Bankruptcy Financial News

25.01 / 06:31

business FTX Court Bankruptcy Breaking: BlockFi uncensored financials reportedly shows $1.2B FTX exposure

Bankrupt crypto lending firm BlockFi has reportedly uploaded uncensored financials by mistake, revealing $1.2 billion in assets tied up with bankrupt exchange FTX and its related trading firm Alameda Research.

25.01 / 01:37

business regulation Investments lending Bankruptcy creditors New 'Celsius token' may be used to repay creditors: report

Bankrupt crypto lending firm Celsius may issue its own token to repay creditors, according to a January 24 report from Bloomberg. The report cites a video court hearing as the source of the information.

24.01 / 10:31

business Law Mining regulation Bloomberg Bankruptcy Bitcoin Backed Bitcoin Miner BlockFi to sell $160M in Bitcoin miner-backed loans: Report

Bankrupt crypto lending firm BlockFi has plans to sell off $160 million in loans backed by around 68,000 Bitcoin mining machines as part of bankruptcy proceedings, according to reports.

24.01 / 08:23

business lending Court Digital Currency Group Bankruptcy exit resolution Genesis eyes fast resolution to creditor disputes and bankruptcy exit in May

A lawyer for bankrupt crypto lending firm Genesis is optimistic the firm can resolve its creditor disputes as early as this week and the company could come out of Chapter 11 proceedings by late May.

23.01 / 23:51

Law regulation lending Court Bankruptcy BlockFi exec argues bankruptcy court should approve bonuses to retain talent

Megan Crowell, the chief people officer at crypto lending firm BlockFi, has petitioned a court to allow bonuses for “key employees” amid Chapter 11 bankruptcy proceedings.

23.01 / 20:31

regulation Bankruptcy NYDFS NOT NYDFS advises crypto firms not to commingle user and corporate funds in the event of insolvency

The New York Department of Financial Services, or NYDFS, has released guidelines on how licensed crypto firms should handle customer assets should they face “insolvency or similar proceeding”.

22.01 / 23:17

business lending Digital Currency Group Bankruptcy hearing Genesis bankruptcy case scheduled for first hearing

The first hearing in Genesis Capital's bankruptcy case will be held on January 23 at 2:00 pm (EST), according to court filings. Judge Sean H. Lane of the United States Bankruptcy Court for the Southern District of New York will hear the case.

21.01 / 09:53

business regulation FTX Court Bankruptcy SBF to forfeit $700M worth of assets if found guilty of fraud

According to new court filings, disgraced FTX founder Sam Bankman-Fried (SBF) will be subject to the forfeiture of roughly $700 million worth of assets if he were to be found guilty of fraud.

20.01 / 23:47

business Digital Currency Group Bankruptcy committee Genesis' bankruptcy filing was decided by independent committee according to DCG

Genesis Capital's parent company Digital Currency Group (DCG) denied involvement in Genesis' bankruptcy filing in a statement on Jan. 20. According to DCG, a special committee of independent directors recommended and decided to file for Chapter 11 bankruptcy protection.

20.01 / 07:57

business Digital Currency Group Bankruptcy Crypto lender Genesis Crypto lender Genesis files for bankruptcy

Cryptocurrency lender Genesis has filed for Chapter 11 bankruptcy in the Southern District of New York,on Jan. 19.

20.01 / 07:25

regulation FTX Court Bankruptcy Lawyer Former FTX chief lawyer claims US legal counsel channeled business to S&C

A former FTX chief lawyer has accused the company's US general counsel of channeling business to Sullivan & Cromwell (S&C) — the firm currently serving FTX as bankruptcy counsel.

19.01 / 09:31

business Grayscale Bankruptcy Usd Coin CoinDesk could be up for grabs as parent company DCG scrambles for funds

Crypto media outlet CoinDesk is reportedly considering a potential sale as its parent company Digital Currency Group (DCG) looks to strengthen its balance sheet.

19.01 / 05:31

Law regulation Court Bankruptcy Lawyers FTX CEO fights to keep lawyers as calls for removal intensify

The CEO of crypto exchange FTX has rejected calls for its law firm Sullivan & Cromwell to be replaced as lead counsel in its bankruptcy case.

19.01 / 02:09

business FTX Bankruptcy Sam FTX profited from Sam Bankman-Fried’s inflated coins: Report

Sam Bankman-Fried, the former CEO of the FTX crypto exchange, used his influence in the crypto industry to inflate some coins prices through a coordinated strategy with FTX’s sister company, Alameda Research, a New York Times report claimed on Jan. 18.

18.01 / 22:43

business Liquidity Digital Currency Group Bankruptcy Genesis is planning to file for bankruptcy: Report

Cryptocurrency lending firm Genesis Global Capital, a subsidiary of crypto conglomerate Digital Currency Group, is reportedly preparing to file for bankruptcy as early as this week.

18.01 / 08:35

business Liquidity FTX Bankruptcy Which tokens could FTX dump on the market?

The new management of the bankrupt FTX exchange has identified $5.5 billion in assets that can be used to repay creditors, sparking fears a large swathe of crypto assets could be dumped on markets.

18.01 / 05:45

business FTX Bankruptcy Bitcoin collapses 'There will be many more zeros' — Kevin O'Leary on FTX-like collapses to come

Unregulated crypto exchanges will continue to fall like dominoes post-FTX, with plenty more “meltdowns” to come, warns Shark Tank star and investor Kevin O’Leary.

18.01 / 01:33

business FTX Bankruptcy FTX: it took 'Herculean investigative effort' to identify $5.5B in liquid assets

The debtors behind FTX have identified $5.5 billion in liquid assets but reported a “substantial shortfall of digital assets” at the bankrupt crypto exchange and its U.S. arm.

17.01 / 08:49

business FTX Bankruptcy 'Ninth circle of hell' is reserved for SBF for his betrayal: Scaramucci

SkyBridge Capital managing partner Anthony Scaramucci has opened up about the “betrayal” he felt over the actions of FTX founder Sam Bankman-Fried, who he said he once considered a “friend.”

15.01 / 01:05

business FTX Bankruptcy Alameda Research had a $65B secret line of credit with FTX: Report

Former FTX CEO Sam Bankman-Fried (SBF) reportedly ordered Gary Wang, co-founder of the crypto exchange, to open a $65 billion "secret backdoor line of credit" for Alameda Research, according to FTX attorney Andrew Dietderich.

14.01 / 08:49

business FTX Asset management Bankruptcy Buyback SkyBridge stake Skybridge eyes stake buyback from FTX, as Galaxy CEO says he would like to ‘punch’ SBF

SkyBridge Capital CEO Anthony Scaramucci said that his firm can buy back the stake of the company it sold to FTX back in September last year. While Galaxy Digital CEO Mike Novogratz has indicated that he would be tempted to “punch” SBF right in the jaw.

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