8 / 21 Relevant items tagged with #Bankruptcy

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Voyager customers targeted by scammers during 30-day withdrawal period: Report

[Aug 1, 2023 2:29 PM] Phony websites offered customers a premium for claiming through them. In reality, they drained customers’ wallets.

FTX Unveils Reorganization Strategy, Proposing ‘Offshore Crypto Exchange’ and New Trust

[Aug 1, 2023 11:30 AM] In the midst of the bankruptcy proceedings, FTX presented its primary reorganization strategy and term sheet to the U.S. bankruptcy court, detailing an ambitious plan to reinvent FTX as an “offshore crypto exchange” while also founding a new…

FTX.com releases restructuring plan, hints at rebooted offshore exchange

[Aug 1, 2023 6:54 AM] Reams of dockets from FTX.com have been filed alongside a proposed reorganization plan which could see FTX resurrected as an offshore exchange.

DCG Says It Sees Resolving Genesis Chapter 11 Bankruptcy Soon

[Jul 31, 2023 11:27 AM] Digital Currency Group comments on the restructuring in an investor letter.

Bankruptcy Tussle Between Crypto Firms FTX and Genesis Nears Resolution 

[Jul 28, 2023 5:30 PM] The long-standing legal feud between FTX Trading and Genesis Global Holdco is taking a turn towards resolution. The two parties have reached an initial agreement, in principle, following bankruptcy protection disputes that have made industry…

FTX, Genesis reach in-principle agreement to settle bankruptcy case

[Jul 28, 2023 12:01 AM] FTX and Genesis lawyers have sent a letter to the bankruptcy judge regarding a settlement agreement.

Prosecutors Want Sam Bankman-Fried Jailed Ahead of Trial

[Jul 27, 2023 8:00 AM] U.S. prosecutors have asked a federal judge to put crypto exchange FTX founder Sam Bankman-Fried in jail over alleged witness tampering before his trial starts in October. While requiring the prosecution to formalize the request and giving the…

Celsius Network reaches settlements to exit bankruptcy

[Jul 22, 2023 9:59 AM] Bankrupted crypto lender Celsius Network reached two settlements that may allow the return of assets to customers and end its bankruptcy proceedings.

FTX Sues SBF, Former Execs to Recover Over $1 Billion

[Jul 21, 2023 11:30 PM] Crypto exchange FTX is trying to regain $1 billion in a lawsuit against founder Sam Bankman-Fried (SBF) and some former executives. FTX’s new management argues the funds were misappropriated through dubious deals and transactions made before the…

Sam Bankman-Fried’s brother planned to buy island and prep for apocalypse: court filing

[Jul 21, 2023 12:49 PM] According to court documents, Gabriel Bankman-Fried wrote a memo to the FTX Foundation with a plan to build a bunker to survive “some event where 50%-99.99% of people die."

Securities Commission Cancels FTX Australia’s License

[Jul 21, 2023 3:30 AM] Australia’s securities regulator has canceled the license of the local FTX entity, allowing it to perform only limited financial services. These will be related to the termination of derivatives with clients and arrangements to compensate retail…

FTX sues over investments, donations made by charity arm to life sciences companies

[Jul 20, 2023 1:25 PM] The money was intended to add to Bankman-Fried’s political influence and goodwill and did not benefit FTX or Alameda Research.

FTX Users Potentially Targeted in Possible Phishing Attack as Bankruptcy Claims Deadline Nears

[Jul 20, 2023 8:45 AM] Multiple FTX users have received a "reset password" request from the defunct exchange's official email address as it appears a hacker is attempting to secure control of user's bankruptcy claims.

FTX Seeks to Recover $71M From Its Philanthropic and Life Science Arms

[Jul 20, 2023 1:04 AM] The firms funneled corporate funds to other organizations on behalf of their founder Sam Bankman-Fried’s "personal aggrandizement," a court filing shows.

Celsius could repay all claims if Bitcoin, Ether prices rose 2X — Simon Dixon

[Jul 19, 2023 4:59 AM] Dixon said creditors should fight to get out of the bankruptcy proceedings before the end of 2023, or before the price of BTC and ETH hit the estimated mark.

Ripple Court Ruling Unlikely to Impact Celsius Wind-Up, Crypto Lender’s Counsel Says

[Jul 18, 2023 9:21 AM] Crypto securities ruling could impact pricing of CEL token but won’t affect restructuring plans, the counsel said.

BlockFi Bet Big on FTX and Alameda Even After Seeing Infamous Balance Sheet, Creditors Say

[Jul 17, 2023 10:08 AM] The crypto lender saw “the exact same balance sheet” later published by CoinDesk but still put clients' money in Sam Bankman-Fried’s companies, a scathing new report claims.

Celsius Moves $59M of Altcoins in Possible Prelude to Converting Into BTC, ETH

[Jul 17, 2023 9:10 AM] The U.S. bankruptcy court granted the crypto lender permission to sell its altcoin holdings for BTC and ETH starting in July.

BlockFi CEO ignored risks from FTX and Alameda exposure, contributing to collapse: Court filing

[Jul 14, 2023 2:00 PM] Crypto lending firm BlockFi had roughly $1.2 billion in assets tied to FTX and Alameda Research when the firm filed for bankruptcy in November 2022.

FTX, Celsius Bankruptcy Claims Can Now Be Sold on OPNX

[Jul 14, 2023 6:00 AM] Users who held assets on bankrupt crypto firms FTX and Celsius Network can now trade their claims on the Open Exchange (OPNX).

Celsius Reorganization Not Affected by $4.7B Settlement With U.S., Bankrupt Crypto Lender Says

[Jul 13, 2023 3:40 PM] That includes customer recoveries, the bankruptcy crypto lender said Thursday.

SEC Sues Bankrupt Crypto Lender Celsius, Alleges Misrepresentation of Customer Count and Risky Practices

[Jul 13, 2023 1:30 PM] The U.S. Securities and Exchange Commission has filed a lawsuit against the now-defunct cryptocurrency lender, Celsius. The suit, filed Thursday, also names former CEO Alexander “Alex” Mashinsky as a defendant. Both he and the company…

Temasek Has No Immediate Intentions to Invest in Crypto Exchanges After FTX Loss

[Jul 13, 2023 2:30 AM] Singapore’s state-owned investment fund Temasek does not plan to put money into crypto firms amid the current regulatory uncertainty, according to a top executive. The statement comes months after Temasek lost $275 million from its involvement in…

FTX Bankruptcy Lawyers Ask Court for $323M Recovery From FTX Europe Leadership

[Jul 12, 2023 11:57 PM] Crypto exchange FTX's lawyers have asked the bankruptcy court in Delaware to award recovery of more than $323.5 million from FTX's Europe leadership.

Celsius Takes Legal Action Against StakeHound For Withholding $150 Million

[Jul 12, 2023 9:00 AM] Bankrupt cryptocurrency lender, Celsius Network, has filed a lawsuit against Liquid Staking Platform StakeHound. The crypto lender claims that Stakehound allegedly owes $150 million worth of tokens, including ether (ETH), Polygon’s MATIC…

FTX claims portal becomes unavailable shortly after going live

[Jul 11, 2023 1:32 PM] Users affected by the bankruptcy of FTX or certain subsidiaries have the option of filing a proof of claim through Kroll’s online customer form and via U.S. mail.

Mt. Gox repayment date looming: Is Bitcoin in trouble?

[Jul 11, 2023 5:39 AM] As the Mt. Gox repayment deadline scheduled for October approaches, crypto observers expect a major industry event coming up this fall.

Distressed Crypto Specialist Thomas Braziel Sets Up Investment, Advisory Firm

[Jul 10, 2023 4:10 AM] The company, 117 Partners, will be a hybrid between advisory and investment, said Braziel.

Bittrex Faced Enforcement Action From Florida Regulator Ahead of Bankruptcy

[Jul 6, 2023 2:53 AM] The state's financial regulator accused the U.S. firm of violating multiple state laws, and was looking to explore settlement avenues, court filings show.

BlockFi Bankruptcy Plans Opposed by FTX, Three Arrows, and SEC

[Jul 6, 2023 2:51 AM] Multiple defunct crypto companies are now scrambling to resolve complex financial ties as they seek to repay creditors and customers