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FTX is set to begin repaying its creditors on May 30, marking a significant step in resolving its lengthy bankruptcy process. The repayments come after 27 months of legal proceedings following the exchange’s dramatic collapse in November 2022. According to court filings, the distribution will prioritize customers and creditors based on an approved restructuring plan. While the exact payout amounts …

Sonic Labs has announced a shift from its dollar-pegged algorithmic stablecoin to a version backed by the UAE dirham (AED), signaling a strategic move in response to evolving market conditions and regional demand. The decision comes amid growing interest in non-USD stablecoins, particularly in emerging markets where local currency-backed digital assets can enhance financial accessibility and reduce reliance on the …

Metaplanet, a Japan-based investment firm, has issued $13 million worth of zero-interest bonds to expand its Bitcoin holdings. The move highlights the company’s aggressive strategy to increase its exposure to the digital asset while leveraging innovative financing methods. The zero-interest bonds, which do not carry traditional interest payments, provide Metaplanet with capital at minimal cost. This allows the firm to …

A South Korean court has sentenced three individuals for their involvement in a large-scale cryptocurrency scam, highlighting the country’s crackdown on fraudulent digital asset schemes. The convicted members were found guilty of defrauding investors through deceptive crypto investment promises. According to court documents, the scam involved luring victims with the promise of high returns on cryptocurrency investments. The perpetrators used …

Bitcoin mining firm Marathon Digital Holdings (MARA) has announced plans to raise up to $2 billion through a stock sale, aiming to increase its Bitcoin holdings and invest in new mining infrastructure. The move underscores the company’s commitment to scaling operations amid growing competition in the industry. According to filings with the U.S. Securities and Exchange Commission (SEC), MARA intends …