The Weekly Grind (Sep 7–Sep 14): FTX Creditors Get 120% Back, AI Slashes Bitcoin Crack Costs
FTX creditors recoup more than expected; AI cuts Bitcoin crack costs by 86%. Big week for crypto.
FTX creditors recoup more than expected; AI cuts Bitcoin crack costs by 86%. Big week for crypto.
Sam Bankman-Fried's cert petition argues FTX was 'temporarily illiquid,' not fraudulent — and that the jury never got to hear customers would be made whole. He's also calling the $11 billion forfeiture an unconstitutional excessive fine. The Court grants about 1% of petitions.
FTX set June 16, 2026 as the record date for its fifth creditor payout round. If you haven't completed KYC with BitGo, Kraken, or Payoneer, you're off the list until next time. The exchange has already returned more than $9 billion. It's not done.
The Second Circuit unanimously rejected Sam Bankman-Fried's final appeal on June 12, locking in his 25-year sentence. His projected release date is 2044. Trump already said no to a pardon.
The CFTC settled with Nishad Singh — FTX's ex-engineering chief who built the backdoor that let Alameda silently drain billions in customer funds. The case is closed. The industry can stop looking over its shoulder. Almost.