FTX, once among the largest cryptocurrency exchanges in the world, said this week that nearly all of its customers will receive the money back that they are owed, two years after its monumental collapse.
FTX said in a court filing late Tuesday that it owes about $11.2 billion to its creditors. The exchange estimates that it has between $14.5 billion and $16.3 billion to distribute to them.
Here is a timeline of what led up to this week’s announcement after an implosion at FTX kicked off what many had expected to become a “crypto winter.”
Nov. 2: Coindesk reports Alameda Reseach, Bankman-Fried’s cryptocurrency trading firm, holds a large amount of FTT, a token issued by FTX, suggesting the finances of the two are intertwined and Alameda faces a cash crunch. The report spooks participants in the crypto market.
Nov. 6: Rival cryptocurrency exchange Binance announces that the firm plans to sell all its holdings in FTT. The price of FTT tanks.
Harbin war museum sees soaring visits
Proportion of Chinese citizens with scientific literacy reaches 14.14 pct
Spring Festival travel rush sees 34.74 mln trips on first day
Chinese leader Xi Jinping set to meet Serbian officials on the second leg of his Europe tour
Europe, China could be partners for boosting electrification in auto industry
Spain is in suspense waiting for Pedro Sánchez to say whether he will resign or stay in office
Int'l travel expo kicks off in Macao
Poland detains and questions Russian man who illegally crossed from Belarus
Mainland urges Taiwan to resume direct cross
Mexico hit by hours of rolling blackouts due to high temperatures and low power generation
Musiala, Wirtz following in footsteps of Messi, Modric