5 / 21 Relevant items tagged with #Bankruptcy

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Genesis Sues Gemini to Recover 'Preferential Transfers' Worth $689M

[Nov 22, 2023 1:34 AM] Crypto lender Genesis Global Capital has sued cryptocurrency exchange Gemini Trust, its former business partner, to recover more than $689 million.

Celsius to Transition to Mining-Only NewCo After SEC Feedback in Updated Bankruptcy Plan

[Nov 21, 2023 1:55 AM] Crypto lender Celsius will transition to a new company that focuses only on Bitcoin mining, a shift from an earlier reorganization plan that included a focus on staking too.

3AC co-founder Kyle Davies spotted in Bali, sources claim

[Nov 16, 2023 7:55 AM] Sources claim that 3AC co-founder Kyle Davies has been based in Bali for months as he continues to evade Singaporean authorities over the collapse of his failed hedge fund.

FTX, BlockFi claims settlement allowed to proceed, judge declares

[Nov 14, 2023 7:36 AM] A U.S. bankruptcy court judge has ordered the end of an automatic holding placed on claims settlement proceedings between the two bankrupt crypto companies FTX and BlockFi.

FTX Can Start Mediation, File Counterclaims in BlockFi Bankruptcy Case, Judge Rules

[Nov 14, 2023 5:20 AM] BlockFi filed for bankruptcy in late November last year, in part because of the ripple effects of the sudden collapse of FTX, which triggered an automatic stay that halted proceedings between the two.

Singapore High Court Mandates Hodlnaut Liquidation, Sets Stage for 17,000 Customer Reimbursements 

[Nov 14, 2023 3:30 AM] In a dramatic culmination to a turbulent period for Hodlnaut, the Singapore High Court has ordered the crypto lender’s liquidation, tasked with the daunting goal of reimbursing its 17,000 customers. The judicial decree follows…

FTX Sues Bybit to Claw Back $953M in 'Misappropriated Funds'

[Nov 13, 2023 10:48 AM] The FTX estate says the funds were "preferentially" or "fraudulently" transferred to Bybit and affiliates in the lead-up to its November 2022, bankruptcy filing.

Genesis, Three Arrows Capital Reach Agreement on $1B of Claims

[Nov 13, 2023 4:59 AM] The bankrupt crypto lender is seeking court approval to settle the claims with a $33 million payment to defunct hedge fund 3AC.

FTX files billion-dollar lawsuit against ByBit over asset withdrawals

[Nov 12, 2023 2:25 AM] The legal action is pursuing “compensatory and punitive damages” from ByBit regarding the token scheme and the assets held on its platform.

We've Seen the FTX Collapse Before

[Nov 10, 2023 4:09 PM]

Hodlnaut heading for liquidation after failure of restructuring, sale efforts

[Nov 10, 2023 11:49 AM] Recovery from the crypto winter is proceeding, but Hodlnaut won’t survive it. A sealed court order in Singapore appears to spell its doom.

Celsius Bankruptcy Reorganization Plan Approved by Court; Implementation by Early 2024

[Nov 10, 2023 6:31 AM] Crypto lender Celsius secured approval for its reorganization plan from a bankruptcy court on Thursday, marking an end to an ordeal that began when it filed for bankruptcy in July last year.

Court confirms Celsius bankruptcy exit plan, $2B in crypto to go to creditors

[Nov 9, 2023 2:14 PM] The decision ends the complex case with a creditor-approved plan that will see their partial reimbursement and make them shareholders in a new company.

Celsius Winner Proof Group Is in Running to Relaunch FTX, Sources Say

[Nov 6, 2023 11:03 AM] The Silicon Valley investment firm was part of the Fahrenheit consortium that successfully bid for bankrupt cryptocurrency lender Celsius.

FTX Wants to Sell $744M Worth of Grayscale, Bitwise Assets

[Nov 6, 2023 12:30 AM] Bankrupt crypto exchange FTX and its debtors have asked the U.S. Bankruptcy Court in Delaware to approve the sale of trust assets, funds of Grayscale and Bitwise amounting to an estimated $744m, through an investment adviser.

A Year After Sam Bankman-Fried's Downfall, Solana and Other FTX Holdings Are Flying High

[Nov 1, 2023 6:00 PM] The value of FTX's stake in Solana's SOL token, for instance, has just added $1 billion in two weeks.

Judge Urges for SEC Decision on Planned Celsius Restart as Crypto Miner

[Oct 31, 2023 9:30 PM] America’s securities regulator has been urged to decide if it will approve a plan to transform Celsius Network into a bitcoin mining firm. The proposal seeks to repay customers of the bankrupt cryptocurrency lender with both crypto assets and stock…

Gemini sues Genesis over GBTC shares used as Earn collateral, now worth $1.6B

[Oct 27, 2023 2:29 PM] Genesis wants to use the shares’ initial value in claims and is not releasing additional collateral transferred by DCG, the suit claims.

FTX Moves Millions Worth of LINK, MATIC, AGLD to Coinbase as Sam Bankman-Fried Testifies

[Oct 26, 2023 1:04 PM] The latest transactions followed $19 millions worth of crypto moved from FTX cold wallets to exchanges.

FTX Cold Wallets Move $19M in Solana, Ether to Crypto Exchanges

[Oct 26, 2023 2:46 AM] The debtor group in control of FTX assets has conducted various on-chain transactions in the past few weeks.

FTX probes $6.5M in payments to AI safety group amid clawback crusade

[Oct 25, 2023 10:50 PM] Bankrupt crypto exchange FTX wants to look into millions it had given to the Center for AI Safety, a nonprofit that has argued AI should be a global priority next to pandemics and nuclear war.

Sam Bankman-Fried’s Defunct Exchange FTX Receives Multiple Bids for Restart

[Oct 25, 2023 4:20 AM] Options also include a sale of the exchange, which boasted 9 million users before going bankrupt.

FTX navigates post-bankruptcy options, weighs sale or revival

[Oct 25, 2023 3:31 AM] Options reportedly include selling the entire exchange, including its extensive customer base of over nine million, to potentially forming a partnership with another entity to revive the platform.

BlockFi emerges from bankruptcy and opens wallet withdrawals

[Oct 24, 2023 1:26 PM] BlockFi announced that it is allowing both U.S. and international users to submit withdrawal requests.

FTX Creditors' Lawyers Promote Deal Giving Investors 90% of What's Left in SBF's Empire

[Oct 23, 2023 1:18 PM] A deal was secured to pay those who had money at defunct FTX as much as 90% of the assets that remain, and now the lawyers representing some creditors are trying to get enough of those investors on board to make it happen.

FTX Estate Proposes Recovery Plan With 90% Asset Return Expected 

[Oct 19, 2023 2:30 AM] The now-defunct FTX crypto exchange announced a proposed settlement plan this week that aims to resolve disputes over customer assets lost when the company filed for bankruptcy in November 2022. FTX Debtors Chart Path to Redress: 90% Asset Recovery…

Evergrande’s Economic Tremors Trigger Bank Run in Northern China

[Oct 16, 2023 5:30 PM] Several reports say that the major Chinese real estate developer Evergrande’s downfall triggered a bank run in northern China last week. The bank run began after rumors spread that the financial institution, Bank of Cangzhou, allegedly loaned…

Caroline Ellison desired to step down but feared a bank run on FTX

[Oct 13, 2023 3:45 PM] Former Alameda CEO Caroline Ellison recognized she wasn't doing a good job months before the company filed for bankruptcy, but Sam Bankman-Fried persuaded her to stay.

Court approves Genesis settlement of $175M to FTX, expunges billions in claims

[Oct 12, 2023 5:00 AM] Genesis reportedly said the $175 million settlement was “fair and equitable,” while FTX creditors wanted to contest it.

Binance, Snapchat and capital among things SBF was 'freaking out about'

[Oct 11, 2023 6:17 PM] Former FTX CEO Sam Bankman-Fried was once “freaking out about” getting regulators to crack down on Binance and raising capital from a Saudi Crown Prince, according to Alameda former CEO Caroline Ellison.