Crypto Exchange Bittrex’s Customer-Repayment Plan Faces U.S. Government Objection
[Jun 8, 2023 2:21 AM] If successful, it wouldn’t be the first time the state has scuppered a crypto bankruptcy proposal.
10 / 21 Relevant items tagged with #Bankruptcy
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Bankers Shopping FTX's 'Hundreds of Millions of Dollars' Stake in AI Startup: Report
[Jun 6, 2023 7:45 AM] At the time of its bankruptcy last November, FTX may have owned as much as $500 million worth of stock in Anthropic, the creator of ChatGPT rival Claude.
Genesis Bankruptcy Judge Extends Mediation Period Between Genesis, Creditors
[Jun 5, 2023 3:42 PM] The insolvent lender will now have until August 2 to submit a plan to emerge from bankruptcy.
New York’s Met Museum Agrees to Return $550K in FTX Donations
[Jun 5, 2023 3:24 AM] The bankrupt crypto company is seeking the return of funds sent by Sam Bankman-Fried’s empire before its November collapse.
Defunct Crypto Hedge Fund 3AC Insists on Taking Part in Genesis Mediation
[Jun 5, 2023 2:34 AM] The defunct crypto hedge fund has claimed over $1 billion against Genesis, which itself filed for bankruptcy in January.
Gate.io threatens legal action against rumor-mongers
[Jun 4, 2023 1:33 PM] Insolvency rumors surfaced after a series of events involving Multichain. Gate.io has denied any liquidity issues.
Liquidators Of Sam Bankman-Fried’s Alameda Research Have Scavenged $110 Million Of Bitcoin After Losing Billions
[May 31, 2023 12:51 PM] Liquidators in charge of the recovery of assets for the now-disgraced Alameda Research hedge fund founded by Sam Bankman-Fried currently control over $110 million worth of bitcoin held in various wallets, according to a report supplied by…
US district judge sends matter of FTX independent examiner to appellate court
[May 30, 2023 1:00 PM] A bankruptcy judge denied a motion for an independent examiner in February, leading to an appeal that may now go to the U.S. Court of Appeals for the Third Circuit.
FTX Examiner Appointment Referred to Court of Appeals by District Judge
[May 30, 2023 9:32 AM] The U.S. government is pushing to have an independent inquiry into the crypto exchange despite concerns over cost
Gemini and Genesis Fight Back Against SEC Lawsuit, Seek Dismissal of Allegations
[May 29, 2023 11:30 AM] Gemini Trust Company and Genesis Global Capital filed a court document on May 26, 2023, seeking the dismissal of a lawsuit brought by the U.S. Securities and Exchange Commission (SEC). The regulatory body had accused the two crypto firms of…
Digital Currency Group to Sunset Tradeblock, Cites ‘Regulatory Challenges’ and ‘Prolonged Crypto Winter’
Bankrupt Lending Platform Celsius Agrees To Purchase Bid By Fahrenheit
[May 25, 2023 2:38 PM] Bankrupt lending platform Celsius Network LLC has announced that it has selected a proposal by Fahrenheit as the winning bid to lead the company out of bankruptcy, according to reporting by Reuters.Celsius, which filed for Chapter 11 protection in…
Fahrenheit wins bid to acquire assets of crypto lender Celsius
[May 25, 2023 2:01 AM] The consortium, which includes Arrington Capital, outbid NovaWulf to acquire Celsius Network’s assets, while the Blockchain Recovery Investment Consortium serves as a backup bid.
Fahrenheit Wins Bid to Acquire Assets of Insolvent Crypto Lender Celsius
[May 25, 2023 12:38 AM] The Arrington Capital-backed grouping beat fellow bidder NovaWulf for Celsius’ assets, with the Blockchain Recovery Investment Consortium selected as back-up.
DCG Fails to Make $630M Payment to Creditors Amid Genesis Negotiations, Says Gemini
[May 23, 2023 4:00 AM] In the midst of the financial dispute between crypto exchange Gemini and Digital Currency Group (DCG), Gemini has alleged that DCG failed to make a payment of around $630 million that was due last week. In response, Gemini has stated that it may…
FTX 2.0 to launch soon? Court filing shows a reboot plan in the works
[May 23, 2023 3:09 AM] The new FTX CEO has undertaken a series of meetings over the past month to work on the relaunch of the failed crypto exchange by entering in a bidding process.
Crypto Lender BlockFi Shared Unapproved Reorganization Plan 'Prematurely,' Court Says
[May 22, 2023 6:27 AM] The bankrupt estate was ordered to issue a corrective letter clarifying its May 13 disclosure statement was not approved by court.
MIAX completes acquisition of FTX subsidiary LedgerX
[May 19, 2023 11:30 AM] The deal was announced in April and approved by the bankruptcy judge on May 4.
U.S. Court Asked to Reverse Decision to Not Appoint Independent Examiner in FTX Bankruptcy
[May 18, 2023 2:09 AM] A Delaware bankruptcy court judge denied a motion to appoint a neutral examiner to avoid a lengthy and costly investigation that would slow the progress of the bankruptcy proceedings.
Voyager bankruptcy plan approved, customers may recover 35.7% of claims initially
[May 17, 2023 3:19 PM] The third try is a charm for the crypto brokerage, whose assets were almost bought by FTX and Binance.US. Now it’s just handing what it has over to its creditors.
Fahrenheit Consortium Is Lead Bidder in Bankruptcy Auction for Celsius Assets
[May 17, 2023 11:30 AM] The assets include a loan portfolio, mining rigs and infrastrsucture and cryptocurrency worth as much as $2 billion.
BlockFi Claims Against FTX, Alameda 'Largest Driver' of More Than $1B in Asset Recoveries, Firm Says
[May 15, 2023 8:07 AM] The litigation supporting claims against its commercial counterparties is set to make a difference "in excess of $1 billion" to creditors, court filings say.
Quadriga CX Customers to Finally Receive Payout: Creditors to Get 13% per Dollar
[May 13, 2023 10:00 AM] EY, the global accounting and professional services organization, released a long-awaited update on Friday for the creditors of Quadriga CX. The Canadian cryptocurrency exchange, which had sought bankruptcy protection in 2019 with liabilities of…
BlockFi users to get back $297M from Wallet accounts: Report
[May 11, 2023 3:34 PM] Return of funds does not apply to users of interest-bearing accounts, ruled U.S. bankruptcy judge Michael Kaplan.
BlockFi Customers Can Be Repaid $300M Held in Custodial Accounts, Judge Says
[May 11, 2023 9:04 AM] BlockFi custodial wallet users can be returned nearly $300 million, as a New Jersey judge ruled on Thursday May 11 that assets sitting in the wallets belong to clients rather than the estate of the bankrupt crypto lender.
DCG settlement with Genesis still undecided as 30-day mediation period proceeds
[May 10, 2023 3:15 PM] The settlement plan proposed in February would give Genesis creditors 80% recovery of funds but many raised demands, leading to the mediation.
U.S. Internal Revenue Service Files Claims Worth $44 Billion Against FTX Bankruptcy
[May 10, 2023 1:05 PM] The largest of the claims includes a $20.4 billion claim against Alameda Research LLC, which details nearly $20 billion in unpaid partnership taxes.
Bittrex’s U.S., Maltese Arms Processed $425M in Withdrawals Since April 1, Attorney Says
[May 10, 2023 9:54 AM] Bittrex filed for bankruptcy protection, but says no customer funds were re-used and that liabilities meet assets
OKX just sent $60M in USDT, MASK token to Alameda Research
[May 9, 2023 11:30 AM] The fund transfer may be part of a recovery effort to repay creditors of the failed FTX crypto exchange.
Cryptocurrency Exchange Bittrex Files For Bankruptcy Amid SEC Probe
[May 9, 2023 10:40 AM] The popular crypto trading exchange Bittrex filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the District of Delaware. This move comes three weeks after the United States Securities and Exchange Commission filed a lawsuit…