FTX Dockets

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December 18, 2024

28891

Celsius proof of claim disallowed

On December 18, 2024 Judge Dorsey entered an order disallowing Celsius’s original proof of claim, filed for $2B, and it’s amended proof of claim, filed for $444M. Celsius had originally filed a broad proof of claim alleging many different items, then modified it over a year later to assert alleged preferential transfers. Judge Dorsey ruled that the original proof of claim was not sufficient to satisfy a protective proof of claim for potential preferential transfers and that Celsius did not meet the standard for exclusable neglect to assert a claim not relevant to its original proof of claim.

December 11, 2024

28689

Order setting dispute claim reserve

Disputed claim reserve is set at $6.533B. Future changes to the reserve with be proceeded by a “Notice of Adjustment of Disputed Claims Reserve Amount".

November 21, 2024

28128

October monthly operating reports filed

Debtors collected $4.6M cash from sales and liquidated $35.9M of crypto. Current cash balance is $12.25B and crypto assets (at petition date values) of $978M.

November 20, 2024

28102

FTX seeks to establish Disputed Claims Reserve

FTX has filed a motion to create a Disputed Claims Reserve, which is one required step to allow distributions. They have determined that $6.544B of disputed claims is a conservated initial researve, of which they expect that $3.4B will be disallowed. The motion mentions that they will have over $12B of cash available on the initial distribution date.

November 11, 2024

27858

FTX settles with former Co-CEO of Alameda Sam Trabucco

FTX settles with Sam Trabucco. During his time at Alameda he received the benefit of $40M in potentially avoidable transfers. He also filed $70M in proofs of claims in the case. The settlement provides: (1) transfer to the estate of two apartments in San Francisco, CA with value of $8.7M, (2) transfer to the estate a yacht worth $2.51M, (3) disallowment of the $70M in proofs of claims.

November 10, 2024

27852

FTX seeks to recover $1.76B from Binance and former Binance CEO

The FTX estate seeks to recover $1.76B of cryptocurrency paid by the estate to Binance and Binane executives in July 2021 in exchange for FTX and FTX US equity. The estate alleges that the Debtor was insolvent at this time and therefore the payment was a constructive fraudlent transfer. In addition the estate will seek compensatory and punitive damages to be determined at trial.

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.