FTX, a defunct cryptocurrency exchange, has taken legal action against NFT Stars Limited and Kurosemi Inc., operators of the Delysium platform, in an effort to recover assets for creditor payouts. Despite unsuccessful non-litigation negotiations, FTX has initiated lawsuits due to the companies' alleged failure to deliver tokens as per contractual agreements. The exchange is also pursuing other token issuers for asset recovery and warns of further legal action against non-cooperative parties. FTX recently began distributing recovered funds to approved claim holders and plans a second round of payments in May. However, challenges persist, such as a significant increase in Three Arrows Capital's claim against FTX. This development underscores the need for regulatory measures like the PROOF Act, proposed by US Senators to mitigate risks in the crypto industry by ensuring transparency and consumer protection. Read more AI-generated news on: https://app.chaingpt.org/news

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