Tyr investor TGT has brought claims against the hedge fund that it ignored several warnings over its ties with FTX.
However, WLD prices may run into headwinds as a token unlock worth $165 million is set to begin today, occurring until Feb.26, data from Token Unlocks show.
Restitution paid to victims can be considered when sentencing, and judges in the Southern District of New York routinely impose shorter terms than guidelines suggest for white-collar cases.
The bankrupt exchange’s unit, Digital Custody Inc., which FTX bought for $10 million, sold for just $500k to CoinList.
Court filings show the crypto estate wants to agree procedures so that it can sell the shares at the “optimal” time.
The federal indictment doesn’t identify Sam Bankman-Fried’s FTX as the pilfered company, but Bloomberg reported that’s who it was.
Sam Bankman-Fried’s cryptocurrency exchange infamously collapsed months after the commercial.
BTC’s price has fallen since bitcoin ETFs were approved. In theory, now that FTX is done selling its substantial holdings, the selling pressure could ease since a bankruptcy estate liquidating holdings is a relatively unique event.
Asset values for creditor claims will be calculated at prices on the day FTX filed for bankruptcy in November 2022, the plan says.