President Trump’s media company has been given the green light by the U.S. Securities and Exchange Commission (SEC) to invest its treasury holdings in Bitcoin (BTC).

In a press release, Trump Media says its previous registration filing with the SEC has been declared effective by the regulator on June 13th, allowing the company to move forward with a prospectus.

Trump Media previously filed with the SEC to adopt a Bitcoin treasury because it views BTC as an “apex instrument of financial freedom.”

Devin Nunes, Trump Media’s CEO and President, said that investing in BTC would “help defend our Company against harassment and discrimination by financial institutions, which plague many Americans and US firms.”

A BTC treasury would also be useful for subscription payments, a utility token and other planned transactions across the company’s subsidiaries – Truth Social and Truth+ – according to Nunes.

Says Nunes,

“We’re aggressively implementing our plans to expand the Company, our offerings, and our capabilities. By simultaneously enhancing and growing our social media platform, TV streaming platform, and our FinTech brand while establishing a Bitcoin treasury, we aim to continue rapidly transforming Trump Media into an indispensable company for the expanding customer base of the Patriot Economy.”

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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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Millions of T-mobile customers affected by a massive hack and data breach are beginning to receive their share of a $350 million class action settlement.

According to the settlement administrator, the distribution of settlement payments has now begun and will continue over the next several weeks.

The 2021 cyberattack compromised the personal data of a staggering 76 million US customers, exposing names, addresses, Social Security numbers, and other sensitive information.

T-Mobile agreed to the settlement in July of 2022 to resolve claims from the August 2021 breach.

Customers eligible for payments will receive a digital deposit or paper check based on their selection during the claim process, with amounts ranging from $25 to $100, with some eligible for up to $25,000 for substantial documented losses.

The settlement also includes two years of free identity protection services for affected customers.

The breach, one of the largest in U.S. history, prompted lawsuits accusing T-Mobile of failing to secure customer data.

T-Mobile says it has since enhanced its cybersecurity protocols to prevent future incidents, and the company did not admit to any wrongdoing in the settlement.

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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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Creditors of the defunct crypto exchange FTX have begun receiving their initial payouts in their Kraken accounts, marking a major milestone in the company’s ongoing bankruptcy proceedings.

Claimants with approved amounts under $50,000 are receiving full reimbursements, plus 9% annual interest accrued since FTX filed for Chapter 11 bankruptcy in November 2022.

Screenshots shared online show that some creditors received amounts exceeding their original claims, reflecting interest accumulated over more than two years.

Initial disbursements

Blockchain analytics firm Arkham Intelligence confirmed significant outflows from FTX-controlled wallets, estimating that around $1.2 billion is being distributed in this first phase.

According to the court-approved bankruptcy plan, creditors in this category will receive approximately 119% of their adjudicated claim value.

Larger creditors — those with claims exceeding $50,000 — are set to begin receiving payments in the second quarter of 2025, with roughly $16 billion earmarked for total distributions.

The repayments, made in US dollars, are being facilitated through BitGo and Kraken. Some recipients noted that Kraken provided trading fee credits in addition to the deposits, a move seen as a way to ensure smooth fund distribution without the exchange profiting from the process.

Collapse and repayment efforts

FTX imploded in November 2022 following revelations of widespread financial mismanagement, missing customer funds, and alleged fraud orchestrated by its leadership.

The company’s downfall left billions in assets frozen, triggering a complex legal battle that culminated in the criminal conviction of founder Sam Bankman-Fried in 2023.

Since then, the bankruptcy process has focused on asset recovery and creditor repayment, with FTX’s estate liquidating holdings, selling assets, and reaching settlements to amass funds for distributions.

Legal filings suggest that the estate recovered more assets than initially anticipated, allowing it to fully compensate smaller creditors and provide significant returns to larger claimants.

While the current distributions mark a step forward, some creditors have expressed frustration over the repayment timeline, particularly those with claims above the $50,000 threshold who must wait months for their share of the $16 billion in remaining funds.

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