That disclosure significantly raises the estimated amount of funds FTX claims to hold. Last month, FTX lawyers submitted filings that showed the company and its affiliates had a total of $1.2 billion in cash. The lawyers also said they had identified more than 9 million creditors — far more than earlier estimates of around 1 million. It remains unclear how much creditors will get back of the funds that were frozen after trading was halted as FTX began to unravel in November.
FTX’s implosion is expected to wipe out its equity investors, dozens of whom were identified in court filings this week. They include celebrities such as NFL star Tom Brady and supermodel Gisele Bundchen. Separately Wednesday, the New York Times asked the judge overseeing the criminal case against Bankman-Fried to unseal court records identifying two people who agreed to co-sign his lofty $250 million bond.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
I think they are truly recover
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business News - Latest Headlines on CNN Business | CNN BusinessView the latest business news about the world’s top companies, and explore articles on global markets, finance, tech, and the innovations driving us forward. Great, now all I need is some money to dump into a 401k Good news for you people who don't need money before age 73. The Federal match is unconstitutional: it is illegal to take after-tax govt revenue and incentive a tax-deferred account that is 100% taxed on distributions. Why force 401ks by making it automatic? It has penalties, restricts choices, and 100% of each $1 distribution is taxed!
Source: CNN - 🏆 4. / 95 Read more »
FTX business sales draw over 100 expressions of interestMore than 100 potential buyers have contacted the investment bank handling FTX's assets about acquiring for the collapsed crypto exchange's sub-businesses.
Source: FoxBusiness - 🏆 458. / 53 Read more »
McDonald's ex-CEO will pay $400,000 for allegedly misleading investors about his firing | CNN BusinessDisgraced former McDonald's CEO Steve Easterbrook will pay $400,000 to settle charges that he allegedly misled investors about the circumstances of his 2019 firing following a relationship with an employee. Sounds like he gave them a load of McBullshit I always love these articles where someone takes advantage of an investor/s, and the money or fine that gets levied/recouped goes to the government…not the person/s that we’re effected…help this make sense please… That's like 3 Big Macs.
Source: cnni - 🏆 326. / 59 Read more »