Ftx

NBA legend Shaquille O’Neal just dropped $1.8 million to settle a lawsuit over his role in promoting the now-collapsed FTX crypto exchange. 😳

🧾 What’s the Story?

Investors claim they were misled after seeing Shaq in FTX ads. Ironically, he only got paid $750K for the promo—but now he’s paying more than double to put the legal drama to rest.

Shaq says he was “just a paid actor”, but the lawsuit accused him (and other celebs like Tom Brady and Larry David) of helping boost FTX’s trust before it crashed.

✅ No Guilt, Just Goodbye

Under the deal:

Shaq walks away with no admission of guilt

He won’t get reimbursed from the FTX bankruptcy estate

And yes, he's officially off the hook if the court approves

💡 Why It Matters for Crypto?

This case reminds us: celebrity hype ≠ financial advice. As crypto investors, we’ve got to do our own research (DYOR) — not just trust a familiar face.
$BTC $SOL $BNB
👉 Stay sharp. Stay informed. And don’t fall for the glam.
#CryptoNews #FTX #dyor

The bankrupt crypto exchange FTX has added Payoneer to its list of distribution agents, alongside BitGo and Kraken. This fintech platform is now the third entity tasked with helping deliver refunds to retail customers. However, many users remain upset — especially those in so-called "restricted jurisdictions."
FTX announced that Payoneer would be available as a payment provider starting May 30, 2025, for supported countries. In the previous two payout phases, over $7 billion was distributed. Payoneer is expected to take a major role in the upcoming third phase.
🔒 Terms come with a catch

FTX warned that customers who register with Payoneer effectively waive their right to receive payouts directly from the exchange. Instead, FTX will transfer funds to Payoneer, which will then send them to users’ bank accounts. The company also urged caution against phishing attempts and fake FTX websites, clarifying it would never ask creditors to connect their wallets.

Help for Some — But Many Still Waiting
The inclusion of Payoneer appears to be a response to criticism from users in blocked countries — like China, Russia, Nigeria, and Egypt — who were left out of previous payouts. Although Payoneer expanded access to more regions (e.g., Indonesia, Japan, and some U.S. states like New York and Maine), only about 90 out of its 190 supported countries currently qualify for FTX distributions.
📌 Who’s still excluded?

Key nations like China, Russia, Ukraine, and Nigeria are still restricted. This is particularly problematic as China alone holds about 8% of total creditor claims.
Several creditors accuse the bankruptcy administrators of favoring U.S.-based users while leaving others in limbo, leading to mounting frustration.

Even in the Bahamas, Frustration Grows
The backlash isn’t limited to restricted countries. Creditors in supported jurisdictions — like the Bahamas — are also voicing complaints. Many are stuck in stages like identity verification, payout setup, or claim resolution, sometimes for months.
However, some users have reported receiving their funds, indicating that the issues don’t affect all FTX Bahamas customers. Meanwhile, several users are still waiting on disputed claims. FTX has allocated $6.5 billion for these claims, with $3.1 billion expected to be approved in the next phase.

📉 BitGo Users Facing Delays Too

Even BitGo, once considered a reliable intermediary, is now facing criticism. According to creditor advocate Sunil Kavuri, BitGo withdrawals are delayed due to technical hurdles, weekend inactivity, and the fact that transfers aren’t processed in real-time.

#FTX , #crypto , #CryptoNewss , #blockchain , #DigitalAssets

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#FTX CUSTOMER ALERT: More Ways to GET YOUR MONEY BACK — Payoneer LIVE!
Now you’ve got MORE ways to get your money back 👇
✅ #Payoneer officially joins Kraken & BitGo as the 3rd service helping process customer recoveries under FTX’s bankruptcy plan.
✅ Payoneer will allow payouts in local bank currency — covering 190+ countries
✅ Users can select Payoneer on the FTX Customer Portal, complete KYC, and receive payouts quickly.
👉 This move gives millions of FTX customers more flexibility to claim their funds.
⚡️ If you’re an FTX creditor — check your portal NOW. Choose the option that works best for you.
👉 Payoneer = smooth bank transfers
👉 Kraken/BitGo = crypto payouts

$BTC

The head of FTX founder Sam Bankman-Fried's (SBF) legal team, David Mills, admitted that the chances of winning the fraud lawsuit were virtually nil. He spoke about this in an interview with Bloomberg .“It’s almost impossible to win a case when three or four co-founders are accusing you. Even if they are all lying through their teeth, it is really very difficult to win in this case,” the lawyer explained.Mills knew that Bankman-Fried would face at least three important witnesses: Alameda CEO Caroline Ellison , FTX co-founder Gary Wang , and the exchange's head of engineering Nishad Singh . The lawyer said SBF "went off script" when he testified before the jury during the trial. However, he had no other choice after the statements of his former colleagues, the defense lawyer admitted. At the same time, Mills described Bankman-Fried as "the worst person I've ever seen under cross-examination." During the procedure, the former head of FTX unsuccessfully tried to refute several incriminating statements, only convincing the jury of his guilt, the lawyer clarified. The lawyer also said that he agreed to defend Bankman-Fried at the request of his parents. Mills was probably a friend of Joseph Bankman and Barbara Freed and worked for free.At the end of the interview, he added that he would no longer take on the affairs of close people:“I don’t intend to get emotionally involved in a case like this again on a very deep personal level.”On November 2, SBF was found guilty of seven counts of money laundering, fraud and conspiracy and faces a maximum penalty of 115 years in prison. Sentencing is scheduled for March 28, and his lawyers are expected to appeal.The founder of FTX was taken into custody in Brooklyn Prison (New York). According to the WSJ, he shared a cell with former Honduran President Juan Hernandez and gave advice to guards about investing in cryptocurrency.Let's remember that in December, blogger Tiffany Fong interviewed former mafioso Gene Borrello, who was sitting with Bankman-Fried. He said SBF was initially "out of its element" and was targeted for attacks due to its timid nature and "80-year-old body." #FTXRevival #ftx #BinanceTournament #cryptonews #crypto2023

FTX, the embattled cryptocurrency exchange, is set to distribute $16 billion in cash to approved debt holders as part of its Chapter 11 restructuring plan. The distribution, which will officially take effect on January 3, 2025, marks a significant milestone in the company’s efforts to repay its creditors.
Background on the Restructuring Plan
On December 17, FTX and its associated debtors announced that the court-approved restructuring plan would take effect on January 3, 2025. The plan includes a first round of distribution, which will be available to approved debt holders in the Convenience Classes within 60 days of the effective date.
Eligibility Requirements for the First Round of Allocation
To qualify for the first round of allocation, users must complete the following steps before January 3, 2025:
* Log in to the FTX Debtor Client Portal
* Complete KYC identity verification
* Submit necessary tax forms
* Complete registration with BitGo or Kraken, FTX’s partners in providing asset allocation services to retail and institutional clients.
Partnership with BitGo and Kraken
FTX has reached an agreement with cryptocurrency custodian BitGo and trading platform Kraken to provide asset allocation services to its clients. This partnership is expected to facilitate the distribution process and provide a secure and reliable platform for users to access their allocated assets.
#ftx $BTC