Bitcoin

FTX stands for the bankrupt cryptocurrency trade that entered the deal with Emergent Fidelity Technologies regarding the $600 million claim connected to Robinhood stakes. This is a step the exchange takes towards addressing several financial issues emanating from the FTX crash in November 2022.Under the <a href="https://restructuring.ra.kroll.com/FTX/Home-DownloadPDF?id1&#61;MzIwNjM4MQ&#61;&#61;&amp;id2&#61;-1" rel="noopener noreferrer nofollow">agreement</a>, FTX debtors will have to pay Emergent $14 million to cover administrative expenses. Consequently, Emergent shall drop its motion to reclaim over 55 million shares in Robinhood, which has been the subject of a legal struggle. This resolution is crucial for FTX and its creditors, as it helps avoid lengthy and expensive litigation.Another affiliate of<a href="https://cryptotale.org/ftx-and-alameda-research-move-millions-in-eth/" rel="noopener noreferrer nofollow"> FTX</a>, an offshore investment firm, established by Bankman-Fried, the ex-CEO of FTX, and Wang, did the same while declaring Chapter 11 bankruptcy in February 2023. The settlement allowed Emergent to exit its bankruptcy process in Antigua rapidly.In addition, it is beneficial for <a href="https://cryptotale.org/ftx-estate-to-auction-locked-solana-tokens-following-massive-sale/" rel="noopener noreferrer nofollow">FTX </a>creditors as it allows them to get a more significant share of the estate. It is central to FTX’s reorganization process, which aims to improve creditor satisfaction or payout. FTX chief executive officer John Ray III pointed out the deal&#39;s importance in a declaration filed in the Delaware Bankruptcy Court, adding that it resulted from prior bona fide and arms-length transactions.Related: <a href="https://cryptotale.org/ftx-resolves-200-million-irs-tax-dispute-amid-bankruptcy-proceeding/" rel="noopener noreferrer nofollow">FTX Resolves $200 Million IRS Tax Dispute Amid Bankruptcy Proceeding</a><a href="https://cryptotale.org/ftx-finalizes-600m-robinhood-settlement-shares-dispute/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

FTX finalizes $600M Robinhood Settlement Shares Dispute

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