Ripple Singapore Claims FTX Assets in Bankruptcy Case
In a significant legal development within the ongoing bankruptcy case of defunct crypto exchange FTX, Ripple, the blockchain payment company, has emerged victorious with a claim on FTX assets. The filing with the United States Bankruptcy Court for the District of Delaware reveals that the debtors involved in the case have revised the proposed form of order to address the informal comments submitted by Ripple Labs. The revised order, which has received no objections from Ripple Labs, the Office of the United States Trustee, or the Official Committee of Unsecured Creditors, is now awaiting the court’s approval.
Ripple Singapore Asserts Rights To FTX Assets
The filing emphasizes that the order and any subsequent actions or payments made by the debtors should not be interpreted as an admission of the validity, amount, or basis of any claim against them under bankruptcy or non-bankruptcy law. Furthermore, the order should not be seen as a waiver of the debtors’ or any other party’s right to dispute claims, a promise or requirement to pay specific claims, or an admission regarding the nature of any particular claim.
The filing also includes a list of claims to be disallowed, alongside surviving claims, which provides insight into the parties and amounts involved in the bankruptcy case.
Singapore Arm Secures $11.4 Million Claim On FTX Assets
Ripple Labs Singapore Pte. Ltd. has made an impressive claim amounting to $11,403,976.90 on FTX’s assets. This success for Ripple represents a significant milestone for the company amidst its ongoing dispute with the Securities and Exchange Commission (SEC). By asserting their rights in the bankruptcy case, Ripple Singapore has positioned itself as a relevant party and stands to potentially benefit from FTX’s asset allocation.
Stakeholders will closely monitor the court’s review of the revised order and the deliberation on various claims to assess the potential impact on Ripple’s financial position and future operations.
XRP Price and Market Performance
According to data provided by CoinGecko, XRP is currently valued at $0.638416, with a 2.40% increase in the past 24 hours. Over the past week, XRP has experienced a 6.10% price rise. The cryptocurrency has attracted strong investor interest, reflected in its 24-hour trading volume of $1,792,104,137.87. With a market capitalization of $34,549,510,806, XRP remains one of the most valued cryptocurrencies in the market.
Hot Take: Ripple Claims FTX Assets in Bankruptcy Case Victory
Ripple’s successful claim on FTX assets in the bankruptcy case marks an important win for the company amidst its ongoing legal battles. By securing their rights and positioning themselves as a relevant party, Ripple Singapore stands to potentially benefit from the allocation of FTX’s assets. This development will be closely watched by stakeholders as it may impact Ripple’s financial position and future operations. Additionally, XRP’s positive market performance further reinforces its position as one of the leading cryptocurrencies in terms of value and investor interest.
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