1 / 22 Relevant items tagged with #Bankruptcy

Posts

Customers Could Be Crushed—Expert Flags Deep Risk for Linqto Investors

[Jul 13 5:30 AM] A dire warning signals investors should be “very concerned” as Linqto’s bankruptcy exposes collapsed legal structures, pooled customer assets, and looming reclassification as unsecured creditors. Linqto Collapse Is a ‘Brutal…

Linqto Files Bankruptcy Amid Legal Probes and Corporate Structure Issues

[Jul 9 1:40 AM] Linqto’s Chapter 11 bankruptcy filing exposes deep structural flaws and regulatory pressure that could upend investor ownership rights and rattle confidence in private equity access platforms. Linqto’s Chapter 11 Filing Sparks Questions Over…

$1.5B in Crypto Still Sits in the Ruins of Firms Like FTX, Terraform, Celsius, and Blockfi

[Jun 15 7:30 PM] Over the past few years, a wave of digital asset firms collapsed for a mix of reasons—some dragged down by earlier disasters like the FTX and Terraform Labs fiascos. Here’s a closer look at a handful of wallets tied to those now-defunct ventures…

FTX Creditors to Receive Over $5B in Second Payout Starting May 30

[May 15 8:10 PM] The FTX Recovery Trust explained on Thursday that it will distribute more than $5 billion to creditors starting May 30, 2025, as part of its court-approved Chapter 11 bankruptcy reorganization plan. Distribution Date Set for FTX’s $5B Creditor…

Ex-Celsius CEO Alex Mashinsky Seeks 1-Year Sentence, Rejects DOJ’s 20-Year Proposal

[May 6 1:48 PM] Former Celsius CEO Alex Mashinsky is seeking a one-year prison sentence, sharply contesting the Department of Justice’s (DOJ) recommendation of 20 years for fraud and market manipulation tied to the cryptocurrency platform’s 2022 collapse…

FTX Estate to Begin Repaying Main Creditors $11.4B in Cash by May 2025

[Mar 30 5:49 PM] The bankrupt cryptocurrency platform FTX aims to initiate repayments to primary creditors by May 30, 2025, deploying an $11.4 billion liquidity pool amassed since its 2022 downfall, Bloomberg revealed this week. Bankrupt FTX Creditors to Receive…

Elon Musk Urges Public to Help DOGE as US Bankruptcy Looms

[Feb 18 1:30 AM] Elon Musk warns America is on the brink of financial collapse. Urgent help is needed to expose government waste before uncontrolled spending drives the nation to ruin. US Bankruptcy Looms—Elon Musk Says Only ‘Radical Action’ Can Save It…

Bankrupt FTX Sets Initial Payout Date for 2025, Partners With Bitgo and Kraken

[Feb 11 3:30 PM] FTX will initiate repayments to Convenience Class creditors on Feb. 18, 2025, nearly three years after its November 2022 bankruptcy filing. FTX Creditors to Receive First Distributions Starting Feb. 18, 2025 Eligible creditors in FTX’s Convenience…

Backpack Exchange acquires FTX EU, plans Q1 2025 launch

[Jan 7 8:00 AM] As part of the acquisition, Backpack EU will be responsible for distributing court-approved bankruptcy claims to FTX EU customers.

FTX’s payment plan is now effective — When will users see their funds?

[Jan 3 8:58 PM] According to the plan, certain FTX users claiming less than $50,000 could expect to see their funds returned within 60 days.

Celsius to appeal order that disallowed its $444M claim against FTX

[Jan 2 3:48 AM] The crypto lender made two claims, both of which were dismissed by Judge Dorsey for various reasons, including procedural shortcomings.

Bankrupt Cryptopia exchange distributes $225M to hack victims

[Dec 20, 2024 8:32 AM] Initially owing creditors $4.2 million, Cryptopia’s liquidator Grant Thornton has distributed at least $225 million in crypto to hack victims in December.

Kraken and BitGo will help distribute the first FTX payments in 2025

[Dec 16, 2024 6:50 PM] More than two years after the cryptocurrency exchange filed for bankruptcy, the first group of FTX claimants could see recovery payments distributed as early as January.

FTX debtors recover $14M in political donations

[Dec 11, 2024 8:09 PM] A bankruptcy court filing showed FTX’s debtors reached settlements with political action committees and state-level Democratic parties over political contributions.

Enron relaunch headed by pranksters hints at offering crypto token

[Dec 4, 2024 3:49 AM] Enron is back from the dead 23 years after its massive fraud put into bankruptcy, with the pranksters who have seemingly taken over the brand hinting at launching a token.

FTX provides a timeline for creditor and client reimbursement payouts

[Nov 21, 2024 8:34 PM] After two years of bankruptcy hearings, FTX creditor reimbursements are set to begin, but the FTX estate remains embroiled in litigation.

FTX filed for bankruptcy 2 years ago — What’s happening now?

[Nov 11, 2024 9:50 PM] The exchange’s creditors haven’t been made whole despite a judge approving a plan, and sentencing for former executives is nearing an end.

FTX Sues Binance, Former CEO CZ for $1.8B

[Nov 11, 2024 12:14 PM] The filing alleges that FTX was already insolvent and the FTT tokens used in a share repurchase transaction were worthless, and therefore the transfer should be classed as fraudulent.

Alameda Research files $90M ‘aggressive’ lawsuit against Waves founder

[Nov 11, 2024 9:27 AM] FTX and Alameda’s “aggressive legal strategy” highlights the complexity of their financial issues after suing over 20 entities for funds, according to blockchain experts.

FTX tries to reclaim $11M from Crypto.com-controlled Alameda account

[Nov 8, 2024 9:40 PM] Alameda Research has filed complaints against crypto exchange KuCoin and Crypto.com to recover millions in locked funds as FTX prepares to repay users.

California revokes BlockFi’s lending license 2 years after bankruptcy

[Nov 8, 2024 10:01 AM] Bankrupt and now defunct BlockFi has entered into a settlement agreeing to the license revocation and to cease unsafe practices.

FTX estate sues KuCoin to recover over $50M in assets

[Oct 29, 2024 3:25 PM] The assets were initially valued at $28 million but now exceeded $50 million due to market fluctuations. The assets have been frozen by KuCoin since FTX's collapse in November 2022.

FTX's $228M Settlement With Bybit Brings Conclusion of Epic Liquidation Closer

[Oct 28, 2024 5:08 PM] The costly meltdown of global exchange FTX is still settling big chunks of its bankruptcy drama, now securing about $228 million from Bybit to further feed the cash dispersal that was approved in court earlier this month.

FTX settles lawsuit against the Bybit exchange for $228 million

[Oct 27, 2024 5:03 PM] The prices of Bitcoin and other digital assets were significantly lower during the 2022 collapse of FTX compared to current market prices.

Former FTX Customer Sues Hedge Fund, Says It Reneged on Bankruptcy Payout Deal

[Oct 11, 2024 9:16 AM] Alexander Nikolas Gierczyk of California says the hedge fund he sold his FTX bankruptcy claim to isn't paying out what it promised.

US Supreme Court knocks back case over $4.4B Silk Road Bitcoin

[Oct 8, 2024 4:47 AM] The top court in the US won’t hear Battle Born Investments’ case claiming it purchased rights to 69,370 Bitcoin seized by the US from the online black market Silk Road.

Delaware Judge Approves FTX Estate’s Bankruptcy Plan

[Oct 7, 2024 8:50 PM] A U.S. court approved FTX’s bankruptcy plan on Monday, which will see the majority of the crypto exchange’s customers get the equivalent of their 2022 losses, and then some.

Bankruptcy judge approves FTX’s reorganization plan

[Oct 7, 2024 7:43 PM] Roughly two years after the crypto exchange collapsed and many of its executives faced criminal charges, the Oct. 7 court decision was a step forward for reimbursing FTX users.

FTX bankruptcy estate auctioning Worldcoin tokens this week

[Oct 2, 2024 9:17 PM] According to CoinGecko, Worldcoin currently has a market capitalization of approximately $792 million and a 494 million circulating supply.

FTX Dotcom Creditors Vote Massively in Favor of Reorganizing Plan

[Oct 1, 2024 8:56 AM] Over 94% of creditors voted in favor of the plan, which promises to return 118% of their claims in cash.