Miller Thomson, the law firm representing users of QuadrigaCX, has announced that interim distribution of funds tied to bankruptcy proceedings will be scheduled in the coming weeks. The trustee will post a Notice to Affected Users regarding details about the manner and procedure of the distribution. However, a small number of affected users are expected to receive a Notice of Disallowance of Claim, which means that the creditor's claim has been revised or disallowed in the bankruptcy process. QuadrigaCX became insolvent in February 2019, and since then, bankruptcy trustee Ernest & Young has recovered $34.3 million worth of assets.

FTX, a bankrupt crypto exchange, missed out on the potential to own billions of dollars worth of SUI tokens after selling its token warrants too early. FTX sold 890 million SUI token warrants, which would have allowed the company to get 890,000,000 SUI upon launch. The SUI token rose to over $3 before dropping in value, and at current prices, FTX's SUI tokens would have been worth around $1 billion.

Voyager Digital, the now-defunct crypto lender, has informed creditors that they can expect to receive their initial cash and crypto distributions "within the next few weeks." This update comes after Binance's withdrawal from the Voyager Digital deal on April 25. Voyager Digital has been navigating the bankruptcy process in the Southern District of New York to reimburse creditors after Binance US backed out of the deal. Voyager Digital says that it is making progress and is finalizing everything internally to make distributions to creditors. However, parties will have ten full days to object to the plan, and if an objection is filed, the court will hold a hearing to consider the objection before the plan can go into effect. The news of Voyager Digital's plan to reimburse creditors has been met with mixed reactions.

The Voyager Official Committee of Unsecured Creditors has announced that they are in the final stages of finalizing Liquidation Procedures.

Creditors of Celsius Network are seeking permission from a bankruptcy judge to issue subpoenas to FTX, as they suspect that some FTX users may have engaged in suspicious trades that manipulated the price of Celsius' CEL token between April and August 2022. The creditors believe that the information from FTX will help them determine whether the trades were legitimate or constituted market manipulation. The committee representing Celsius Network's creditors has requested information on users associated with ten cryptocurrency wallets allegedly involved in suspicious trades and any short positions taken on CEL. The information is crucial in determining whether the trades involving CEL were intended to inflate its price artificially and could be critical to resolving a dispute related to Celsius' bankruptcy. Meanwhile, FTX has entered into a purchase agreement to sell LedgerX, its futures and options exchange and clearinghouse, for approximately $50 million.

Bankruptcy lawyers representing FTX have agreed to sell LedgerX, a cryptocurrency derivatives trading platform, to M7 Holdings. The affiliate of Miami International Holdings is paying $50m for the platform, which came under the FTX banner in August 2021 when FTX.US acquired it.

Voyager said April 25 that Binance.US no longer intends to go through with the purchase of its assets.

South Korea is reportedly moving closer to launching a central bank digital currency (CBDC), with a new draft law set to create legal terminology for CBDCs.

A group of Genesis Capital's creditors has rejected the restructuring deal agreed in February, leading parent company Digital Currency Group (DCG) to say that the bankruptcy process will be prolonged. Genesis Capital filed for bankruptcy protection in January after being hit by the collapses of hedge fund Three Arrows Capital and crypto exchange FTX. Reports suggest that the February agreement included proposals to wind down the Genesis loan book and sell the company's bankrupt entities. Genesis owes over $3.6 billion to its top 50 creditors, including claims from Gemini, founded by the Winklevoss twins. DCG said it remains committed to reaching a fair outcome for all.

Five months after the spectacular implosion of FTX, the Bahamas-based exchange’s new legal team has a message for both the U.S. bankruptcy court and creditors alike: “The situation has been stabilized and the dumpster fire is out.”