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Top related persons:
John Dorsey - 1 Dorsey - 1 Chris Shore - 1 Sam Bankman - 1 Bankman - 1 Fried's - 1 Andy Dietderich - 1 Brian Glueckstein - 1
Top related locs:
Delaware Bahamas Wilmington , Delaware U.S Hong Kong District of Delaware
Top related orgs:
U.S - 1 FTX's U.S - 1 FTX Digital - 1 FTX - 1 Bahamian - 1 Bankruptcy - 1 District of - 1 Chris Shore of White - 1

Search resuls for: "Andy Dietderich"


3 mentions found


☆ FTX U.S. judge expresses doubts about parallel Bahamian bankruptcy
  + stars: | 2023-06-08 | by ( Dietrich Knauth | Industry Insight | How Law Firms Calculate Greenhouse Gas Emissions | ) www.reuters.com   time to read: +4 min
Dorsey questioned the value of a Bahamian court ruling during a Thursday court hearing in Wilmington, Delaware, saying that he would retain authority over the $7 billion in assets recovered by the U.S. debtors no matter what the Bahamian court rules. "It doesn't go to FTX Digital until I say it goes to FTX Digital," Dorsey said. The sides offered very different descriptions of how important FTX Digital was to the crypto exchange's operations. A court ruling in their favor could place the Bahamian company, and not the U.S. debtors, in charge of collecting assets and deciding how to distribute them to FTX customers. The case is FTX Trading, U.S. Bankruptcy Court for the District of Delaware, No.
Persons: John Dorsey, Dorsey, Chris Shore, Sam Bankman, Bankman, Fried's, Andy Dietderich, Brian Glueckstein, James Bromley of Sullivan, Cromwell, Chris Shore of, FTX, Dietrich Knauth Organizations: U.S, FTX's U.S, FTX Digital, FTX, Bahamian, Bankruptcy, District of, Chris Shore of White, Thomson, & & $ Locations: Delaware, Bahamas, Wilmington , Delaware, U.S, Hong Kong, District of Delaware
☆ Bankrupt crypto exchange FTX has recovered $7.3 bln in assets
  + stars: | 2023-04-12 | by ( Dietrich Knauth | ) www.reuters.com   time to read: +3 min
April 12 (Reuters) - Bankrupt crypto exchange FTX has recovered over $7.3 billion in cash and liquid crypto assets, an increase of more than $800 million since January, the company's attorney said on Wednesday at a U.S. bankruptcy court hearing in Delaware. FTX's new CEO John Ray has detailed improper fund transfers and poor accounting at the collapsed crypto exchange, describing it as a "complete failure" of controls. He offered few details on what a reboot might mean for FTX customers whose crypto deposits have been locked up during the bankruptcy case. FTX would need significant capital to restart its crypto exchange, because the existing customer interface had little connection to the movement of money behind the scenes, the lawyer said. It is not clear whether FTX should use its own funds to re-start the exchange, rather than using the money to repay customers, Dietderich said.
☆ Failed crypto exchange FTX has recovered over $5 bln, attorney says
  + stars: | 2023-01-11 | by ( Dietrich Knauth Tom Hals | Dietrich Knauth | Tom Hals | ) www.reuters.com   time to read: +5 min
The U.S. Commodities Futures Trading Commission has estimated missing customer funds at more than $8 billion. The affiliates -- LedgerX, Embed, FTX Japan and FTX Europe -- are relatively independent from the broader FTX group, and each has its own segregated customer accounts and separate management teams, according to FTX court filings. In part to preserve the value of its businesses, FTX also sought Dorsey's approval to keep secret 9 million FTX customer names. Dorsey allowed the names to remain under wraps for only three months, not six months as FTX wanted. In addition to customer funds lost, the collapse of the company has also likely wiped out equity investors.
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