Bankruptcy Financial News

12.11 / 04:21

business Law Adoption FTX Bankruptcy Ex-FTX execs team up to build new crypto exchange 12 months after FTX collapse: Report

Several former FTX executives have teamed up to help build a new cryptocurrency exchange in Dubai with a specific focus on what FTX failed to do — secure customer funds.

10.11 / 21:55

markets solana Polygon FTX Bankruptcy Solana price hits a new 2023 high — What’s behind the SOL rally?

Solana’s native token, SOL (SOL), experienced an impressive 22% surge on Nov. 10, breaking past the $54 mark for the first time since May 2022. Notably, this surge occurred amid the continuous selling of SOL tokens by FTX’s bankruptcy estate. The Delaware Bankruptcy Court approved the sale of the failed exchange’s assets, which included 55.75 million SOL, in September 2023.

10.11 / 18:41

business lending Algorand Bankruptcy Hodlnaut heading for liquidation after failure of restructuring, sale efforts

Crypto lender Hodlnaut’s days appear to be numbered after the High Court of Singapore ended judicial management and ordered its liquidation. Users’ funds have been frozen since August 2022.

10.11 / 08:35

Bankruptcy Celsius Bitcoin Miner Court Approves Celsius Network’s Bankruptcy Exit, Transition to Bitcoin Miner

The U.S. Bankruptcy Court has approved Celsius Network LLC’s transition from a failed crypto lender to a Bitcoin mining business, setting the stage for the company to begin repaying its customers.

09.11 / 20:29

business lending Earn Bankruptcy Celsius Celsius bankruptcy Court confirms Celsius bankruptcy exit plan, $2B in crypto to go to creditors

The Celsius bankruptcy plan has been approved. The path is now clear for customers to see some of their funds returned and receive shares in the reorganized company, which will be called NewCo.

09.11 / 06:23

regulation SEC Fraud FTX Bankruptcy open SEC’s Gensler hints he’s open to a FTX reboot under proper leadership: Report

The United States securities regulator chief has hinted he would be open to a rebooted crypto exchange FTX — as long as its new leadership stays within the bounds of the law.

08.11 / 14:19

business Europe European Union Bankruptcy OPNX gets EU spot crypto trading license in Lithuania

Crypto exchange OPNX has obtained a virtual asset service provider license (VASP) in Lithuania, allowing it to provide spot crypto exchange services throughout the European Union, according to a Nov. 8 announcement seen by Cointelegraph.

06.11 / 02:13

business Adoption Mining cryptocurrency investment Bankruptcy Bitcoin Luxor refutes claims its Bitcoin hashrate-backed product is BlockFi, Celsius 2.0

An upcoming Bitcoin (BTC) hashrate-backed product that could offer 10% to 13% returns shouldn’t be compared to failed products by BlockFi or Celsius as its returns come from proof-of-work, not “ponzi schemes,” claims the product’s creator Bitcoin mining firm Luxor Technology.

03.11 / 14:41

Blockchain regulation FTX Bankruptcy Bitcoin FTX claims climb to 57% as Sam Bankman-Fried found guilty on all counts

The current claim pricing of FTX has reached a maximum of 57%, according to data from Claims Market. The increase in FTX’s claim pricing is attributed to the valuation of artificial intelligence (AI) companies that the now-bankrupt crypto exchange previously invested in.

27.10 / 20:43

regulation Gemini Fraud Winklevoss Twins Digital Currency Group Bankruptcy Gemini sues Genesis over GBTC shares used as Earn collateral, now worth $1.6B

Cryptocurrency exchange Gemini filed an adversary proceeding against bankrupt crypto lender Genesis Global Holdco in the Southern District of New York Bankruptcy Court on Oct. 27. At issue is the fate of 62,086,586 shares of Grayscale Bitcoin Trust (GBTC). They were used as collateral to secure loans made by 232,000 Gemini users to Genesis through the Gemini Earn Program. That collateral is currently worth close to $1.6 billion.

26.10 / 09:45

FTX Bankruptcy FTX bankruptcy Bankrupt Crypto Firms Alameda Research and FTX Move $10 Million in Crypto to Exchange Accounts, Raising Questions

Wallets linked to bankrupt crypto firms Alameda Research and FTX moved over $10 million worth of cryptocurrency to a single wallet address, which then deposited the funds to exchange deposit accounts.

26.10 / 05:19

business FTX Court Bankruptcy ai safety FTX probes $6.5M in payments to AI safety group amid clawback crusade

Bankrupt crypto exchange FTX is looking to demand information on millions of dollars in payments it had previously given to a nonprofit AI safety organization — the Center for AI Safety (CAIS).

25.10 / 09:41

business crimes FTX Bankruptcy FTX navigates post-bankruptcy options, weighs sale or revival

FTX Trading Ltd., formerly a prominent player in the cryptocurrency exchange sector, is carefully considering its future after going through bankruptcy proceedings.

17.10 / 04:51

business Law regulation FTX Court Bankruptcy 2024 Customers FTX customers could get $9B shortfall claim payout by mid-2024

Customers of bankrupt crypto exchange FTX and FTX US could see over 90% of assets returned to them by the end of the second quarter of 2024 after a proposed settlement was reached between FTX creditors and debtors.

13.10 / 23:03

business FTX Bankruptcy Caroline Ellison desired to step down but feared a bank run on FTX

Caroline Ellison wasn't doing a good job leading Alameda Research in 2022, and she did not hide it. Pieces of her personal notes shared as evidence by prosecutors on Sam Bankman-Fried's trial revealed details about the trading firm's struggles and its CEO's desire to resign weeks and months before the collapse of FTX.

12.10 / 18:45

FTX Bankruptcy Court Approves Genesis and FTX $175 Million Settlement Deal Despite Outrage from Creditors

A United States court has approved the settlement terms of bankrupt digital asset lender, Genesis and FTX's sister company, Alameda Research.

12.10 / 11:09

Law regulation FTX Court Bankruptcy Bitcoin settlement Court approves Genesis settlement of $175M to FTX, expunges billions in claims

A New York bankruptcy judge has approved a settlement between bankrupt cryptocurrency firms FTX and Genesis Global Trading (GGC), allowing FTX-affiliated Alameda Research to get $175 million from GGC.

12.10 / 01:54

business Investments Bankruptcy hedge fund network WOO Network to sever ties with Three Arrows Capital after share buyback

Crypto exchange WOO Network is set to sever all remaining ties with bankrupt Three Arrows Capital, after reaching a settlement to buy back shares and tokens previously acquired by the crypto hedge fund.

07.10 / 01:57

business Government Law Bankruptcy Sam week Sam Bankman-Fried goes on trial: A week in review

Luxury real estate, political donations, investments, and magazine covers. A year ago, that was the life of Sam Bankman-Fried, Assistant U.S. Attorney Thane Rehn remarked during the opening statements of the world's most famous crypto trial.

03.10 / 06:49

regulation Bankruptcy end court approval Customers Celsius seeks court approval to start repaying customers by year-end

Embattled crypto lender Celsius Network has told a judge it plans to start paying back its customers by year’s end, amid an Oct. 2 hearing seeking approval for its reorganization plan.

02.10 / 05:53

business Law regulation FTX Court Bankruptcy Effective altruism fueled SBF’s ‘ridiculous’ actions at FTX: Ex-Alameda engineer

Effective altruism was used to justify “increasingly risky and ridiculous” actions at crypto exchange FTX prior to its ultimate collapse in November 2022, says a former software engineer at Alameda Research.

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