FTX Trading Ltd.

Crypto exchange FTX announced its intention to refund more than 90% of the funds to its customers. This decision is part of the revised Plan of Reorganization, which is expected to be submitted by Dec. 16, 2023. If the plan gains approval from the bankruptcy court, distributions could...

A report by FTX Trading Ltd. debtors has revealed that the failed crypto exchange lacked fundamental financial and accounting controls, leading to the loss of billions of dollars in customer funds. The report suggests that the collapse of FTX was due to "hubris, incompetence, and greed"...