An FTX customer is suing hedge fund Olympus Peak, alleging the firm owes him additional recovery after he sold his claims in the collapsed trading platform.
Nikolas Gierczyk, an FTX user from California, reportedly sued the hedge fund Olympus Peak, claiming the company could gain more than $1 million from their deal. Gierczyk alleges the hedge fund failed to honor a right to further recovery he had negotiated in their agreement.
According to a Bloomberg report, Gierczyk sold his $1.59 million claim against FTX to the hedge fund at a 42% discount, receiving a $930,000 payout. However, with FTX’s reorganization plan approved, customers are now expected to receive 129% to 146% of their claims.
Harris beats Biden, lags Trump on crypto policy — Galaxy Research
United States presidential candidate Kamala Harris is friendlier toward cryptocurrency than her boss, President Joe Biden, but not nearly as pro-industry as rival Donald Trump, Galaxy Research said on Oct. 14.
Harris promises to meaningfully improve the regulatory environment for US crypto firms, but she holds unfavorable positions on other relevant issues, such as taxes, Bitcoin BTC
$65,435 mining and self-custody, according to a post by Alex Thorn, Galaxy’s research head, on the X platform.
“While trump is undoubtedly more favorable for the industry, we’re optimistic that harris could be more supportive than biden has been,” Thorn said.
According to Galaxy, Harris remains “extremely hostile” to the industry on taxes. Her plans include “rolling back Trump’s tax cuts,” likely resulting in higher capital gains taxes for crypto holders, Galaxy said.
