bankruptcy

Bankrupt crypto exchange FTX has been given the green light to sell around $873 million of trust assets, with proceeds used to repay creditors impacted by the exchange’s collapse in 2022, according to a Nov. 29 filing in a Delaware bankruptcy court.The $873 million in assets will be source ...

Bankrupt crypto lender Genesis and its parent company, Digital Currency Group (DCG), has struck a deal that could end an ongoing lawsuit to claw back $620 million in repayments from DCG. In a Nov. 28 filing to a New York Bankruptcy Court, Genesis said DCG agreed to pay its outstanding ...

Bankrupt crypto companies FTX and BlockFi have been allowed to proceed in negotiations for their claims settlement, according to a new court filing.On Nov. 13, United States bankruptcy judge Michael Kaplan ordered the end of an automatic holding placed on proceedings between the two firms. ...

An employee of FTX’s charity wing recruited by FTX co-founder Sam Bankman-Fried is trying to get paid $275,000, the remainder of his claimed 2022 salary bonus.Ross Rheingans-Yoo's lawyers argued in a Nov. 13 court filing that only $375,000 of his $650,000 bonus was paid by FTX. They ...

The FTX bankruptcy estate, headed by CEO John J. Ray III, has filed a lawsuit against ByBit, its investment arm Mirana, and various executives. The aim is to recover funds and digital assets that ByBit withdrew from FTX just before its collapse, with the current value close to $1 billion.T ...

Several former FTX executives have teamed up to help build a new cryptocurrency exchange in Dubai with a specific focus on what FTX failed to do — secure customer funds.Ex-FTX lawyer Can Sun is leading the way with Trek Labs, a Dubai-based startup that received a license to offer cry ...

Solana's native token (SOL) experienced an impressive 22% surge on Nov. 10, breaking past the $54 mark for the first time since May 2022. Notably, this surge occurred amid the continuous selling of SOL tokens by FTX's bankruptcy estate. The Delaware Bankruptcy Court approved the sale of the faile ...

Crypto lender Hodlnaut’s days appear to be numbered after the High Court of Singapore ended judicial management and ordered its liquidation. Users’ funds have been frozen since August 2022. Former Hodlnaut interim judicial manager (IJM) Aaron Loh Cheng Lee announced in a l ...

The Celsius bankruptcy plan has been approved. The path is now clear for customers to see some of their funds returned and receive shares in the reorganized company, which will be called NewCo.Judge Martin Glenn of the Southern District of New York Bankruptcy Court issued a confirmation on ...

The United States securities regulator chief has hinted he would be open to a rebooted crypto exchange FTX — as long as its new leadership stays within the bounds of the law. SEC Chair Gary Gensler’s comments were made in response to reports that Tom Farley, a former president ...

Crypto exchange OPNX has obtained a virtual asset service provider license (VASP) in Lithuania, allowing it to provide spot crypto exchange services throughout the European Union, according to a Nov. 8 announcement seen by Cointelegraph.OPNX trading interface. Source: OPNXThe announcement ...

An upcoming Bitcoin (BTC) hashrate-backed product that could offer 10% to 13% returns shouldn’t be compared to failed products by BlockFi or Celsius as its returns come from proof-of-work, not “ponzi schemes,” claims the product’s creator Bitcoin mining firm Luxor Technolo ...

The current claim pricing of FTX has reached a maximum of 57%, according to data from Claims Market. The increase in FTX’s claim pricing is attributed to the valuation of the Artificial intelligence (AI) companies that the now-bankrupt crypto exchange previously invested in. Creditors ...

Google has doubled down on its artificial intelligence bets by investing another $2 billion into AI startup Anthropic, according to a new report.Google invested $500 million upfront into Anthropic, a rival to ChatGPT creators OpenAI, and will pay off the remaining $1.5 billion over time, a ...

Cryptocurrency exchange Gemini filed an adversary proceeding against bankrupt crypto lender Genesis Global Holdco in the Southern District of New York Bankruptcy Court on Oct. 27. At issue is the fate of 62,086,586 shares of Grayscale Bitcoin Trust (GBTC). They were used as collateral to sec ...

Bankrupt crypto exchange FTX is looking to demand information on millions of dollars in payments it had previously given to a nonprofit AI safety organization — the Center for AI Safety (CAIS).In an Oct. 25 bankruptcy court filing, the lawyers helming FTX claimed the firm gave $6.5 million ...

FTX Trading Ltd., formerly a prominent player in the cryptocurrency exchange sector, is carefully considering its future after going through bankruptcy proceedings. According to a report, during a court hearing in Wilmington, Delaware, Kevin M. Cofsky, the company's investment banker ...

Customers of bankrupt crypto exchange FTX and FTX US could see over 90% of assets returned to them by the end of the second quarter of 2024 after a proposed settlement was reached between FTX creditors and debtors.On Oct. 17, FTX debtors said they reached a “major milestone” in ...

Cryptonews reported last week that a 36-year-old individual, identified as Su Zhu, the co-founder of the defunct crypto hedge fund Three Arrows Capital (3AC), has been arrested in Singapore. The Singapore Police officially confirmed the arrest, responding to a Reuters query on Thursday. According ...

Celsius, the bankrupt crypto lending firm, has revealed its plan to secure $450 million in seed funding for its proposed relaunch. This funding is expected to come from Fahrenheit LLC, a group of companies highly involved in Celsius' bankruptcy case. Fahrenheit had previously won the bidding process ...

Effective altruism, an ethical philosophy that encourages people to make as much money as possible to give it away later for charitable purposes, played a role in the decision-making processes at crypto exchange FTX, leading to what some described as "increasingly risky and ridiculous" actions. Adit ...

Creditors of the troubled crypto lender Celsius Network are facing an increased risk of phishing attacks as the lender's bankruptcy proceedings near their conclusion. Reports on social media have indicated a rise in phishing attacks by scammers pretending to be Stretto, the bankruptcy services pl ...

The interim judicial managers overseeing the affairs of Hodlnaut, the collapsed cryptocurrency lender, have reportedly turned down a recent buyout offer, primarily due to a substantial decline in the settlement token's value. Hodlnaut administrators have expressed reservations about the acquisition ...

Court documents reveal that FTX’s financial advisors are exploring the possibility of reversing payments made to athletes and celebrities prior to the company’s Chapter 11 filing, utilizing bankruptcy laws. According to Bloomberg, the extensive list of endorsements underscores the importance of m ...

Digital Currency Group (DCG), a prominent venture capital firm in the cryptocurrency industry, has taken a significant step toward resolving the debt issues of its crypto lending subsidiary, Genesis. Agreement in Principle An agreement in principle has been reached between DCG, debtors, a ...

Bankrupt crypto lender Celsius Network has filed a complaint against lending firm EquitiesFirst Holdings in a bid to recoup assets.According to a sealed adversary complaint filed on Sept. 6, Celsius is seeking injunctive relief and a declaratory judgment associated with the "recovery of mo ...

Bankrupt cryptocurrency lender Genesis Global Capital (GGC) filed two suits on Sept. 6 seeking the repayment of overdue loans from affiliated companies. The loans are worth over $600 million in total. GGC filed the complaints against Digital Currency Group (DCG) and DCG International ...

Genesis Global Trading (GGT) will close down its cryptocurrency spot trading service on Sept. 18, according to press reports. GGT is affiliated with the Digital Currency Group (DCG), but it was not affected when the parent company’s crypto lender, Genesis Global Capital, declared bankruptcy ...

A wallet owned by bankrupt crypto exchange FTX has moved $10 million worth of digital assets from the Solana (SOL) network to Ethereum, sparking concerns it could be the beginning of a series of token dumps amid the exchange’s bankruptcy proceedings. According to data from block ...

FTX Debtors have disclosed a series of financial statements revealing any transactions that benefited company executives shortly before the major cryptocurrency exchange’s collapse in November 2022.In a recent court filing with the United States Bankruptcy Court for the District of De ...

Cryptocurrency and stock trading platform Robinhood has announced the purchase of more than 55 million shares of the firm previously held by former FTX CEO Sam Bankman-Fried.According to an Aug. 31 blog post, Robinhood completed a purchase of 55,273,469 shares for roughly $606 million foll ...

The lenders of the bankrupt cryptocurrency lender Genesis are not satisfied with the latest in-principle settlement agreement with other parties including the Digital Currency Group (DCG).The Ad Hoc Group of Genesis Global Capital (GGC) lenders — represented by lawyers Brian Rosen and Jord ...

Bankrupt cryptocurrency lender BlockFi is trying to block attempts by the similarly bankrupt FTX and Three Arrows Capital (3AC) that aim to retrieve hundreds of millions of dollars to pay back their creditors. BlockFi claimed in an Aug. 21 filing to a New Jersey bankruptcy court that its own cred ...

It’s been another week of mixed developments in the crypto industry, with established players winding down operations while newcomers introduce new crypto features and services. Binance’s buy-and-sell crypto arm was shut down on Aug.16, with the crypto exchange remaining under widespread regulato ...

Crypto custodian Prime Trust has filed for Chapter 11 bankruptcy protection in Delaware after facing a shortfall in customer funds.The company said in an Aug.15 filing that it has between 25,000 to 50,000 creditors and estimated liabilities between $100 million to $500 million compared to ...

A judge in the bankruptcy case of defunct crypto hedge fund Three Arrows Capital (3AC) has denied a motion that would have held co-founder Kyle Davies in contempt of court and imposed sanctions.In an Aug. 11 filing with the United States Bankruptcy Court for the Southern District of New Yo ...

Cryptocurrency custody firm Anchorage Digital and major mining manufacturer Bitmain could take equity stakes in Core Scientific as part of the firm’s restructuring plan.According to an Aug. 8 filing in the United States Bankruptcy Court for the Southern District of Texas, Bitmain pla ...

Crypto lender Hodlnaut appears to have found a white knight investor to exit its bankruptcy proceedings. According to a Bloomberg report, OPNX exchange has made an offer to take over 75% of the company.The deal would see a capital injection of nearly $30 million worth of FLEX tokens into H ...

Digital Currency Group (DCG) is now under scrutiny for its financial transactions involving its subsidiary, Genesis Global Capital. The investigation is reportedly being conducted by New York Attorney General Letitia James, Bloomberg reported, citing sources familiar with the matter.Federa ...

Publicly traded Bitcoin (BTC) miner Core Scientific has appointed Adam Sullivan its CEO. Sullivan, who previously served as the company’s president, took the role on Aug. 4, while co-founder and former CEO Mike Levitt remains chairman of the board.Sullivan has over a decade of financial se ...

Lawyers for Sam Bankman-Fried have denied that he attempted to intimidate witnesses in his criminal trial by talking to New York Times reporters and argued there is no reason to jail him.In an Aug. 1 letter to Judge Lewis Kaplan, Bankman-Fried’s lawyers claimed the prosecution’s attempt to ...

A body representing FTX customers said it is “extremely disappointed” by the exchange’s draft bankruptcy exit plan and claims it was ignored by FTX’s restructuring team.In a July 31 court filing, FTX’s Official Committee of Unsecured Creditors (UCC) said despi ...

Kyle Davies, the co-founder of bankrupt crypto hedge fund Three Arrows Capital (3AC), has submitted documentation to court claiming he is fully a citizen of Singapore and not the United States.In an Aug. 1 filing with the U.S. Bankruptcy Court for the Southern District of New York, Davies ...

Scammers set their sights on Voyager Digital customers during the month-long window when they were able to withdraw some portion of their funds from the bankrupt crypto brokerage, Bloomberg reported, citing Darren Azman, a lawyer for the firm. Law enforcement has been notified of the situation, h ...

Bankrupt crypto exchange FTX and crypto lender Genesis have reached an agreement in principle to resolve the claims brought by FTX in its bankruptcy case.On July 27, legal counsels for both firms sent a letter to bankruptcy Judge Sean Lane stating that they had agreed to a settlement. ...

Former FTX CEO Sam Bankman-Fried has agreed to a gag order preventing him from making comments to third parties that may interfere with his trial — but argues other potential witnesses should be gagged as well, including current FTX CEO John Ray.The gag order against Sam Bankman-Fried was ...

Bankrupted crypto lender Celsius Network reached two settlements that allows it to return assets to customers and end its bankruptcy proceedings, according to court filings on July 20. The settlements will be analyzed by Judge Martin Glenn at a hearing on August 10 and address $78.2 b ...

Gabriel Bankman-Fried, the brother of former FTX CEO Sam Bankman-Fried, had a plan to survive a global catastrophe using funds from the now-defunct cryptocurrency exchange.According to a July 20 filing with the United States Bankruptcy Court for the District of Delaware, Gabriel planned to ...

FTX has sued former CEO Sam Bankman-Fried and other former key executives from the now-bankrupt crypto exchange to recover more than $1 billion in allegedly misappropriated funds. A July 20 complaint filed in a United States Bankruptcy Court named former Alameda Research CEO Caro ...

Zac Prince, the CEO of bankrupt cryptocurrency lending firm BlockFi, allegedly disregarded recommendations from the company’s risk management team over lending assets to Alameda Research. According to a July 14 filing with the United States Bankruptcy Court for the District of N ...

Crypto exchange Gemini founder and CEO Cameron Winklevoss is again threatening to sue Digital Currency Group and its CEO Barry Silbert over delays in the resolution of Genesis for its Earn customers while slamming the CEOfor allegedly trying to play the victim card.In the July 4 “Ope ...

The co-founders of collapsed crypto hedge fund Three Arrows Capital (3AC) have pledged to donate a portion of earnings from their newest crypto venture to creditors who lost money in the fund’s 2022 collapse.In a July 3 Twitter Space, 3AC co-founder Kyle Davies said it would be &ldqu ...

Bankrupt crypto exchange FTX is one step closer to relaunching as an entirely new exchange.According to a June 28 report from The Wall Street Journal, FTX restructuring chief John Ray said the company had “begun the process of soliciting interested parties to the reboot of the FTX.co ...

FTX has filed a lawsuit against a former regulatory and compliance executive at the exchange, alleging he made a series of payments attempting to prevent staff from blowing the whistle about the exchange’s issues.On June 27, FTX filed a lawsuit against Daniel Friedberg who held multiple ro ...

The sale of FTX's $500 million stake in artificial intelligence startup Anthropic has reportedly been put on hold, adding a potential delay to the bankrupt crypto exchange's efforts to fill a $2 billion hole remaining in its balance sheet.Citing people familiar with the matter, Bloomberg&n ...

Teneo, the liquidator behind bankrupt hedge fund Three Arrows Capital (3AC), is reportedly seeking to recover roughly $1.3 billion in funds from 3AC founders Su Zhu and Kyle Davies.According to a June 27 Bloomberg report, the liquidator claimed Davies and Zhu incurred the $1.3 billion ...

Former FTX executives allegedly splurged millions on funding niche projects completely unrelated to crypto or Web3, including a uniquely named $1.8 million “Pineapple house.”A June 26 report from FTX restructuring chief and CEO John Ray laid out the uses of the allegedly misapp ...

Creditors of bankrupt cryptocurrency lending platform Celsius have alleged that crypto market maker, Wintermute, assisted Celsius executives in manipulating the price of CEL (CEL) through improper market trading.According to a June 23 Bloomberg report, which cited a recent court filing, Ce ...

FTX has filed a lawsuit in the United States Bankruptcy Court for the District of Delaware against some of the investment firms it had ties to before its collapse. The suit, filed June 22, contains 16 counts and seeks over $700 million from the defendants.The lawsuit filing names  ...

Prime Trust’s financial condition is “critically deficient,” and the crypto custodian has been unable to honor customer withdrawals since June 21, according to Nevada’s business regulator.In a June 21 cease and desist order, Nevada’s Department of Busines ...

Fees charged by the lawyers and the restructuring team working on the bankrupt crypto exchange FTX have topped $200 million in just over seven months, but an independent auditor argues it makes sense, given the mammoth task.On June 20 the court-appointed fee examiner, Katherine Stadler, fi ...

Goldman Sachs is currently facing scrutiny from the Federal Reserve and Securities and Exchange Commission (SEC) regarding its involvement in the purchase of Silicon Valley Bank’s securities portfolio prior to the bank’s collapse, The Wall Street Journal has reported, citing sour ...

Cryptocurrency brokerage Voyager Digital is preparing to reopen its app and allow customers to finally withdraw their funds — nearly one year after it filed for Chapter 11 bankruptcy.Voyager's bankruptcy plan administrator Paul Hage said in a June 14 court filing that around June 15 ...

Bankrupt cryptocurrency exchange FTX has reportedly been granted permission to permanently remove individual customers from all court filings, while the names of companies and institutional investors will be sealed on a "temporary basis."In recent times, several mainstream media outlets ha ...

The list of around nine million FTX customers is “extraordinarily valuable” and could harm the crypto exchange’s sale value if released, a member of the FTX restructuring team has argued.In a court hearing released June 8, Kevin Cofsky, a partner at the investment bank Pa ...

The United States Justice Department (DOJ) has filed an objection to a motion by bankrupt cryptocurrency trading platform Bittrex to allow customers to withdraw their crypto and fiat. The U.S. Treasury’s Office of Foreign Assets Control (OFAC) is Bittrex’s biggest creditor, but its cl ...

Court filings have revealed the names of the two United States District Court Judges that will preside over the Coinbase and Binance lawsuits brought against them by the U.S. Securities and Exchange Commission.The case of SEC v Coinbase will be heard by District Court Judge Jennifer H. Rea ...

The Metropolitan Museum of Art is set to return $550,000 in donations it received from crypto exchange FTX prior to its collapse in November.The New York-based museum confirmed its intention to repay the funds to FTX debtors in a filing to the United States Bankruptcy Court in Delaware on ...

Centralized crypto exchange Gate.io has threatened legal action in response to rumors of imminent bankruptcy. Crypto community members have been speculating since May about a possible connection between Gate.io and the troubled cross-chain protocol Multichain.“Legal proceedings will ...

Just a month after bankrupt cryptocurrency exchange FTX was seeking $4 billion from the also bankrupt crypto lender Genesis, it is now contesting a claim that it is entitled to nothing.According to a June 2 court filing in a New York Bankruptcy Court, the FTX debtors have raised an objecti ...

Crypto exchange Gemini and cryptocurrency lender Genesis Global Capital have asked the court to dismiss the U.S. Securities and Exchange Commission's (SEC) permanent injunction against Gemini Earn. Gemini and Genesis argue that the Gemini Earn program should not be classi ...

According to new court documents on the Kroll law firm's website, FTX exchange manager John Ray is working to relaunch the platform. Against this backdrop, the FTT token gained 9%. In a court document dated May 22, FTX filed a compensation report that outlined a number of ...

Cryptocurrency exchange Gemini reported that Digital Currency Group (DCG), the parent company of Genesis, missed a $630 million payment due to the exchange last week. Gemini and Genesis continue dispute over Gemini Earn program. Genesis' decision to close customer with ...

Bankrupt cryptocurrency lender Voyager Digital received court approval to begin the liquidation process and pay customers some of their funds in cryptocurrency. Judge Michael Wiles approved Voyager's liquidation proceedings Wednesday, about a month after Binance.US termin ...

He and two other members of top management are accused of negligence and fraud Allegedly the Embed platform was grossly overvalued at purchase its former CEO offered only $1 million for a buyback FTX insists the deal be voided In June 2022 ...

They think the FTX excuses are attempts to justify themselves And remembered all the failures of the Top Managers At yesterday's court hearing, the Creditors Committee took another harsh swipe at BlockFi management. This can be read in the published minutes. C ...

Bankrupt cryptocurrency lender BlockFi announced plans to liquidate its platform because selling the business would not provide significant value to its creditors. That's the conclusion the company's management came to after unsuccessful attempts to get its platform sold ...

A few days ago, the exchange announced an interim distribution of funds There are 15 lawsuits worth more than C$1 million The funds will be paid at market value as of April 15, 2019 Bankrupt Canadian cryptocurrency exchange QuadrigaCX announced the re ...

Singapore court ordered former BitMEX exchange CEO Arthur Hayes to stop publicly insulting co-founder of bankrupt cryptocurrency hedge fund Three Arrows Capital (TAS) Su Zhu. According to the court document, Arthur Hayes is prohibited from making any threats against Su Zh ...

The Internal Revenue Service (IRS) has filed lawsuits worth nearly $44 billion against bankrupt cryptocurrency exchange FTX and its affiliates. In total, the IRS has filed 45 lawsuits against companies, including West Realm Shires (the legal entity of FTX.US), Ledger Hold ...

The funds are needed to pay customers quickly The loan will be provided by parent company Aquila Holdings Bittrex Inc. has received court approval to borrow $7 million in bitcoins. Remind that the U.S. unit of Bittrex Inc.. closed April 30, citing vague cryptocur ...

Apollo, one of the largest alternative investment management companies, is involved in a bid to acquire bankrupt cryptocurrency lender Celsius. This was reported by Coindesk sources. Celsius publicly disclosed potential buyers of its business. Sources specify that Apollo ...

Crypto exchange Bittrex filed for bankruptcy after closing operations in the U.S. due to regulatory pressure. The bankruptcy also applies to several subsidiaries of the exchange. According to a May 8 filing by Bittrex Inc.. to U.S. Bankruptcy Court in Delaware County. ...

Founder of the bankrupt cryptocurrency exchange FTX Sam Bankman-Fried asked the court to drop most of the criminal charges related to the collapse of the site. Sam Bankman-Fried has filed a motion to dismiss 10 of the 13 charges he faced, including fraud, conspiracy and b ...

Australian startup Everledger, specializing in blockchain technology for luxury manufacturers and buyers, filed for bankruptcy and liquidation due to lack of funding. According to a statement from Everledger, despite raising more than $54 million in outside investment. ...

The termination of its deal with Binance.US has forced bankrupt cryptocurrency lender Voyager Digital to begin liquidation proceedings. Voyager Digital has filed a formal notice of commencement of liquidation proceedings with the U.S. Bankruptcy Court for the Southern Dis ...

The new owner will be Miami International Holdings And FTX will receive $50 million to pay creditors Scandalous crypto exchange FTX has received court approval to sell its "subsidiary" LedgerX for $50 million. This will allow them to raise additional capital to p ...

The founder of bankrupt cryptocurrency lender Celsius filed a motion in court to dismiss a lawsuit filed by the New York attorney general's office accusing the entrepreneur of fraud. In January, New York State Attorney General Letitia James sued Alex Maszynski. Allegin ...

The former CEO of the cryptocurrency derivatives exchange BitMEX Arthur Hayes suggested that the bitcoin rate could soar to $1 million due to the bankruptcy of financial institutions. In a series of tweets, Arthur Hayes shared his opinion on the current situation with ban ...

They were accused that the split into 2 "subsidiaries" was a fraud The merger will speed up the return of investors' funds Bankrupt crypto company Celsius agrees to merge its units in the UK and US. It would be their answer to court allegations that the firms sha ...

FTX, a cryptocurrency exchange that is currently bankrupt, recently made an announcement stating that it has decided to delay the sale of its Japanese subsidiary. This decision has been made in order to explore the possibility of reopening the subsidiary. FTX Japan is one of the few licensed c ...

FTX, a bankrupt crypto exchange, has agreed to sell its cryptocurrency derivatives platform LedgerX to Miami International Holdings for $50 million. The sale is still subject to customary closing conditions, including approval from US regulators. The deal is expected to be approved during a sa ...

He said so on the All-In podcast The businessman believes that the "good players" are simply reaping the benefits of FTX and other unscrupulous companies' bankruptcy A new All-In podcast was released last week. Investor, billionaire and cryptocurrency advocate Ch ...

Gemini and Coinbase-supported organizations are set to participate in the auction of bankrupt cryptocurrency lender Celsius' assets. These assets include a considerable fleet of mining equipment, a loan portfolio, and stakes in various startups. The auction itself is scheduled for April 25th. ...

The OTPP Exits Cryptocurrency Investment After $95M Loss on FTX. The Canadian Teachers' Pension Fund of Ontario (OTPP) has decided to abandon its cryptocurrency investment after incurring a loss of $95 million in the bankrupt cryptocurrency exchange FTX. OTPP, Canada's third-largest pension fu ...

Tribe Capital, a Menlo Park-based venture capital firm with over $1.6 billion in assets under management, is reportedly mulling over a $250 million fundraising campaign to relaunch the failed FTX cryptocurrency exchange. The plan is said to involve self-financing at least $100 million and attract ...

BlockFi, the cryptocurrency lending company, has obtained another extension from the court to delay the submission of its final reorganization plan until mid-May. The delay was granted to allow BlockFi more time to finalize its restructuring plan as it considers selling off its assets and is acti ...

As per a report by the consulting firm RTM Group, the number of legal cases associated with cryptocurrencies surged in Russia in 2022, reaching 1758, indicating an increase of almost 15%. RTM Group analysts highlighted that in the previous year, there were 1531 court decisions linked to digital a ...

According to a report by Bloomberg, the cryptocurrency exchange FTX, which has filed for bankruptcy, may resort to utilizing customer payout funds to reboot its operations. The attorney representing Sullivan & Cromwell, Andrew G. Dietderich, informed US Bankruptcy Judge John T. Dorsey that di ...

According to anonymous sources cited by Bloomberg, Cameron and Tyler Winklevoss injected $100 million into their company, Gemini, after being unsuccessful in obtaining external funding. The significance of this amount lies in the fact that it corresponds to the funds that Gemini committed to rest ...

John Ray, the CEO of FTX exchange, has filed a report with the Delaware bankruptcy court, outlining the flaws in the management of the exchange that led to its collapse. The debt restructuring team of the company has found that FTX lacked proper financial and accounting controls, which was one of ...

MtGox, the defunct cryptocurrency exchange, has made an announcement that marks the end of the period for customers to file claims for damages. The exchange has confirmed that those who submitted their applications before the deadline will receive payment soon. However, customers are no longer ...

According to court documents, Voyager and its creditors may be at risk of losing $100 million if the legal objections raised by the US government are not resolved by April 13. In a lawsuit, Voyager's creditors state that there is clear evidence that they will suffer significant losses if a $1 bil ...

The FDIC, the U.S. Federal Deposit Insurance Corporation, has recently announced that customers of Signature Bank who hold cryptocurrency accounts have until April 5th to close their accounts and withdraw their funds. As of March 20th, Flagstar Bank has taken over the operation of 40 former Signa ...

Following a prolonged period of legal disputes, the US government has successfully halted a $1 billion deal between cryptocurrency lender Voyager, which filed for bankruptcy in July 2022, and the Binance.US cryptocurrency exchange. The decision was made by U.S. District Court Judge Jennifer Reard ...

The US Securities and Exchange Commission (SEC) has issued a warning to investors regarding the potential risks associated with investing in crypto assets. The agency has specifically cautioned against relying solely on proof of reserves (PoRs) published by cryptocurrency exchanges, stating that ...

Thank you for providing this news update. It seems that Mysten Labs, a blockchain startup, is in the process of buying back its shares and warrants from FTX, a cryptocurrency exchange that is currently undergoing bankruptcy proceedings. Under the proposed agreement, Mysten Labs would buy back app ...

According to documents obtained by Reuters, the interim management overseeing the bankruptcy proceedings of cryptocurrency exchange FTX has come to a settlement agreement with Modulo Capital, a hedge fund based in the Bahamas. Under the agreement, Modulo will pay $404 million to FTX and relinquis ...

The price of Ripple's XRP has surged to $0.49 per digital coin, marking its highest value since November 2022. This sudden growth is attributed to the increased likelihood of Ripple settling the SEC lawsuit against it. Interestingly, this chance came about in a third-party case involving the bank ...

The Financial Services Commission of the US Congress's House of Representatives has set up hearings for March 29th to investigate the underlying causes behind the bankruptcies of Silicon Valley Bank and Signature Bank. The Blockchain Association, a pro-crypto lobbying group, has utilized the Free ...

In the Southern District of New York, a $1 billion deal between Voyager and Binance.US has been the subject of much legal debate. The US government had originally proposed a hold on the deal, citing concerns that the agreement would indemnify Voyager and its employees from potential tax or securi ...

Amidst an ongoing investigation by law enforcement into FTX and its subsidiary, Alameda Research, someone has made a hefty withdrawal of 69.64 million USDT stablecoins and 75.94 million USDC from affiliated wallets. According to the Lookonchain service, funds from three wallets linked to bankrupt ...

The U.S. arm of cryptocurrency exchange Binance has been prohibited by U.S. authorities from selling the assets of bankrupt crypto lender Voyager until major legal objections have been addressed. The Southern District of New York Attorney, Damian Williams, has stated that the approval of the deal ...

The cryptocurrency market appears to be bracing for further upheavals as the value of BTC experiences a significant 5% drop to $22,250. This follows reports of possible bankruptcy for Silvergate bank, a crucial financial institution that serves some of the largest crypto firms. In response, Si ...

During a Senate Banking Committee meeting, US Democratic Senator and Chairman of the Committee, Sherrod Brown, emphasized the need for a comprehensive regulatory framework for cryptocurrencies to safeguard investors from losing their funds. Brown cited a series of bankruptcies within the cryptocu ...

FTX Japan, a subsidiary of the FTX exchange, which is currently undergoing bankruptcy proceedings, has announced that its customers will be able to receive their funds in February. The exchange has sent notifications to its customers, informing them that they can now verify their bank accounts an ...