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FTX Dockets

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Docket Name Docket Name

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Docket Name Docket Name

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Docket Summary Docket Summary

November 1, 2024

27505

FTX files adversary proceeding to recover $40M of assets from gate.io

The debtors filed an adversary proceeding to recovery $40M in market value of cryptoassets held by gate.io in a locked account. The estate previously recovered about $10M of assets prior the account being locked. Simultaneously, FTX is seeking disallowace of $13.3M of claims filed by a gate.io affiliate.

October 28, 2024

27322

FTX files adversary proceeding against Kucoin to recover $50M

The Debtors have initiated an adversary proceeding to recover approximately $50M of assets held on the Kucoin platform. At the petition date these assets were worth approximately $28M and Kucoin has been unresponsive to debtors outreach to secured the assets.

October 24, 2024

27232

Motion to approve Bybit settlement

The FTX debtors filed a motion to settle litigation with Bybit and related entities. FTX asserted that Bybit had refused to allow withdrawal of $175M of assets held on the Bybit exchange, that Bybit had devalued certain of the Debtor's assets, and that Bybit related parties had benefited from preferential transfers. The proposed settlement includes the release of the assets, a cash payment of $52.7M for the devalued BIT tokens, and allowance of certain customer claims. The benefit to the estate totals approximately $227M.

October 21, 2024

27040

FTX files September 2024 monthly operating reports

Debtors continue to earn substantial interest on cash in the estate. Debtors liquidated $66.1M of crypto pursuant to their crypto liquidation plan with Galaxy Digital.

September 25, 2024

25683

FTX reaches global settlement with multidistrict litigation plaintiffs

FTX reaches a global settlement with the multi-district litigants (“MDLs”), resolving disputes across several courts. The MDL plaintiffs agree to stop trying to divert estate assets to the Florida cases, coordinate information sharing, and support the FTX reorganization plan. The settlement also identifies which claims the MDL plaintiffs can pursue and grants mutual releases.

September 25, 2024

25679

FTX Examiner files Phase II Report

FTX Examiner Robert Cleary filed his Phase II Report investigating the Sullivan and Cromwell representation of SBF in the purchase of the shares in Robinhood Markets, Inc., claims resulting from the LedgerX transaction, and balance sheet shortfalls in FTX.US assets. The examiner concludes S&C had not conflict of interest or knowledge of misconduct, the LedgerX claims would likely not be viable, and lack of financial controls at FTX.US made detecting balance sheet deficiencies difficult.

September 20, 2024

25321

FTX files monthly operating repors for August 2024

FTX ended August with over $12.1B in cash. Although the amount of cash interest earned per month on estate assets is not clear, it is likely the estate is generating $40-$50M of interest per month. Crypto liquidations significantly slowed in August with only $15.1M of crypto sold. No cash on major asset sales were collected.