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Cryptocurrency exchange FTX has disqualified approximately 392,000 customer claims after users failed to verify their identities by the March 3 deadline, potentially nullifying claims exceeding $2.5 billion. This action affects a substantial portion of creditors seeking restitution following FTX’s collapse in November 2022.

FTX creditor advocate Sunil Kavuri estimates that claims under $50,000, totaling around $655 million, and larger claims amounting to approximately $1.9 billion are subject to disqualification due to Know Your Customer violations. The KYC process, a standard compliance measure in the financial industry, requires users to provide personal identification information to prevent fraud and money laundering.

FTX’s bankruptcy proceedings have been complex and protracted. In October 2024, U.S. Bankruptcy Judge John Dorsey approved the company’s wind-down plan, allowing FTX to utilize up to $16.5 billion in recovered assets to fully repay customers. The plan prioritized customers with claims of $50,000 or less, aiming to reimburse 98% of such claimants within 60 days of the plan’s effective date.

The repayment process commenced on February 18, 2025, targeting the “convenience class” of creditors with claims under $50,000. Distributions were facilitated through cryptocurrency firms Kraken and BitGo, with customers expected to receive funds within one to three business days. FTX Recovery Trust Plan Administrator John J. Ray III acknowledged the significance of this milestone but emphasized the ongoing nature of recovery efforts.

The next phase of repayments is scheduled to begin on May 30, 2025, addressing larger claims exceeding $50,000. FTX has amassed an $11.4 billion cash reserve to fund these payments. Bankruptcy attorney Andrew Dietderich informed the court that while minor creditors have started receiving payments, the first distribution to major debt holders is set for late May.

Despite these efforts, some creditors have expressed dissatisfaction with the repayment terms. Concerns have been raised about reimbursements being based on cryptocurrency valuations from November 2022, when prices were significantly lower. For instance, Bitcoin was trading at approximately $16,000 during that period, compared to its current value exceeding $100,000. This discrepancy means that creditors might receive only 10–25% of their crypto’s current value.

KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 5 April 2025 – Octa, a global broker since 2011, recently received the FXDailyInfo award as ‘The Most Innovative Broker 2025’. This accolade yet again highlights Octa’s focus on incrementally improving its proprietary trading platform, OctaTrader. Financial portal FXDailyInfo recognised Octa as ‘The Most Innovative Broker 2025’. With this award under its belt, Octa broker has already gained 10 […]

KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 3 April 2025 – Understanding the rhythm of financial markets can give traders a significant edge. Seasonalities—lasting trends that repeat themselves during some periods of the year—tend to influence the value of assets and the overall market state. Identifying these cycles allows traders to adapt their strategies better and make more informed decisions. In this material, experts at global […]

MACAU SAR – Media OutReach Newswire – 3 April 2025 – Galaxy Macau™, the world-class luxury integrated resort (hereinafter referred to as “Galaxy Macau”), offers diverse cultural experiences year-round, creating unparalleled journeys for guests from around the globe. In honor of the Songkran Festival, the traditional Thai New Year celebration, Banyan Tree Macau at Galaxy Macau will present a series of star-studded Thai culinary delights and rejuvenating […]

Featuring the revolutionary Odyssey 3D, the updated Odyssey OLED G8 with the industry’s first 4K 240Hz screen, and the new ultra-wide Odyssey G9, the new Odyssey monitor line-up is set to deliver unparalleled experiences for all gamers SINGAPORE – Media OutReach Newswire – 2 April 2025 – Samsung Electronics Singapore is bringing its 2025 Odyssey monitor line-up to Singapore. Featuring the revolutionary Odyssey 3D, the stunning Odyssey […]

A Must-Visit UNESCO-Recognized Festival Featuring Water Play, Traditional Thai Ceremonies & Performances Along the Most Breathtaking Views of the Chao Phraya River from April 10–16, 2025 BANGKOK, THAILAND – Media OutReach Newswire – 2 April 2025 – ICONSIAM, a global landmark along the Chao Phraya River developed through a joint venture of Siam Piwat, Charoen Pokphand Group (CP), and Magnolia Quality Development (MQDC), joins forces with public […]

KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 2 April 2025 – Octa, a global broker since 2011, surveyed more than 2,000 traders from Indonesia, Malaysia, South Africa, and Nigeria to discover their most glaring concerns regarding choosing a financial broker. What are the most suspicious brokers’ traits, according to traders? How do traders identify potentially unreliable service providers in the highly diversified e-brokerage landscape? Below is […]

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In a city like Dubai, it is very important not to forget about achieving personal goals, given how fast life rushes in the vastness of such a metropolis. For many people, this seems impossible, because there are too many distractions that do not even allow you to exercise normally. The solution is very simple and effective, which has already been tested in practice many times – contacting […]

​ KUALA LUMPUR, MALAYSIA – Media OutReach Neswire – 28 March 2025 – As of March 2025, Brent crude oil prices have experienced fluctuations: its price traded between $68.30 and slightly above $73 per barrel. This volatility reflects evolving macroeconomic factors and geopolitical dynamics. OPEC+ has announced plans to gradually increase oil production starting in April 2025, aiming to unwind 2.2 million barrels per day of previous […]

MACAU SAR – Media OutReach Newswire – 27 March 2025 – The world-class luxurious Galaxy Macau™ integrated resort is launching its most immersive holiday experience yet, anchored by the back of the Grand Resort Deck—the only true resort experience in Macau—starting April 18. Beyond its thrilling water attractions, the resort curates a symphony of art exhibitions, star-studded concerts, Michelin-star feasts, and luxury brand shopping extravaganzas, while its […]

HONG KONG SAR – Media OutReach Newswire – 27 March 2025 – Southa Hong Kong (Southa), a joint venture of Veolia Hong Kong & Macau, has released a white paper that offers practical strategies for optimizing building energy management and significantly reducing Hong Kong’s carbon footprint. With buildings responsible for 90% of the city’s electricity consumption and 60% of its carbon emissions, this timely resource provides building […]

South Korea’s Financial Intelligence Unit has directed Google to restrict domestic access to 17 unregistered cryptocurrency exchange applications on the Google Play Store. Effective March 25, users in South Korea are unable to install or update apps from platforms including KuCoin, MEXC, Phemex, Poloniex, and BitMart.

The FIU’s action targets foreign virtual asset service providers operating without proper registration, as mandated by the Act on Reporting and Using Specified Financial Transaction Information. This legislation requires all VASPs conducting business in South Korea to register with the authorities to ensure compliance with anti-money laundering and know-your-customer regulations.

The 17 affected exchanges are KuCoin, MEXC, Phemex, XT, Bitrue, CoinW, CoinEx, ZoomEX, Poloniex, BTCC, DigiFinex, Pionex, Blofin, Apex Pro, CoinCatch, WEEX, and BitMart. Users attempting to access these platforms via their mobile applications will encounter restrictions, preventing new installations and updates.

The FIU has been actively identifying and addressing unregistered foreign exchanges targeting South Korean investors. In 2022, the agency identified 16 such operators, followed by six more in 2023. The current enforcement action reflects the government’s commitment to safeguarding its financial system from potential risks associated with unregulated cryptocurrency trading.

Operators of unregistered exchanges face legal consequences, including up to five years in prison or fines of up to 50 million won . The FIU is collaborating with Apple Korea and the Korea Communications Standards Commission to extend these restrictions to the Apple App Store and to block associated websites, further curbing access to unregistered platforms.

This crackdown is part of South Korea’s ongoing efforts to balance innovation in the cryptocurrency sector with the need for regulatory oversight. By targeting unregistered exchanges, the government aims to protect investors and maintain the integrity of its financial system.

SINGAPORE – Media OutReach Neswire – 26 March 2025 – Great World Residences, formerly known as Great World Serviced Apartments, proudly announces its new name and refreshed brand identity, marking more than 25 years of providing exceptional serviced residential living. At the heart of this transformation is a comprehensive refurbishment of its apartments and facilities, including a brand-new pickleball court set to open in Q2 this year, […]

Imagine you’re preparing for an important event, let’s say a wedding. You have to prepare the location, invitations, menu, dress code, and all sorts of other details. But when you think about this day, there is one thing you can’t imagine it without. And, of course, these are flowers. There are many cultures, traditions and ceremonies in the world, but flowers are the main attribute of nearly […]

Set to Take Over ICONSIAM Mall, Get Ready for the Ultimate Group Workout Experience – Tickets Available March 24, at Eventpop BANGKOK, THAILAND – Media OutReach Newswire – 24 March 2025 – The Ultimate Fitness Force 2025 (TUFF 2025), Asia’s largest group fitness festival, is coming to TRUE ICON HALL, ICONSIAM, on June 7-8, 2025. Hosted by Fitness First Thailand in collaboration with ICONSIAM, and Les Mills […]

Car wrapping  has experienced a growth in popularity as a method for improving the look of all cars and for providing protection to any original paint. Car wraps provide a truly special mix of customization and practicality in Dubai, a city known for its genuinely luxurious lifestyle and spectacularly stunning vehicles. A lot of people ask – what is the best car wrapping near me? This guide […]

Many factors come into play when choosing a reliable broker to start your trading journey. For someone with limited experience in the markets, this choice can be very confusing, and the priorities are hard to define. However, traders have their own trove of practical knowledge, and tapping into it can shed light on brokers’ red flags. As part of its global research, global broker Octa surveyed hundreds […]

By Nitya Chakraborty Indrajit Gupta, the dedicated Communist leader of India in the last century and an outstanding Parliamentarian dominated the country’s trade union movement and the Left movement for the last sixty years of the 20th century. He belonged to that generation of leaders from undivided Bengal whose sense of patriotism and deep anguish […]

The global economy is experiencing fresh waves of volatility as Trump’s second term reignites trade conflicts, currency battles, and inflationary pressures. Markets have already reacted—tariff hikes on Chinese goods, retaliatory measures from Beijing, and escalating tensions with Europe are shifting capital flows at a breakneck pace. Investors can’t afford to be complacent. They must position portfolios to withstand uncertainty, hedge against risk, and seize opportunities in this […]

Entries received for “New Places in Edo/Tokyo in metaverse” TOKYO, JAPAN – Media OutReach Newswire – 17 March 2025 – From Wednesday, December 25, 2024 through Friday, January 10, 2025, the Tokyo Metropolitan Government called for submissions of cluster worlds created with the theme “New Places in Edo/Tokyo in metaverse” that showcase the best of Tokyo to a wider audience. We are pleased to announce that 12 […]

Accelerating Deeptech SINGAPORE – Media OutReach – 3 October 2023 – X-PITCH is delighted to introduce 2023 TOP100 startups. Chosen from a pool of over 3,000 startups around the world, this year’s selection showcases a diverse and vibrant ecosystem of entrepreneurial talent. X-PITCH 2023 is driven by a shared commitment to accelerate deeptech innovation across four vital domains: Healthcare, Advanced Manufacturing, Sustainability, and Digital Economy. The statistics […]

KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 14 March 2025 – Silver is attracting investor interest, with market analysts predicting a potential leap to $40 per troy ounce in 2025. The metal is rising in global investment portfolios, providing stiff competition to gold’s long reign over commodity markets. Kar Yong Ang, a financial market analyst at Octa Broker, explains why silver has a very good opportunity […]

Janus Marine and Defense, a U.S.-based marine autonomy specialist, in collaboration with Nexus Remote Solutions, has announced plans to establish the United Arab Emirates’ inaugural center dedicated to the testing, hiring, and maintenance of unmanned vessels. The Remote Operations Center , aptly named ‘The Quarterdeck,’ is set to be located at Addax Tower on Al Reem Island in Abu Dhabi, marking a significant milestone in the region’s maritime industry.

This initiative represents a pioneering effort to provide industry and small to medium-sized enterprises with access to advanced facilities for unmanned surface vessels and unmanned underwater vessels . The Quarterdeck aims to serve both commercial offshore and defense sectors, fostering innovation and development in marine autonomy technologies.

Jack Dougherty, owner of Janus Marine and Defense and a former U.S. Navy seafarer with extensive experience in naval and commercial marine autonomy, highlighted the strategic advantages of operating in the UAE. He noted that the country’s open policy towards USV operations in its territorial waters offers favorable conditions, free from the bureaucratic hurdles and regulations encountered in other parts of the world.

The Quarterdeck is scheduled to officially open in June, positioning itself as a unique facility in the Gulf region. Currently, the UAE hosts three ROCs spanning the offshore, commercial, and defense markets; however, all three are privately owned and inaccessible to external contractors. The establishment of the Quarterdeck aims to bridge this gap by providing private companies with access to state-of-the-art technology and facilities typically reserved for private ROCs.

This development is poised to significantly enhance the capabilities of startups and scale-ups in the region, enabling them to innovate and advance USV and UUV technologies. By offering a dedicated space for testing and maintenance, the Quarterdeck is expected to accelerate the growth of the unmanned vessel industry within the UAE and beyond.

The collaboration between Janus Marine and Defense and Nexus Remote Solutions underscores a shared vision for industry standardization and practical cooperation. In May 2024, the two companies unveiled the Nexus-Janus Portal, a groundbreaking USV payload management system designed for universal compatibility. The NJ Portal aims to standardize payload integration across various vessel builders, payload providers, and autonomous control manufacturers, thereby enhancing the modularity and operational flexibility of USVs.

The NJ Portal is a scalable, versatile server solution that simplifies the integration and management of payload systems on USVs. It adapts to diverse data processing requirements and power needs, ranging from single-board computers to powerful 8U GPU servers. This ensures easy management of payload integrations and rapid deployment or modification of configurations across different vessels. Jack Dougherty, CEO of Janus Marine and Defense, emphasized the portal’s versatility, stating, “Whether it’s a tow-behind side scan sonar performing a hydro survey or a .50 caliber machine gun in a remote weapon system, the principle is the same. We take a manned or wired system and make it work on an autonomous platform where it wasn’t designed to be.”

John Woroniuk, Director of Nexus and Portal Development Engineer, highlighted the portal’s potential, noting, “With version 3 of our system, we offer nearly unlimited integration possibilities. This enhances payload efficiency and allows preprogrammed accommodation for additional payloads yet to be installed. Whether your fleet consists of 11-meter USVs equipped for varied missions, our system delivers the seamless integration needed.”

The establishment of the Quarterdeck aligns with the UAE’s broader strategic objectives to position itself as a leader in maritime innovation and technology. By providing a dedicated facility for the development and maintenance of unmanned vessels, the UAE is set to attract global attention and investment in the marine autonomy sector.

The Quarterdeck’s location at Addax Tower on Al Reem Island offers strategic advantages, providing easy access to key maritime routes and infrastructure. This prime location is expected to facilitate seamless operations and collaborations with local and international partners.

The launch of the Quarterdeck is anticipated to have a ripple effect across the maritime industry in the region. By offering accessible facilities for testing and maintaining unmanned vessels, the center is likely to encourage more companies to explore and invest in marine autonomy technologies. This could lead to increased innovation, job creation, and economic growth within the sector.

The Quarterdeck is expected to serve as a hub for knowledge exchange and collaboration. By bringing together industry experts, researchers, and companies, the center aims to foster a community dedicated to advancing unmanned vessel technologies. This collaborative environment is likely to spur new ideas, partnerships, and solutions to existing challenges in the maritime industry.

The initiative also reflects a growing global trend towards the adoption of unmanned systems in various sectors, including defense, oil and gas, and environmental monitoring. The ability to operate vessels remotely offers numerous advantages, such as increased safety, reduced operational costs, and the capability to perform tasks in hazardous environments.

As the maritime industry continues to evolve, the establishment of facilities like the Quarterdeck will play a crucial role in shaping the future of marine operations. By providing the necessary infrastructure and support, such centers enable the development and deployment of advanced technologies that can transform traditional practices.

VISHNU RAJA
RYO YAMADA
HITORI GOTOH
IKUYO KITA
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