FTX, once among the largest cryptocurrency exchanges in the world, said this week that nearly all of its customers will receive the money back that they are owed, two years after its monumental collapse.
FTX said in a court filing late Tuesday that it owes about $11.2 billion to its creditors. The exchange estimates that it has between $14.5 billion and $16.3 billion to distribute to them.
Here is a timeline of what led up to this week’s announcement after an implosion at FTX kicked off what many had expected to become a “crypto winter.”
Nov. 2: Coindesk reports Alameda Reseach, Bankman-Fried’s cryptocurrency trading firm, holds a large amount of FTT, a token issued by FTX, suggesting the finances of the two are intertwined and Alameda faces a cash crunch. The report spooks participants in the crypto market.
Nov. 6: Rival cryptocurrency exchange Binance announces that the firm plans to sell all its holdings in FTT. The price of FTT tanks.
Republicans renew push to exclude noncitizens from the census that helps determine political power
Rahul and De Kock pace Lucknow chase in IPL win over Chennai
Previewing the 1st round of the NBA playoffs, which start on Saturday
Five young men shot at gathering in Maryland park
Maradona’s missing trophy has resurfaced and will be auctioned in Paris
NHL PLAYOFFS: West best Dallas vs. defending champion Vegas headlines 1st
Dalai Lama’s sister receives award for educating Tibetans in exile — Radio Free Asia
Shocking moment group of yobs hurl racist abuse at train passengers
House Republicans will turn to K
Pennsylvania cop and military veteran, 28, 'raped 13
Andy Murray to return from ankle injury at Geneva Open this month
China's BYD adds new dealership in Tokyo