Bankruptcy Financial News

17.11 / 00:09

business FTX Bankruptcy Fried Sam Updates Sam Bankman-Fried updates investors: 'We got overconfident and careless,' claims $13B leverage

Former FTX chief executive officer Sam Bankman-Fried said he was “wrong” in his estimates of the crypto exchange’s leverage prior to its collapse, claiming it wasn’t $5 billion, but closer to $13 billion.

16.11 / 00:33

business Blockchain defi Bankruptcy Withdrawals FTX fallout continues: BlockFi reportedly mulling bankruptcy, SALT pauses withdrawals and deposits

In an official update sent to clients on Nov 14, BlockFi admitted to having “significant exposure” to FTX and its affiliated companies, but insisted it had “the necessary liquidity to explore all options”. The news came as somewhat of a surprise since on Nov. 8, BlockFi’s founder and chief operating officer, Flori Marquez, assured users in a Twitter thread that all BlockFi products were “fully operational” because it had a $400 million line of credit from FTX US, which is a separate entity from FTX, the global entity affected by the liquidity crunch.

15.11 / 16:57

business regulation Bankruptcy creditors FTX bankruptcy filing speculates over 1 million creditors

The FTX liquidation crisis turned bankruptcy saga continues as a recent filing reveals additional information on Sam Bankman-Fried’s leadership and the exchange’s final days.

12.11 / 21:25

business FTX South America Bankruptcy Fried Sam Sam Bankman-Fried denies rumors that he fled to Argentina

FTX founder Sam Bankman-Fried has denied speculation that he’s fled to Argentina as the saga surrounding his collapsed cryptocurrency exchange continued to unfold in near-real time on Twitter.

12.11 / 20:41

business hacks FTX Bankruptcy FTX reportedly hacked as officials flag abnormal wallet activity

Collapsed cryptocurrency exchange FTX reportedly faced a series of unauthorized transactions over the weekend, prompting several warnings from users and analysts against interacting with its mobile app or website.

12.11 / 08:51

business regulation Tether Bankruptcy Threat FTX funds on the move: bankruptcy proceedings, insider threat or a hack?

The recent tensions between the two major crypto exchanges FTX and Binance, which was accompanied by a massive selloff of FTX Token (FTT), resulted in the collapse of roughly 130 companies linked to FTX Group — including FTX Trading, FTX US, West Realm Shires Services, and Alameda Research.

12.11 / 00:57

business FTX Bankruptcy 'Need to update my LinkedIn' — FTX Ventures head resigns: Report

Amy Wu, an investor in FTX and the head of the firm’s venture capital arm, FTX Ventures, has reportedly resigned her position.

11.11 / 18:47

business FTX Bankruptcy FTX, FTX US and Alameda will file for Chapter 11 bankruptcy in US; SBF resigns

Within a week, crypto exchange FTX has gone from proposing an acquisition by Binance to sort out its liquidity issues to proceeding with filing for bankruptcy under Chapter 11 in the District of Delaware.

11.11 / 17:21

markets business FTX Bankruptcy Terra Luna Warning FTX ex-exec floats 'cool token' idea amid warning rebound may take years

Bitcoin (BTC) and cryptocurrency may “take years to recover” from the FTX scandal, one industry analyst warns.

02.11 / 11:05

business Court Bankruptcy Ponzi scheme Judge orders probe to investigate whether Celsius was a Ponzi

The judge overseeing the Celsius bankruptcy case has ordered the examiner and the official committee of Celsius creditors to determine who will head a probe into whether the firm was operating like a Ponzi scheme.

01.11 / 23:59

business Law Mining Bankruptcy Financial Core Scientific may consider bankruptcy following uncertain financial condition: Report

Bitcoin mining firm Core Scientific is reportedly considering a potential bankruptcy amid a group of its convertible bondholders consulting restructuring lawyers.

28.10 / 08:15

business Court Bankruptcy Celsius bankruptcy Celsius bankruptcy case Trustee slams $3M employee bonus motion

The U.S. Trustee overseeing the Celsius chapter 11 bankruptcy case, William Harrington, has objected to a Celsius motion that would see 62 of its 275 employees paid a retention bonus totaling $2.96 million.

27.10 / 10:01

business regulation Bankruptcy Terra Luna DeFi Pioneer Echoes SBF in Call for Tighter Crypto Regulations

Respected former decentralized finance (DeFi) project founder and developer Andre Cronje has resurfaced after a lengthy hiatus to call for tighter regulations on the crypto sector amid the implosion of multiple firms this year.

21.10 / 18:39

business Binance Bankruptcy Crypto Biz: Bear market claims another casualty

Three Arrows Capital. Celsius. Voyager Digital. The list of crypto bankruptcies, shutdowns and trading freezes has been endless in 2022. And the year isn’t over yet. This week, German crypto bank Nuri urged its users to withdraw funds ahead of the company’s planned shutdown in December — at least Nuri’s users were given proper notice.

20.10 / 08:53

business Court Bankruptcy Deal Customers Voyager customers could recover 72% of frozen crypto under FTX deal

Customers of bankrupt crypto lender Voyager Digital may be able to recover 72% of the value of their accounts under a tentative deal with FTX US, according to court documents.

19.10 / 00:03

business lending Bankruptcy Voyager Digital won’t sue its executives for incompetence, will claim insurance on them

Voyager Digital has preferred not sue its top executives for incompetence, in spite of their role in approving a huge loan to Three Arrows Capital (3AC) without adequate due diligence. That loan was a key element leading to Voyager Digital’s bankruptcy. Court papers filed Oct. 17 show that a Voyager Digital internal special committee has proposed that CEO Stephen Ehrlich and chief commercial officer (formerly chief financial officer) Evan Psaropolous keep their jobs and not be sued.

18.10 / 07:45

business Law Bankruptcy 3AC liquidators seek ‘alternative means’ to subpoena missing founders

Liquidators for Three Arrows capital (3AC) have asked a U.S. court to grant them permission to subpoena the embattled crypto hedge fund's founders through “alternative means.”

18.10 / 01:07

regulation lending Bankruptcy guidance consultation Celsius judge says court may look to UK consultation paper in absence of US guidance

The lack of crypto regulation in the United States has long complicating the lives of users and service providers, and now a judge has acknowledged the pain the judiciary feels from its absence too. Chief United States Bankruptcy Judge Martin Glenn, the judge who is leading the Celsius case, said the court will look abroad for guidance in the case.

15.10 / 08:45

business regulation Bankruptcy Texas authorities object to Voyager's disclosure statement in its current form

The Texas State Securities Board (SSB) and the Texas Department of Banking (DOB) raised an objection in court against Voyager Digital’s disclosure statement, questioning the various methodologies and calculations used to estimate the fair market value of the bankrupt exchange’s crypto assets.

06.10 / 01:11

business NFT Bankruptcy Three Arrows Capital's NFTs collection to be liquidated

Teneo, the liquidation firm in charge of the Three Arrows Capital (3AC) bankruptcy process, confirmed in a statement to Cointelegraph on Oct. 5 that it has custody of the NFTs moved from the addresses related to Starry Night Capital, a fund launched by the co-founders of the now-bankrupt hedge fund.

05.10 / 07:03

business lending YouTube Bankruptcy NOT Insolvency not in 'Nexo's reality,' says co-founder during AMA

Bankruptcy or insolvency is not in “Nexo’s reality” according to the crypto lending platform’s co-founder and managing partner, Kalin Metodiev.

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