a U.S. judge to halt outside litigation against company insiders and venture capital firms accused of contributing to the exchange's collapse, arguing that such lawsuits undermine its efforts to repay customers.
FTX asked a US judge to stop outside litigation against company insiders and venture capital firms accused of playing a role in the bankrupt crypto exchange's collapse, saying the lawsuits undermine FTX's own effort to repay customers https://t.co/NQWlPGGaPx https://t.co/HovEwLHun2
🔵 FTX SEEKS TO STOP OUTSIDE LITIGATION AGAINST INSIDERS, VC FIRMS Full Story → https://t.co/x4dYNEn7fQ FTX on Tuesday asked a U.S. judge to stop outside litigation against company insiders and venture capital firms accused of playing a role in the bankrupt crypto exchange's… https://t.co/J25ToQPRAu
Cryptocurrency exchange FTX, which went bankrupt in November 2022, announced that almost all of its customers could get back what they lost in cash, and then some, under a newly proposed plan. https://t.co/SLUZznR6ti
