13 / 21 Relevant items tagged with #Bankruptcy

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Zipmex requests 2-month extension from Singapore court for restructuring plan

[Apr 18, 2023 3:00 PM] A ruling from Singapore’s High Court originally allowed Zipmex a moratorium until December 2022 to handle debt relief amid reported liquidity issues.

Crypto Exchange Zipmex Files for Two-Month Moratorium Extension

[Apr 18, 2023 10:29 AM] Troubled cryptocurrency exchange Zipmex has filed for a two-month extension to its moratorium agreement to the Singapore court, according to an announcement.

The Fall of Medici Bank: Lessons on Fractional Reserve Banking From 15th Century Italy

[Apr 16, 2023 11:30 AM] Amid the banking chaos of the 21st century, some are looking back more than 600 years ago, to the Medici Bank — one of the most powerful banks of its time. It established its business and became one of the most respected banks in Europe during its…

NovaWulf Plans to Tokenize Equity of Celsius’ New Firm With $2B Assets, After Takeover

[Apr 14, 2023 9:57 AM] Celsius Network contacted 130 interested parties and signed non-disclosure agreements with 40, before choosing NovaWulf.

FTX Finds $7.3 Billion in Liquid Assets; Lawyers Consider Rebooting Shuttered Crypto Exchange

[Apr 13, 2023 8:30 AM] FTX debtors revealed during a hearing on April 12th that the restructuring team has collected $7.3 billion in liquid assets. The exchange is currently considering a relaunch, according to a lawyer representing the defunct cryptocurrency exchange…

FTX’s Bankruptcy Lawyers: ‘The Dumpster Fire Is Out’

[Apr 12, 2023 2:20 PM] Five months after the spectacular implosion of FTX, the Bahamas-based exchange’s new legal team has a message for both the U.S. bankruptcy court and creditors alike: “The situation has been stabilized and the dumpster fire is out.”

FTX has recovered $7.3B in assets, will consider rebooting exchange

[Apr 12, 2023 12:06 PM] Sam Bankman-Fried's failed cryptocurrency exchange filed for bankruptcy in November 2022 and has since been mired in court proceedings.

Crypto Exchange FTX Could Reopen, Its Attorney Says; Firm’s FTT Token Surges

[Apr 12, 2023 11:42 AM] FTT jumped as much as 36%.

Swiss court gives green light for FTX to sell its European arm

[Apr 12, 2023 11:30 AM] The approval of a petition in Switzerland allowing FTX Europe AG's sale would be in accordance with U.S. bankruptcy court, where FTX's global business filed for Chapter 11.

Alameda to Be Repaid $53M Deltec Loan, Delaware Bankruptcy Court Rules

[Apr 12, 2023 9:55 AM] The 2021 payment to Deltec International was originally approved by FTX's Ryan Salame.

Circle and BlockFi questioned on banking with SVB by Warren and AOC

[Apr 11, 2023 6:32 PM] Circle and BlockFi executives were questioned after the lawmakers accused Silicon Valley Bank of “coddling” and giving “white glove” treatment to its largest depositors.

Core Scientific debtors petition bankruptcy court to approve new president

[Apr 11, 2023 3:50 PM] The debtors appointed Adam Sullivan, a managing director at investment banking firm XMS Capital Partners, to assume the role of president amid the firm’s bankruptcy proceedings.

Bankruptcy Trading Platform Xclaim Closes $7M Round as It Adds Crypto Focus

[Apr 11, 2023 7:00 AM] Founder and CEO Matthew Sedigh says trading volumes have surpassed $200 million since Xclaim started operations in 2018.

Celsius Network to make April 12 filing, including info on voting for restructuring plan

[Apr 7, 2023 11:00 AM] "Our Disclosure Statement will provide a summary of the Plan, account-holder recovery percentages, FAQs, and additional information on certain risk factors," said Celsius.

Bankruptcy Claims Exchange OPNX Stumbles Out of the Gate

[Apr 5, 2023 8:39 AM] Bankruptcy claims exchange OPNX has struggled in terms of trading volume one day after it went live, the exchange's native token, FLEX, is is down by 26% in the past 24-hours.

Tether 'unequivocally reiterates' no exposure to Signature Bank

[Apr 5, 2023 7:15 AM] The stablecoin provider denied the allegations that began to surface in regard to its exposure to the now-collapsed Signature Bank.

Voyager-Binance.US Legal Fight Must Be Resolved by April 13, Court Documents Say

[Apr 4, 2023 2:40 AM] The bankrupt company’s creditors stand to lose $100 million if delays caused by government objections drag on.

‘Dr. Doom’ Nouriel Roubini Warns of Looming Banking Crisis and Trilemma for Central Banks

[Apr 2, 2023 9:30 PM] Economist Nouriel Roubini has shared his opinion about bank problems in the United States in a recently published opinion editorial. In the article, Roubini insists that “most U.S. banks are technically near insolvency, and hundreds are…

U.S. Government Case Against Voyager-Binance.US Deal Has 'Substantial' Merits, Judge Says

[Apr 1, 2023 6:49 AM] District Judge Jennifer Rearden put the $1 billion deal on hold but said she’d expedite an appeal to avoid too much delay

FTX EU Sets Up Website to Repay Users

[Mar 31, 2023 12:19 PM] The European arm had only been in operation for about 8 months prior to the collapse of parent FTX.

Former FTX CEO Seeks $10M Insurance Fund for Legal Defense, Request Opposed by FTX Debtors and Unsecured Creditors

[Mar 30, 2023 1:30 PM] Court filings reveal that the FTX co-founder is seeking access to a $10 million insurance plan to cover his attorney fees. FTX debtors and unsecured creditors have opposed Sam Bankman-Fried’s request, arguing that every dollar spent on his defense…

Three Arrows Capital's Kyle Davies Ordered to Respond to Subpoena Within 2 Weeks

[Mar 30, 2023 8:58 AM] The court also ruled that the 3AC liquidators' service of a subpoena to Davies via Twitter complied with due process.

Paxful to return lost Celsius funds to Earn users

[Mar 29, 2023 1:46 PM] Peer-to-peer marketplace Paxful will refund its Earn program users impacted by Celsius Network's bankruptcy.

Paxful Announces Decision To Personally Return Lost Celsius Funds For Paxful Earn Users

[Mar 29, 2023 11:05 AM] The global bitcoin exchange will dig into its own coffers to reconcile users who lost their money as a result of the collapse of Celsius.Global peer-to-peer Bitcoin platform Paxful announced it will provide almost nine bitcoin worth ~$250,000.00 to…

British Virgin Islands Court Orders 3AC Founders to Attend Examination on May 22

[Mar 29, 2023 4:17 AM] The 3AC founders will be found in contempt of court if they fail to reply to the order.

FTX’s $45M Sequoia Sale Cleared, as Embed Divestment Delayed

[Mar 29, 2023 1:41 AM] A Delaware bankruptcy judge approved the sale of the bankrupt company’s assets to Abu Dhabi’s investment arm.

Judge Puts Voyager Sale to Binance.US on Hold Pending Government Appeal

[Mar 27, 2023 5:51 PM] A federal judge paused Voyager's efforts to sell its assets to Binance.US in response to the U.S. government's filing for an emergency stay.

FTX Bankruptcy Estate Consolidates Arbitrum Airdrop Tokens Into Single Wallet

[Mar 27, 2023 4:55 AM] A wallet controlled by the FTX bankruptcy estate has received tranches of the Arbitrum airdrop from several wallets linked to Alameda Research, on-chain data shows.

Eversheds Sutherland Files for Property Rights Over FTX.com Customer Assets

[Mar 24, 2023 12:24 PM] Lawyers asked the court for an early stage summary judgment, to ring-fence FTX assets frozen in the accounts of non-U.S. customers.

Bankrupt Crypto Lender BlockFi Given Go-Ahead for Sale of $4.7M of Mining Rigs

[Mar 24, 2023 11:39 AM] BlockFi filed for bankruptcy in the wake of FTX's collapse.