Bankruptcy

Tether has agreed to provide $300 million funding to settle a bankruptcy dispute with Celsius following the crypto lender's 2022 bankruptcy and its subsequent $3 billion creditor distribution. The Blockchain Recovery Investment Consortium (BRIC), established by GXD Labs and VanEck, played a key role in this recovery process, approved by the U.S. Bankruptcy Court in New York.

FTX has received court approval for its bankruptcy plan, enabling it to repay customers fully using $16.5 billion in recovered assets. This marks a significant step towards recovery for the embattled crypto exchange.

FTX, the bankrupt crypto exchange, is set to begin another round of creditor repayments on September 30, 2025, after repaying nearly $6.2 billion. Former CEO Sam Bankman-Fried has been sentenced to 25 years in prison for fraud and conspiracy. The upcoming payments will be distributed via BitGo, Kraken, and Payoneer, with the disputed claim reserve reduced to $4.3 billion.