{
Gary Wang

People

}
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001122334455554433221100

FTX payment plan effective as users await fund reimbursements

FTX's reorganization plan took effect on January 3, allowing users to begin receiving repayments, with the first group expected to see funds within 60 days. Users must file claims through the official website, and 98% are projected to receive 119% of their declared funds. However, some creditors have criticized the reimbursement method based on cryptocurrency prices at the time of bankruptcy.
Cointelegraph
Kraken Energy Corp. SGP Caroline Ellison Sam Bankman-Fried Ryan Salame Gary Wang Nishad Singhi Show more
Finance & Economy, News Article
21:58 03.01.2025

FTX Chapter 11 plan effective January 2025 with significant creditor recoveries

FTX's Chapter 11 reorganization plan will take effect on January 3, 2025, with initial payments to creditors expected within 60 days. The plan, which received strong creditor support, allows for recoveries averaging 119% of claims, with some receiving up to 140% in cash. Distribution will be facilitated by crypto custodians BitGo and Kraken, following the company's significant bankruptcy filing in late 2022 and the subsequent convictions of key executives.
CryptoPotato
USA John J. Ray III Gary Wang Caroline Ellison Sam Bankman-Fried Ryan Salame Nishad Singhi Show more
Finance & Economy, Press Release
05:47 18.12.2024

ftx co-founder gary wang sentenced to time served and supervised release

Gary Wang, co-founder of FTX, was sentenced to time served and three years of supervised release after pleading guilty to multiple fraud charges. He was ordered to forfeit $11 billion and credited for his cooperation with authorities, which included testifying against founder Sam Bankman-Fried. Wang expressed remorse in court, stating he took the "cowardly path" and vowed to make amends.
CNBC
FTX Alameda Research LLC USA Nishad Singhi Sam Bankman-Fried Ryan Salame Lewis A. Kaplan Gary Wang Caroline Ellison Nicolas Roos Show more
Regulatory & Legal, Transcript
16:50 20.11.2024
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