Voyager bankruptcy plan approved, customers may recover 35.7% of claims initially The third try is a charm for the crypto brokerage, whose assets were almost bought by FTX and Binance.US. Now it’s just handing what it has over to its creditors. News Join us on social networks Crypto brokerage Voyager’s bankruptcy plan was approved by the United States Bankruptcy Court for the Southern District of New […]
BlockFi users to get back $297M from Wallet accounts: Report Return of funds does not apply to users of interest-bearing accounts, ruled U.S. bankruptcy judge Michael Kaplan. News Join us on social networks A United States judge has granted permission to bankrupt crypto lender BlockFi to return $297 million to customers with deposits held in its Wallet program, Reuters reported on May 11. The return […]
FTX Founder Bankman-Fried Seeks Dismissal of Charges Filed After Extradition Former CEO of crypto exchange FTX, Sam Bankman-Fried, has asked a judge in the U.S. to dismiss several charges against him filed after his extradition from the Bahamas. His lawyers insist that prosecutors have not obtained consent from Bahamian authorities for the additional counts. FTX’s Sam Bankman-Fried Urges Court to Drop Post-Extradition Charges Attorneys representing […]
Voyager creditors could start seeing funds in the ‘next few weeks’ The bankrupt crypto brokerage has entered the final stages of liquidation procedures after Binance abandoned its acquisition deal last week. News Own this piece of history Collect this article as an NFT Join us on social networks Funds stuck on the platform of bankrupt crypto broker Voyager Digital may begin returning to creditors in "the […]
FTX seeks to recover nearly $4b in bankruptcy case Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied In a court petition published on May 3, insolvent crypto exchange FTX claimed insolvent Genesis Global Capital owed it roughly $4 billion. According to the lawsuit, Genesis was “largely repaid” the roughly $8 billion it lent to Alameda Research, a company […]
FTX seeks to claw back $4B from Genesis in a battle of the bankrupt The bankrupt crypto exchange wants to recoup billions from the bankrupt crypto lender claiming it was “instrumental” to FTX’s “fraudulent” business model. News Own this piece of history Collect this article as an NFT Join us on social networks Cryptocurrency exchange FTX is seeking to recover around $4 billion from similarly bankrupt crypto lender Genesis […]
2nd biggest US bank failure — 5 things to know in Bitcoin this week The failure of First Republic Bank marks a volatile beginning to a busy macroeconomic week, while Bitcoin already faces downside pressure. Markets News Own this piece of history Collect this article as an NFT Join us on social networks Bitcoin (BTC) starts a new week digesting major macroeconomic news as the United States sees the […]
Gemini ‘supportive’ of Genesis mediation, but frustrated over pacing Genesis is starting a 30-day meditation with its key creditors as its bankruptcy proceedings are close to hitting the four-month mark. News Own this piece of history Collect this article as an NFT Join us on social networks Crypto lender Genesis and its key creditor group have agreed to a 30-day mediation process in an […]
Fed, NYDFS assess their supervisory performance after March’s big bank failures Internal reviews of the supervision of Silicon Valley Bank and Signature Bank have been released, showing weaknesses on the part of the banks’ regulators as well as management. News Own this piece of history Collect this article as an NFT Join us on social networks Bank regulators in the United States have turned from introspection […]
Core Scientific’s Stock Hike 7% Following New Hosting Contracts Amid Bankruptcy Crypto miner Core Scientific has signed a new hosting contract amid its bankruptcy proceedings. The struggling miner has agreed to host nearly 18,000 BTC mining rigs from three firms. The new contracts will bring the mining firm’s total mining rigs to over 220,000. The latest development in Core Scientific’s bankruptcy case saw the struggling crypto […]
FTX Announces LedgerX’s Sale For $50 Million FTX debtors have reached an agreement with an affiliate of Miami International Holdings to sell LedgerX. LedgerX will be sold to M7 Holdings for $50 million after it emerged as the top bidder in the exchange’s bankruptcy auction. FTX US acquired LedgerX’s parent firm for $298 million back in 2021. FTX is set to sell […]
Binance US Pulls the Plug: Voyager Purchase Deal Falls Through According to the now-defunct crypto lender Voyager, Binance US sent a letter to the company “terminating the asset purchase agreement.” While the announcement was “disappointing” for Voyager, the firm maintained that its customers would still be receiving their cash and crypto through a “direct distribution” via the Voyager platform. Voyager’s Asset Purchase Agreement With Binance […]
Binance.US backs out of $1B Voyager asset purchase, blames regulatory environment The parties got the go-ahead on the deal last week, after overcoming several objections. Binance.US did not say what compelled it to change its mind now. News Own this piece of history Collect this article as an NFT Join us on social networks Binance.US has backed out of its agreement to purchase $1 billion of […]
Coinbase, Gemini take center stage in upcoming Celsius auction Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The fate of Celsius Network, a crypto lending platform that went bankrupt last year, will be decided by auction on April 25 in New York, and two new consortiums have joined the bidding war for the company’s assets, which include bitcoin […]
Zipmex requests 2-month extension from Singapore court for restructuring plan A ruling from Singapore’s High Court originally allowed Zipmex a moratorium until December 2022 to handle debt relief amid reported liquidity issues. News Own this piece of history Collect this article as an NFT Join us on social networks Cryptocurrency exchange Zipmex has requested another extension which would allow for a longer moratorium on its […]
Celsius might sue media personality for leaking confidential information Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied According to reports, the now-bankrupt Celsius Network is preparing to sue a creditor and media personality, Tiffany Fong, for disclosing confidential information. Fong, however, claims she did nothing wrong by making public sensitive details related to the lender since a non-disclosure […]
FTX considering a comeback as more funds are recovered FTX has successfully recovered $7.3 billion in assets and is considering relaunching the exchange in the second quarter of 2023 as per recent reports. During a hearing that took place on April 12 in the United States bankruptcy court for the district of Delaware, attorneys from Sullivan & Cromwell representing FTX said that the cryptocurrency […]
FTX debtors publish report on FTX group’s control failures FTX debtors have released their first report stating that the failed crypto exchange lacked crucial financial and accounting procedures to protect customer assets. The investigation also exposed the company’s culture of repressing dissent and employees’ internal jokes about misplacing millions of dollars worth of assets. In a press release on April 9, John J. Ray III, […]
Celsius Network to make April 12 filing, including info on voting for restructuring plan "Our Disclosure Statement will provide a summary of the Plan, account-holder recovery percentages, FAQs, and additional information on certain risk factors," said Celsius. News Own this piece of history Collect this article as an NFT Join us on social networks Bankrupt crypto lender Celsius Network has announced it will be moving forward on its Chapter […]
FTX EU Commences Process To Return Customer Funds FTX’s European arm has initiated the process to return the remaining assets to its customers. The platform has set up a dedicated website for clients to request final balances ahead of withdrawals. Withdrawals will only be available for customers who opened their accounts after 7 March 2022. The withdrawal process will be similar to the […]
