FTX Ramps Up Legal Battle Against NFT Stars and Delysium Amid $16B Creditor Payout Plan

FTX is escalating legal actions against NFT Stars Ltd. and KUROSEMI INC. (Delysium) to recover allegedly withheld crypto assets, coinciding with its upcoming $16 billion creditor distribution starting May 30th.

FTX Escalates Legal Action Against NFT Stars and Delysium Over Withheld Crypto Assets

FTX is intensifying legal efforts to recover allegedly stolen assets, targeting NFT Stars Ltd. and KUROSEMI INC. (operating as Delysium). The exchange accuses both firms of ignoring contractual obligations to return tokens, warning of imminent lawsuits to maximize creditor recoveries.

The legal push coincides with FTX’s planned $16 billion cash distribution to creditors, set to begin May 30th. Token issuers are being urged to voluntarily return assets to avoid litigation, as the bankrupt exchange aggressively pursues all outstanding claims.

FTX Repayments Cast Shadow Over Solana’s Market Momentum

Solana’s price action has stalled amid broader crypto market turbulence, with SOL trading at $145.45—a 2.5% weekly decline. The asset remains range-bound after rallying 30% from April lows, as traders weigh robust network activity against looming FTX liquidation risks.

On-chain metrics show Solana processing $432.9 million in annualized transaction fees, with $216.5 million worth of SOL burned yearly. This fundamental strength contrasts with technical resistance at current levels, where macro concerns and FTX’s pending SOL distributions converge.

The defunct exchange’s estate holds SOL as its largest on-chain asset, with initial creditor repayments scheduled for May 30. market participants anticipate potential selling pressure from these distributions, mirroring March’s price impact when FTX liquidated SOL holdings.