Dear Readers,

No one can never forget the crash of FTX in the crypto industry in 2022.

We have all witnessed the aftermath of the FTX fall that reflect in the crypto industry and we know how much time did take the industry to come to normalcy and the aftermath effects.

Many investors were so eager to get their investments back from FTX. 

A lawyer for FTX recently said that the bankrupt cryptocurrency exchange’s estate expects to repay customers in full. This seems to be a very good news for the customers of FTX. 

Very recently, the FTX founder Sam Bankman-Fried's photo in the prison went viral over the internet. 

We have been tracking this development so closely.

We have already covered through an article that FTX decided to settle for the investors on 18 December 2023. Those who have missed it can access the information here. 

In an effort to settle the debts, FTX is on the move to sell its European counterpart to a tune of 32.7 million USD. 

Earlier the bankrupt crypto exchange FTX has settled a lawsuit that sought to claw back $323 million that it had spent acquiring a European startup. As no one was there to buy it back other than the DA AG founders, it is decided to sell it to 32.7 million USD. 

It should be remembered that FTX had sued Digital Assets DA AG’s founders, which were accusing them of a “massive overpayment” in the 2021 acquisition, utilizing a large portion FTX customer funds.

Facing all the counterclaims from DA AG founders Patrick Gruhn and Robin Matzke, FTX deemed a settlement would be the best solution.

The litigation process would be prolonged and costly as the key witnesses that includes the FTX founder Sam Bankman-Fried unavailable due to fraud convictions.

However it will be a good news for the crypto eco system.