9 / 21 Relevant items tagged with #Bankruptcy

Posts

Creditors for bankrupt Voyager Digital billed $5.1M in legal fees

[Jul 4, 2023 4:41 AM] Voyager is not the only crypto firm incurring hefty legal fees; FTX, for example, has been billed over $120 million in fees.

Three Arrows Founders to Donate Future Earnings to Creditors in Spirit of 'Karma'

[Jul 3, 2023 2:31 PM] The founders of the hedge fund that filed for bankruptcy last year have started an exchange for creditor claims, which is seeing $50 million in trading volume, said Davies.

How Much Is Too Much to Spend on FTX's Bankruptcy?

[Jun 30, 2023 11:16 AM] Are Sam Bankman-Fried’s victims being ripped off a second time?

Bankrupt Celsius Can Convert Altcoins to BTC, ETH Starting July 1 Following SEC Talks

[Jun 30, 2023 8:22 AM] Creditor distributions will only be made in the two most popular cryptocurrencies, the company said

FTX Pauses Sale of $500 Million Stake in AI Startup Anthropic

[Jun 29, 2023 10:30 PM] Failed crypto exchange FTX has unexpectedly halted the sale of its stake in the artificial intelligence (AI) startup Anthropic. The stock has been viewed as a source of funds that can be used to compensate customers who suffered losses as a result…

Report: FTX Management Seeks Investors to Revive Defunct Crypto Exchange; Exchange Token FTT Surges

[Jun 29, 2023 1:30 PM] FTX management is actively seeking potential participants to revive the formerly defunct crypto exchange, as reported by sources knowledgeable about the situation. CEO John J. Ray III and other FTX executives have reportedly engaged in preliminary…

FTX Customers Have Until End-September to Submit Bankruptcy Claims

[Jun 29, 2023 2:48 AM] Former customers will receive an email containing a link to the Customer Claims Portal.

Voyager to pay $1.1M in legal fees incurred in April

[Jun 28, 2023 5:07 AM] Certain members holding high positions within the firm bill an hourly rate exceeding $2,000 for their professional services.

‘End the Extortion:’ BlockFi Creditors File to Liquidate Estate

[Jun 28, 2023 1:53 AM] Creditors accuse CEO Zac Prince of defrauding customers and the company of “mischief” in delaying a wind-up.

3AC liquidators look to recoup $1.3B from founders

[Jun 27, 2023 9:45 AM] The report came exactly one year since a court in the British Virgin Islands ordered Three Arrows Capital into liquidation.

Three Arrows Capital Liquidators Seek $1.3B From Bankrupt Hedge Fund's Founders: Bloomberg

[Jun 27, 2023 9:31 AM] The fund founded by Su Zhu and Kyle Davies suffered big losses on the collapse of the Terra ecosystem starting in May 2022 and took on additional leverage despite already being insolvent, the liquidators say.

FTX Bankruptcy Team Says the Exchange Owed Customers $8.7B

[Jun 26, 2023 11:40 AM] Commingling and misuse of customer and corporate funds occurred from the inception of FTX, says current CEO John J. Ray III.

SEC Relinquishes $30M BlockFi Penalty Until Investors Are Repaid

[Jun 23, 2023 2:26 AM] The regulator agreed to forego the payment, owed as part of a settlement of charges against BlockFi, to maximize and speed up payments to investors.

FTX seeks to claw $700M from Bankman Fried friends and affiliated funds

[Jun 22, 2023 5:30 PM] After a Hollywood dinner party, hundreds of millions of dollars of “avoidable” transfers were sent from Alameda to investment firm K5 Global, the suit alleges.

Bitcoin miner Core Scientific files its Chapter 11 plan

[Jun 21, 2023 2:56 AM] The bankruptcy plan explained that holders of allowed debtor-in-possession claims would receive full and final satisfaction of their claims.

FTX bankruptcy will be ‘very expensive’ but there’s a reason: Auditor

[Jun 21, 2023 12:01 AM] The legal fees charged in the first months of FTX’s bankruptcy have been examined by an auditor, who has confirmed the case is “on track to be very expensive.”

VC Chamath Palihapitiya Warns of Chaos in the Equity Market Due to Debt Issues

[Jun 20, 2023 1:00 AM] Chamath Palihapitiya, CEO of VC company Social Capital, has warned about a looming crisis in equity markets due to the issuance of low-interest debt. According to Palihapitiya, this might be the “biggest business secret hiding in plain sight…

Twitter Divided as Speculations Swirl Around FTX 2.0 Reboot: Supporters Rally for Revival, Opponents Skeptical

[Jun 18, 2023 12:30 PM] Twitter users have been engaged in a lively discussion about the possibility of a reboot for the FTX estate, following recent reports in late May. Opinions on the matter are divided, with opponents of the idea expressing their reservations, while…

Bittrex US Allows Fiat and Crypto Withdrawals Amid Bankruptcy Proceedings

[Jun 16, 2023 5:30 PM] Bittrex US, the now-defunct cryptocurrency exchange in the United States, has recently introduced a plan that permits American customers to withdraw crypto and fiat from the platform, provided they satisfy the required regulatory criteria. This…

Token Sale Ahead: Celsius to Convert Customer ‘Altcoins’ to BTC and ETH

[Jun 15, 2023 5:30 PM] Amid the regulatory crackdown in the United States, the bankrupt crypto lender Celsius has announced that all of its customers’ “altcoins” will be converted to bitcoin (BTC) and ethereum (ETH). Over $215 million worth of coins…

Fed, SEC investigate Goldman Sachs over Silicon Valley Bank's securities portfolio: Report

[Jun 15, 2023 3:43 PM] Both regulatory bodies are inquiring into the activities of Goldman Sachs during its unsuccessful capital raise preceding the downfall of Silicon Valley Bank.

Celsius seeks to convert alts to Bitcoin and Ether under reorganization plan

[Jun 15, 2023 6:50 AM] The crypto lender has proposed converting all its altcoin holdings into Bitcoin and Ethereum to quell growing regulatory concerns and maximize the value of its assets.

Crypto Lender Celsius Updates Bankruptcy Plan After Fahrenheit Deal

[Jun 15, 2023 2:24 AM] The new filing is set to face legal opposition from borrowers.

Custodian Prime Trust’s Payments Subsidiary Banq Files for Chapter 11 Bankruptcy Protection

[Jun 14, 2023 5:30 PM] Shortly after the custodian Bitgo announced its acquisition of the company Prime Trust, its payments subsidiary, a firm called Banq, filed for Chapter 11 bankruptcy protection in the United States. According to court documents, the filing reveals…

Bankrupt Crypto Exchange Bittrex U.S. Set to Allow Withdrawals Starting Thursday

[Jun 14, 2023 2:48 AM] The move follows a Tuesday ruling from a Delaware court.

Prime Trust Unit Banq Files for Bankruptcy

[Jun 14, 2023 12:17 AM] Bankruptcy filing comes as TrueUSD stops redemptions and Haru Invest ceases operations citing problems with an unnamed partner.

Crypto Lender Genesis Amends Reorganization Plan as Mediated Talks Continue

[Jun 13, 2023 9:58 AM] The updated plan from mediated discussions with parent company DCG reflects “substantial agreement” on several key issues.

Digital Asset Trust Firm Bitgo Sets Sights on Prime Trust Acquisition 

[Jun 9, 2023 3:30 PM] In a recent development, Bitgo, the digital asset trust firm, disclosed that it has penned a letter of intent to acquire Prime Trust, a crypto custodian based in Nevada. Should the acquisition proceed, Prime Trust would become an integral part of…

FTX argues releasing ‘valuable’ customer list will harm its sale value

[Jun 8, 2023 11:35 PM] Releasing the nine million-strong list of customers would “impair” the ability to maximize value for FTX creditors, a banker for the exchange said.

US DOJ opposes bankrupt Bittrex’s plan to repay customers ahead of credited fines

[Jun 8, 2023 11:06 AM] Bittrex owes $29 million on penalties for sanctions violations and may still face penalties in a case brought by the SEC.