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FTX to Begin Distributing Over $5B in Stablecoins to Creditors on May 30: What Percentage Will Flow Back to Crypto Markets?

May 30th marks a pivotal moment in the FTX bankruptcy saga as the FTX Recovery Trust officially begins distributing over $5 billion in stablecoins to creditors. This represents the second major payout in the Chapter 11 reorganization plan, following the $1.2 billion distribution in February.

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Cetus Protocol Hacker Converts $60 Million to Ethereum After $223 Million DeFi Exploit

The decentralized finance (DeFi) ecosystem has been shaken by another significant security incident, with Cetus Protocol falling victim to a sophisticated hack that resulted in losses exceeding $223 million. In a concerning development, the attackers have already begun converting their ill-gotten gains, purchasing approximately $60 million worth of Ethereum (ETH) with the stolen funds.

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