FTX Has Reached Settlement Agreements With Evolve Bank, SVCF, Expects to Recover About $21 Million in Assets
Bankrupt cryptocurrency exchange FTX has reached settlement agreements with Evolve Bank and the Silicon Valley Community Foundation (SVCF) that are expected to recover about $21 million in assets, according to CryptoSlate.Court filings on Oct. 30 show that the settlements still require court approval, and a hearing is scheduled for Nov. 20, according to CryptoSlate.
Under the terms of the settlements, Evolve Bank will return approximately $12.77 million to FTX and retain $462,700 for indemnification costs. In addition, the bank will waive all claims against FTX. For its part, the Silicon Valley Community Foundation agreed to return $8.57 million in cash and 34,208.70 FTT tokens to avoid litigation. The foundation previously raised some of the money through the sale of donated FTTs for external donations, and now retains a portion of the balance.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Report: US-Iran conflict disrupts OPEC+ production increase schedule, capacity review postponed to mid-November
According to media reports, the capacity review work by OPEC+ has been delayed. Originally scheduled to be completed by the end of September 2026, it has now been postponed to mid-November. This theoretically still allows OPEC+ to discuss the related results at the plenary meeting in late November. The independent capacity assessment results will directly affect the production caps approved for each member country, and some member countries have already shown significant disagreements regarding quotas, putting pressure on the alliance’s stability.
71% of UK finance leaders expect tokenization to reshape financial services: Lloyds
Crypto prices
More
