FTX Begins Returning Funds to Some Customers, Next Round of Payouts Set for April

Customers of bankrupt exchange FTX are beginning to receive their funds, with those claiming up to $50,000 expected to see payments within the next few days. The next round of distributions is scheduled for April 11. FTX’s bankruptcy plan, approved in October 2024, ensures that 98% of creditors will receive at least 118% of their claims in cash. Some creditors, including Sunil Kavuri, have criticized the plan for not paying out in cryptocurrency. Meanwhile, former FTX CEO Sam Bankman-Fried is serving a nearly 25-year prison sentence for fraud.

Scammer Used AI Deepfakes to Sell Fake FTX Claims, Stole $5.6M

A fraudster allegedly used AI-powered face-swapping technology to deceive companies into purchasing fake FTX liquidation claims, stealing at least $5.6 million. According to an Inca Digital investigation, the scammer presented real claim data—potentially sourced from data breaches—along with falsified identification and addresses. The stolen funds were quickly laundered through non-U.S. exchanges, including Binance. Experts warn that similar scams may increase as FTX payouts begin and crypto markets surge under the Trump administration.

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Hayden Davis Claimed to Control Milei Through Payments to President’s Sister Amid Crypto Scandal

Hayden Davis, CEO of Kelsier Ventures, allegedly claimed in text messages that he could control Argentine President Javier Milei by making payments to Milei’s sister, Karina, a key government figure. Davis boasted that Milei would sign whatever he wanted, though it is unclear if any money was exchanged before the controversial launch of the Libra memecoin. Davis and his firm reportedly profited over $100 million before Libra crashed by 95%. The scandal, dubbed “critpogate,” has sparked calls for Milei’s impeachment and rattled Argentina’s stock market.

SEC Acknowledges Bitwise Spot XRP ETF Filing, Approval Decision Pending

The U.S. SEC has acknowledged a spot XRP ETF filing from Cboe BZX Exchange on behalf of Bitwise, initiating the next step in the approval process. The agency is seeking public comments within 21 days before making a decision. This follows previous filings from 21Shares and Grayscale, while Canary Capital and WisdomTree await acknowledgment. With a crypto-friendly administration in office and a new SEC task force focused on crypto assets, Bloomberg analysts estimate a 65% chance of approval for an XRP ETF. XRP currently trades at around $2.52.

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Tether Co-Founder Reeve Collins Launches Pi Protocol to Compete in Stablecoin Market

Reeve Collins, co-founder of Tether, is launching a new decentralized stablecoin through Pi Protocol, a project set to debut on Ethereum and Solana later this year. The protocol will introduce USP, a stablecoin backed by real-world assets, minted via smart contracts in exchange for yield-bearing USI tokens. With stablecoins surpassing $225 billion in circulation, Pi Protocol aims to challenge dominant players like Tether’s USDT and Circle’s USDC in an increasingly competitive market.