1 / 21 Relevant items tagged with #Bankruptcy

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Bankrupt Cryptopia exchange distributes $225M to hack victims

[Dec 20 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 8:56 AM] Over 94% of creditors voted in favor of the plan, which promises to return 118% of their claims in cash.

FTX Token spikes 70% amid looming bankruptcy distributions

[Sep 30 11:19 AM] The native token of the bankrupt crypto exchange FTX has seen sharp bullish action amid looming bankruptcy distributions.

Terraform Labs may close products, services in bankruptcy wind-down

[Sep 25 8:24 PM] Get it before Oct. 30, Terraform Labs tells the third parties it is discussion its wind-down with.

SBF’s neurodivergence saw him ‘misinterpreted’ at trial, doctors argue

[Sep 24 3:30 AM] The court and jury could have misunderstood Sam Bankman-Fried’s behavior during his criminal trial due to his autism and attention deficit disorders, doctors wrote in a recent amicus brief.

Blockfi Receives $250M USDC Deposit, Sparking Hopes for Creditor Repayments

[Sep 23 6:40 PM] Onchain data reveals that Blockfi, a now-bankrupt crypto lending firm, received a hefty $250 million deposit (1, 2) to one of its flagged addresses, as reported by Arkham Intelligence. The news was shared on X at 12:43 p.m. EDT on Monday…

Court approves Terraform Labs winding down in bankruptcy hearing

[Sep 19 9:55 PM] After collapsing in 2022, facing an SEC lawsuit in 2023, and filing for bankruptcy in 2024, many of Terraform’s legal cases in the US are beginning to wind down.

Terraform Labs Gets Court Approval to Wind Down Operations in Bankruptcy

[Sep 19 9:10 PM] Terraform Labs has received court approval to wind down operations in bankruptcy following a settlement with the U.S. Securities and Exchange Commission (SEC). The company had been at the center of a scandal that left cryptocurrency investors…

Silvergate Capital files for Chapter 11 bankruptcy in Delaware

[Sep 18 5:45 PM] The parent company of Silvergate Bank has listed assets ranging from $100 million to $500 million and liabilities between $10 million and $50 million.

Elon Musk Warns US Laws and Regulations Will Worsen Every Year Without Major Reform

[Sep 13 2:30 AM] Tesla and Spacex CEO Elon Musk has warned that without substantial government reform, laws and regulations will worsen annually, potentially stifling major initiatives. He has reiterated his call for significant U.S. government changes and agreed…

FTX finalizes settlement with Emergent over $600M Robinhood shares claim

[Sep 10 4:32 AM] FTX debtors will pay Emergent $14 million to cover administrative expenses in exchange for the firm withdrawing any claims to $600 million in Robinhood shares and cash.

Coinbase Legal Chief Criticizes SEC’s Vague Position on FTX Plan — Says Investors Deserve ‘Way Better’

[Sep 2 11:30 PM] Coinbase’s chief legal officer has criticized the U.S. Securities and Exchange Commission (SEC) for its ambiguous position regarding FTX’s proposal to repay creditors using stablecoins or other cryptocurrencies. Although the SEC did not…

SEC Warns FTX Over Legality of Crypto Asset Distribution in Chapter 11 Plan

[Sep 2 3:20 PM] The U.S. Securities and Exchange Commission (SEC) has raised concerns over FTX’s plan to pay back claims using its “crypto asset securities.” The SEC’s Senior Trial Counsel, Therese Scheuer, has reserved the right to challenge these…