John Ray

Bankrupt crypto exchange FTX is seeking court approval to allow its millions of customers to vote on a plan that would repay them in cash, but some customers are unhappy with the terms. What Happened: FTX claims it has recovered $16 billion in assets, including $12 billion in cash, enough to repay...

In recent developments, bankrupt cryptocurrency exchange FTX has agreed to a settlement involving some claims related to their acquisition of the stock trading platform Embed. What Happened: The settlement includes FTX founder Sam Bankman-Fried, as well as former FTX executives...

Stephen Findeisen, better known as Coffeezilla, a YouTuber and crypto journalist has voiced criticism regarding Michael Lewis’ latest book centered around Sam Bankman-Fried (SBF), the founder of FTX, who is currently facing trial for alleged fraud involving billions of dollars. What Happened...

Robinhood Markets Inc (NASDAQ:HOOD) on Friday announced an agreement to repurchase 55.3 million shares of its own stock from the U.S. government for $605.7 million. The shares were initially seized from Sam Bankman-Fried, the founder of FTX, following his bankruptcy and ongoing legal issues. The...

Gabe Bankman-Fried, brother of Sam Bankman-Fried, had plans to purchase the island nation of Nauru using the FTX (CRYPTO: FTT) Foundation. His vision was to establish a haven where "effective altruists" could survive an apocalypse in comfort and luxury. This intriguing plan is one of...

Bankrupt cryptocurrency exchange FTX has revealed its plans for a potential revival under the leadership of its new CEO, John Ray, according to a court filing. The filing highlighted the efforts made by Ray during the Chapter 11 bankruptcy process and mentioned the possibility of rebooting FTX...

FTX (CRYPTO: FTT), the insolvent cryptocurrency exchange, has regained over $7.3 billion in cash and digital assets, representing an increase of more than $800 million since January, the company's lawyer indicated during a recent U.S. bankruptcy court hearing. FTX attorney Andy Dietderich...

Judge John Dorsey of the U.S. Bankruptcy Court for the District of Delaware denied a request on Feb. 15 for an independent examiner for FTX, citing additional expenses and unnecessary burden on the creditors and debtors. According to the judge, if an examiner were appointed, the cost of the...

FTX founder Sam Bankman-Fried was under pressure to nominate a new CEO in early November, according to his draft testimony. What Happened: The testimony, seen by Reuters, states that Bankman-Fried nominated John Ray as CEO under pressure by lawyers Sullivan and Cromwell as FTX (CRYPTO: FTT)...

Crypto exchange Bitfront announced on its site that it has closed operations. Bitfront is built on Line blockchain. In the statement, Bitfront said: “Despite our efforts to overcome the challenges in this rapidly-evolving industry, we have regretfully determined that we need to shut...