Receive – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Thu, 24 Jul 2025 02:27:23 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.7 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 Receive – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 FTX creditors to receive next round of payouts by Sept 30 https://earlybirdsinvest.com/ftx-creditors-to-receive-next-round-of-payouts-by-sept-30/ https://earlybirdsinvest.com/ftx-creditors-to-receive-next-round-of-payouts-by-sept-30/#respond Thu, 24 Jul 2025 02:27:22 +0000 https://earlybirdsinvest.com/ftx-creditors-to-receive-next-round-of-payouts-by-sept-30/

The FTX Recovery Trust has set Aug. 15 as the record date for its next distribution to creditors, with payments expected to begin around Sept. 30, according to a statement released on July 23. 

The window covers holders of allowed Class 5 Customer Entitlement Claims and Class 6 General Unsecured Claims under the confirmed plan, along with Convenience Claims that became allowed after earlier cutoffs and have not yet been paid.

Additional funds for upcoming round

The estate also received court approval to reduce its disputed claims reserve by $1.9 billion, bringing it from $6.5 billion to $ 4.6 billion. The move frees additional cash for the upcoming round, which BitGo, Kraken, and Payoneer will administer. 

According to the statement, only creditors who have cleared all pre-distribution requirements will receive funds.

FTX reminded claimants that once the estate transfers money to their chosen provider, account access and support fall to that platform. Creditors must finish Know Your Customer checks, submit tax forms, and complete onboarding before disbursements are made.

Transfers of claims remain subject to strict timing. Distributions will flow only to transferees whose assignments are processed and reflected on the official claims register by the August 15 record date, after the 21-day objection period expires without challenge. 

Continuing the payouts

The schedule marks the latest major payout milestone since the exchange collapsed in late 2022, and follows months of reconciliation, asset sales, and litigation over who is owed what. 

On May 30, creditors received nearly $5 billion in repayments, marking the second round of repayments that began on February 18. 

The round addressed creditors with claims valued at $50,000 or less, with 9% annual interest accrued since the bankruptcy filing in November 2022

The statement highlighted that the FTX Trust does not require potential creditors to connect wallets to verify eligibility or receive reimbursements.

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]]> https://earlybirdsinvest.com/ftx-creditors-to-receive-next-round-of-payouts-by-sept-30/feed/ 0 49326 Google Ordered To Pay $314,600,000 To Android Users After Allegedly Transferring Data Without Permission – Here’s Who Will Receive The Payout https://earlybirdsinvest.com/google-ordered-to-pay-314600000-to-android-users-after-allegedly-transferring-data-without-permission-heres-who-will-receive-the-payout/ https://earlybirdsinvest.com/google-ordered-to-pay-314600000-to-android-users-after-allegedly-transferring-data-without-permission-heres-who-will-receive-the-payout/#respond Sat, 05 Jul 2025 13:46:17 +0000 https://earlybirdsinvest.com/google-ordered-to-pay-314600000-to-android-users-after-allegedly-transferring-data-without-permission-heres-who-will-receive-the-payout/

About 14 million Android users are set to receive a massive $314.6 million payout from Google, after a jury declared the company wrongfully transferred customer data without permission.

A jury in California has found the tech giant must pay damages for transferring data from idle Android smartphones without permission, reports Reuters.

Google says it will appeal the decision, which the lawsuit claimed triggered “mandatory and unavoidable burdens shouldered by Android device users for Google’s benefit.”

The jury found the data transfers violated California’s privacy laws, and the money will be handed exclusively to users in the state.

According to the lawsuit, which was initiated in 2019, the company used customers’ cellular data to transfer information that was used for things like targeted advertising.

In court, Google argued that the transfers were fully legal and covered by the company’s privacy policies and terms of service, and no users were harmed in any way.

After the verdict was announced, Google spokesperson Jose Castaneda said the jury’s decision “misunderstands services that are critical to the security, performance, and reliability of Android devices.”

Google is also facing a lawsuit on the transfers that represent customers in the rest of the country, which is set to start in the first half of next year.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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]]> https://earlybirdsinvest.com/google-ordered-to-pay-314600000-to-android-users-after-allegedly-transferring-data-without-permission-heres-who-will-receive-the-payout/feed/ 0 45917 FTX Creditors Receive 120% Payouts on Small Claims, Partial on Large Claims https://earlybirdsinvest.com/ftx-creditors-receive-120-payouts-on-small-claims-partial-on-large-claims/ https://earlybirdsinvest.com/ftx-creditors-receive-120-payouts-on-small-claims-partial-on-large-claims/#respond Wed, 02 Jul 2025 02:23:33 +0000 https://earlybirdsinvest.com/ftx-creditors-receive-120-payouts-on-small-claims-partial-on-large-claims/

FTX’s creditor repayments are progressing almost three years after its collapse. New details have emerged, which reveal that smaller claims are receiving 120% payouts and larger ones are paid 72.5% so far.

Additional distributions are planned through 2027, which aim to complete full recoveries for larger creditors.

FTX Payout Progress

Sunil Kavuri, the FTX creditor activist, revealed that claims under $50,000 received 120% payouts in February and May 2025, allowing smaller creditors to recover beyond their initial claims.

In his latest post on X, Kavuri explained that for claims over $50,000, creditors received a 72.5% payout in May. The remaining 27.5% expected in additional distributions planned for October and December 2026, and into 2027, which will bring total recovery on larger claims to 100% of face value.

Kavuri added that post-petition interest returns are estimated to range between 40% and 80%.

BitGo and Kraken were the two custodians overseeing the distribution process. These payments are being made under a Chapter 11 plan, which was approved by a bankruptcy judge in Delaware last year.

FTX, FTX.US, Alameda Research, and more than 100 affiliated companies sought bankruptcy protection in Delaware on November 11, 2022. After the bankruptcy filing, Sam Bankman-Fried resigned as CEO, and corporate restructuring expert John J. Ray III was appointed to lead the company. The latter had previously handled Enron’s collapse.

Bankman-Fried received a 25-year sentence for defrauding customers and investors. Meanwhile, former Alameda Research CEO Caroline Ellison was sentenced to two years in federal prison.

Beyond the criminal convictions of its top executives, the collapse also sparked lawsuits against celebrities and influencers who had endorsed the platform.

Celebrities Largely Cleared in FTX Lawsuits

In May, a US court dismissed the bulk of lawsuits brought against several celebrities and YouTubers who endorsed the crypto exchange before its collapse. Among those who benefited from the dismissal are Tom Brady, Gisele Bündchen, Kevin O’Leary, and Stephen Curry.

The same cannot be said for Shaquille O’Neal. The NBA legend agreed to pay $1.8 million to settle a class-action lawsuit from investors of FTX, who alleged he misled them through his appearances in exchange advertisements. This payout is more than the $750,000 O’Neal reportedly received for the commercial.

O’Neal claimed that he was only a paid actor, and would avoid admitting wrongdoing, and would also be barred from seeking reimbursement from the exchange’s bankruptcy estate if the court approves the settlement.

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]]> https://earlybirdsinvest.com/ftx-creditors-receive-120-payouts-on-small-claims-partial-on-large-claims/feed/ 0 45268 $20,000,000 Payout To Data Breach Victims Incoming, With 5,000,000+ People Set To Receive Settlement Share https://earlybirdsinvest.com/20000000-payout-to-data-breach-victims-incoming-with-5000000-people-set-to-receive-settlement-share/ https://earlybirdsinvest.com/20000000-payout-to-data-breach-victims-incoming-with-5000000-people-set-to-receive-settlement-share/#respond Sat, 31 May 2025 15:59:01 +0000 https://earlybirdsinvest.com/20000000-payout-to-data-breach-victims-incoming-with-5000000-people-set-to-receive-settlement-share/

Victims of a massive data breach are set to receive their share of a multi-million dollar settlement after a court preliminarily approved the deal.

According to the settlement portal, $20 million will be shared among more than five million affected users of the cybersecurity firm Fortra’s file transfer platform.

The impacted data includes “names, addresses, dates of birth, member identification numbers, telephone numbers, employer names, Social Security numbers, start and end dates of health plan coverage, and health insurance information.”

The lawsuit was filed against Fortra, as well as rail service provider Brightline, healthcare firms Aetna, Community Health, Elevance Health, Fortra, Imagine360, Intellihartx, NationsBenefits and Santa Clara Family Health Plan.

Class members who provide “reasonable documentation for losses” of the 2023 data breach will receive up to $5,000. In the absence of documentation proving the extent of the losses they suffered as a result of the data breach, class members will receive around $85.

Claims must be submitted by August 29th. Besides the cash payment, class members are also eligible to receive dark web monitoring services for one year to mitigate the risks of potential identity theft and fraud.

The payments will be made once the court gives the class action settlement final approval. A final approval hearing of the lawsuit settlement terms will be held in mid-September.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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]]> https://earlybirdsinvest.com/20000000-payout-to-data-breach-victims-incoming-with-5000000-people-set-to-receive-settlement-share/feed/ 0 39363 FTX Creditors to Receive Over $5B Starting May 30 https://earlybirdsinvest.com/ftx-creditors-to-receive-over-5b-starting-may-30/ https://earlybirdsinvest.com/ftx-creditors-to-receive-over-5b-starting-may-30/#respond Sat, 17 May 2025 00:46:33 +0000 https://earlybirdsinvest.com/ftx-creditors-to-receive-over-5b-starting-may-30/

The FTX Recovery Trust has announced it will begin disbursing more than $5 billion to creditors from May 30.

This payment round marks the second distribution to eligible parties as the firm continues its efforts to reimburse those affected by its collapse.

Repayment Efforts

In a May 15 release, the company’s bankruptcy estate categorized creditors into five “convenience classes” with specified payout rates. Members of creditors Class 5A will receive a 72% distribution, while Class 5B will be paid 54%.

Classes 6A and 6B, comprised of small lenders and Alameda Research trading partners, are each set for 61% distributions. Finally, Class 7 Convenience Claims will receive 120%.

John J. Ray III described the upcoming payments as a major development, stating:

“These first non-convenience class distributions are an important milestone for FTX. The scope and magnitude of the FTX creditor base makes this an unprecedented distribution process.”

He added that the announcement demonstrated the strong results of the team’s recovery and coordination efforts and emphasized that their focus remained on maximizing returns for creditors and addressing unresolved claims.

Eligible creditors are expected to receive their funds through their selected distribution service provider, either Bitgo or Kraken, within one to three business days after May 30. However, customers who onboard with a Distribution Service Provider will forfeit the right to receive cash directly from the bankrupt exchange, with all funds sent through their chosen provider instead.

The FTX Recovery Trust also said that the repayment schedule for upcoming creditor classes will be announced in due course. If all claims are filed, total repayments could reach up to $16.5 billion.

Separately, the FTX bankruptcy estate initiated legal proceedings in April against NFT Stars Limited and Delysium. The lawsuits aim to recover digital assets allegedly withheld from the estate and are part of the company’s efforts to reclaim funds and maximize recoveries following its November 2022 collapse.

Criticism Over Valuation Method

FTX currently has about $11.4 billion allocated for creditor repayments. The first round of reimbursements began on February 18, 2025, directed at creditors with “convenience claims” under $50,000. Approximately $1.2 billion was paid out in that phase.

The second distribution phase will now target those with requests exceeding that amount. These include major investors and institutions that held millions in crypto on the platform.

Despite progress, the repayment model has faced criticism for calculating reimbursements based on crypto values at the time of the bankruptcy filing. This has led to some creditors receiving less than the current market value of their holdings.

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]]> https://earlybirdsinvest.com/ftx-creditors-to-receive-over-5b-starting-may-30/feed/ 0 36645 7,605 Bank Customers Receive Urgent Data Breach Alerts After ‘Administrative Error’ Exposes Social Security Numbers, Names and Account Details https://earlybirdsinvest.com/7605-bank-customers-receive-urgent-data-breach-alerts-after-administrative-error-exposes-social-security-numbers-names-and-account-details/ https://earlybirdsinvest.com/7605-bank-customers-receive-urgent-data-breach-alerts-after-administrative-error-exposes-social-security-numbers-names-and-account-details/#respond Sat, 26 Apr 2025 01:39:41 +0000 https://earlybirdsinvest.com/7605-bank-customers-receive-urgent-data-breach-alerts-after-administrative-error-exposes-social-security-numbers-names-and-account-details/

A US bank is warning thousands of customers that their sensitive information may be at risk following an “administrative error.”

In a new filing with the Office of the Maine Attorney General, Bluestone Bank says an error in late February led to the unauthorized disclosure of personal data belonging to 7,605 customers.

According to the Bridgewater, Massachusetts-headquartered bank, personal and confidential information belonging to its customers was inadvertently sent to an unintended recipient on February 28th of this year.

“The personal information that may have been accessed includes the data we have on file for you, such as your name, address, social security number, and account number(s).”

Bluestone Bank says it has taken various steps to minimize the risk of potential harm to customers.

“The individual who received the information has signed a Certificate of Destruction, confirming that all information was promptly and securely destroyed and no information was retained…

We have further addressed this incident by reinforcing proper data handling procedures and mandating retraining on the appropriate management of customer data. In addition, we have evaluated and enhanced our existing protocols and controls to ensure this will not happen again.”

To prevent possible misuse of personal information following the incident, Bluestone Bank is offering its customers a complimentary membership to an identity-monitoring service for one and a half years.

Customers also have the choice of closing and reopening their bank accounts as a safety precaution.

Bluestone Bank had $1.5 billion in total assets as of November of 2024.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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