Bankruptcy Financial News

16.02 / 04:49

business Court Bankruptcy Celsius exit Celsius chooses NovaWulf's bid to exit from bankruptcy

Bankrupt crypto lender Celsius Network has chosen NovaWulf Digital Management as the sponsor for its proposed Chapter 11 restructuring plan which will see the investment advisory firm take over the operations of a new company, and most customers estimated to recover up to 70% of their funds.

15.02 / 19:01

regulation FTX Court Bankruptcy FTX bankruptcy judge denies US Trustee’s motion to appoint independent examiner

Judge John Dorsey of the United States Bankruptcy Court for the District of Delaware has denied a motion appointing an independent examiner for FTX.

15.02 / 09:27

business regulation Investments Bloomberg FTX Court Bankruptcy Sequoia Capital, Paradigm among VCs facing "tricky" FTX investor lawsuit

Users of bankrupt crypto exchange FTX have reportedly taken aim at financiers who promoted the platform suggesting their efforts added an “air of legitimacy” to the now-defunct exchange, a case labeled as "tricky" by a crypto lawyer.

11.02 / 01:01

regulation FTX Caribbean Bankruptcy the bahamas FTX liquidators report exchange held $2.4M 'fleet of vehicles' in the Bahamas

The joint provisional liquidators of FTX Digital Markets — the firm’s subsidiary in the Bahamas — has released a report on the company’s physical assets in the island nation.

10.02 / 23:49

business FTX Digital Currency Group Bankruptcy Silver Crypto Biz: FTX clawbacks, Genesis silver lining?

Remember when Sam Bankman-Fried admitted to being a significant donor to the Democratic and Republican parties? Well, the recipients of the tainted money have been formally requested to return the funds to FTX’s creditors. So far, we know of three prominent Democratic groups — the DNC, the Democratic Senatorial Campaign Committee and the Democratic Congressional Campaign Committee — that have returned SBF-linked donations in December 2022. Will the rest follow?

10.02 / 11:13

business community Bankruptcy 3AC new exchange triggers backlash from the crypto community — ‘No, thank you’

The launch of the exchange project backed by the bankrupt hedge fund Three Arrows Capital (3AC) attracted a mob of angry community members who took to Twitter, expressing their disappointment with the state of the crypto space.

10.02 / 08:55

Analysis Federal Reserve FTX inflation Interest rates Bankruptcy Bitcoin events Bitcoin price more correlated to FTX developments than macro events: Research

The collapse of FTX and related developments did more to pull up or push down the price of Bitcoin (BTC) throughout Q4, compared to macroeconomic events such as rate hikes, according to research.

09.02 / 22:57

Law regulation Bankruptcy Celsius creditors Restructuring Plan Celsius‘ motion to extend timeline for restructuring plan faces objection from creditors

The unsecured committee of creditors and others involved in crypto lending firm Celsius’ bankruptcy case have objected to a motion from the debtors delaying a reorganization plan.

09.02 / 19:59

business Mining Loans Bankruptcy Bitfarms Bitfarms settles outstanding loan with BlockFi for $7.75M

Bitcoin (BTC) miner Bitfarms has settled its debt obligations with BlockFi, closing the chapter on its short relationship with the bankrupt cryptocurrency lender.

09.02 / 01:31

business Law Gemini Court Bankruptcy creditors What creditors can expect from Genesis’ bankruptcy — and what others can learn

The holding company of troubled crypto lender Genesis Global Capital, Genesis Global Holdco LLC, filed for Chapter 11 bankruptcy protection in New York on Jan. 19. Genesis is the latest crypto platform to file for bankruptcy, joining Celsius, Voyager, BlockFi and FTX.

08.02 / 23:35

Law regulation FTX Court Bankruptcy FTX debtors FTX debtors can issue subpoenas to company 'insiders', says court

The judge overseeing crypto exchange FTX’s bankruptcy case has granted a motion allowing the firm’s debtors to request subpoenas for information and documents from former colleagues and family members of Sam Bankman-Fried.

08.02 / 23:29

Law regulation Bankruptcy hedge fund Lawyers NOT 3AC founder has 'chosen to ignore his duties' by not responding to subpoena, say bankruptcy lawyers

Three Arrows Capital founder Kyle Davies has not responded to a subpoena issued over Twitter aiming to gather information related to the firm’s assets.

08.02 / 23:29

business ATM Bankruptcy Coin Cloud crypto ATM operator files for bankruptcy, owes over $100M to Genesis

Cash Cloud, the operator of Coin Cloud digital currency automatic teller machines (ATMs) in the United States and Brazil, filed for Chapter 11 bankruptcy in U.S. Bankruptcy Court for the District of Nevada on Feb. 7.

08.02 / 09:57

business Ethereum Cardano Polygon Grayscale Bankruptcy Bitcoin DCG offloads Grayscale shares to raise capital: Report

Cryptocurrency conglomerate Digital Currency Group (DCG) has reportedly begun to sell its holdings in crypto funds managed by its subsidiary Grayscale Investments as it looks to raise capital and preserve liquidity.

08.02 / 07:23

regulation SEC Department Of Justice FTX Bankruptcy Voyager subpoenas FTX and Alameda execs as judge orders fee examiner

Lawyers representing bankrupt crypto broker Voyager Digital have served former FTX CEO Sam Bankman-Fried and other FTX and Alameda Research executives with subpoenas requesting information.

07.02 / 04:33

business regulation Fraud WhatsApp FTX Bankruptcy Lawyers Fried Sam Sam Bankman-Fried lawyers reach agreement on use of messaging apps

Sam Bankman-Fried’s (SBF's) lawyers have reached an agreement with federal prosecutors concerning his use of messaging apps.

07.02 / 02:45

business Court Digital Currency Group Bankruptcy Genesis entity going up for sale as DCG makes creditor pact

Genesis Global has announced it has reached an "agreement in principle" with Digital Currency Group (DCG) which will eventually see its crypto lending and trading arm sold as part of restructuring efforts.

06.02 / 21:23

Law regulation FTX Bankruptcy FTX CEO testifies on ‘pure hell’ post-bankruptcy days at exchange

John Ray, who took over as CEO of crypto exchange FTX, has described some of the chaotic experiences at the firm following the company declaring bankruptcy.

06.02 / 05:13

business Law MicroStrategy Bitcoin Regulation Bankruptcy Bitcoin Crypto needs ‘adult supervision’ and turmoil to ‘grow up’ — Microstrategy co-founder

High-profile crypto bankruptcies and a hearty price crash are necessary evils to help the industry grow, while greater regulation is a must, according to Microstrategy co-founder Michael Saylor.

05.02 / 21:43

business FTX Bankruptcy Political Donations end FTX seeks to claw back political donations by the end of February

FTX's new management is seeking to recover political donations made by Sam Bankman-Fried and other FTX executives until February 28, according to a statement disclosed on Feb. 5.

05.02 / 07:01

business Adoption regulation Google Funding Bankruptcy Fried Sam Google invests $300M in AI firm previously funded by Sam Bankman-Fried

Google Cloud has reportedly invested $300 million into artificial intelligence (AI) startup firm Anthropic, which also happened to receive over $500 million in funds from former FTX CEO Sam Bankman-Fried about six months before FTX catastrophically collapsed.

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