Bankruptcy Financial News

14.08 / 22:39

business Bankruptcy Celsius settlement Customers Celsius customers to vote on settlement plan with Fahrenheit after judge gives okay

Bankrupt crypto lender Celsius can start sending out ballots to its customers for a vote on a proposed settlement plan that would see a consortium called Fahrenheit buy Celsius’ assets and launch a new company. That company would distribute Celsius assets and equity in the new company to its customers.

14.08 / 01:21

Legal Bankruptcy Three Arrows Capital 3AC Legal Twist: Three Arrows Capital Co-Founder's Citizenship Renunciation Disrupts Court's Jurisdiction in Bankruptcy Case

In the bankruptcy case of Three Arrows Capital (3AC), a crypto hedge fund that ceased operations, a judge has rejected a request to hold co-founder Kyle Davies in contempt of Court and impose sanctions.

11.08 / 21:53

Law regulation Court Asset management Bankruptcy 3AC co-founder avoids contempt charges following evidence of Singaporean citizenship

A judge in the bankruptcy case of defunct crypto hedge fund Three Arrows Capital (3AC) has denied a motion that would have held co-founder Kyle Davies in contempt of court and imposed sanctions.

08.08 / 22:39

business Mining Bitmain Asset management Bankruptcy stake Core Scientific’s bankruptcy plan includes equity stake for Bitmain and Anchorage

Cryptocurrency custody firm Anchorage Digital and major mining manufacturer Bitmain could take equity stakes in Core Scientific as part of the firm’s restructuring plan.

06.08 / 16:51

business defi Bankruptcy OPNX exchange bids for crypto lender Hodlnaut in Singapore: Report

Crypto lender Hodlnaut appears to have found a white knight investor to exit its bankruptcy proceedings. According to a Bloomberg report, OPNX exchange has made an offer to take over 75% of the company.

05.08 / 17:57

business Digital Currency Group Bankruptcy New York AG probes transactions at Genesis, ties with Barry Silbert: Report

Digital Currency Group (DCG) is now under scrutiny for its financial transactions involving its subsidiary, Genesis Global Capital. The investigation is reportedly being conducted by New York Attorney General Letitia James, Bloomberg reported, citing sources familiar with the matter.

04.08 / 16:33

business Bankruptcy Core Scientific appoints Adam Sullivan as CEO amid restructuring process

Publicly traded Bitcoin (BTC) miner Core Scientific has appointed Adam Sullivan its CEO. Sullivan, who previously served as the company’s president, took the role on Aug. 4, while co-founder and former CEO Mike Levitt remains chairman of the board.

03.08 / 11:13

business regulation FTX Bankruptcy FTX files motion to exclude its Dubai unit from bankruptcy proceedings

Bankrupt crypto exchange FTX filed a motion in court to remove its Dubai unit from the ongoing restructuring proceedings in the United States.

03.08 / 10:17

Digital Currency Group Bankruptcy genesis Bankrupt crypto Deal end Mediation Period for Bankrupt Crypto Firm Genesis Nearing End, Deal Uncertain

Mediation between bankrupt cryptocurrency lender GenesisGlobal Holdco and creditors is set to conclude by August 16, but a deal is yet not certain.

03.08 / 09:31

business Blockchain Bankruptcy court approval BlockFi’s Chapter 11 plan progresses with conditional court approval

BlockFi’s reorganization is gradually progressing, with the company revealing that the United States Bankruptcy Court for the District of New Jersey has conditionally approved its disclosure statement.

02.08 / 03:31

business Law regulation FTX Court Bankruptcy Jail SBF denies witness tampering in effort to avoid jail

Lawyers for Sam Bankman-Fried have denied that he attempted to intimidate witnesses in his criminal trial by talking to New York Times reporters and argued there is no reason to jail him.

02.08 / 02:17

business Law regulation FTX Court Bankruptcy exit creditors FTX creditors FTX creditors unimpressed with exchange's bankruptcy exit plan

A body representing FTX customers said it is “extremely disappointed” by the exchange’s draft bankruptcy exit plan and claims it was ignored by FTX’s restructuring team.

02.08 / 00:33

FTX Bankruptcy FTX Token FTT FTX Unveils Reboot Plan for New Offshore Exchange under New Leadership

On July 31st, under its new CEO, John J. Ray III, the bankrupt cryptocurrency exchange FTX Trading Ltd. submitted a draft plan to "reboot" the collapsed crypto exchange.

01.08 / 21:41

regulation Bankruptcy hedge fund 3AC co-founder rejects jurisdiction of bankruptcy court, claiming he renounced US citizenship

Kyle Davies, the co-founder of bankrupt crypto hedge fund Three Arrows Capital (3AC), has submitted documentation to court claiming he is fully a citizen of Singapore and not the United States.

01.08 / 20:37

business Bankruptcy Customers Voyager customers targeted by scammers during 30-day withdrawal period: Report

Scammers set their sights on Voyager Digital customers during the month-long window when they were able to withdraw some portion of their funds from the bankrupt crypto brokerage, Bloomberg reported, citing Darren Azman, a lawyer for the firm. Law enforcement has been notified of the situation, he added.

28.07 / 09:23

regulation FTX Bankruptcy FTX, Genesis reach in-principle agreement to settle bankruptcy case

Bankrupt crypto exchange FTX and crypto lender Genesis have reached an agreement in principle to resolve the claims brought by FTX in its bankruptcy case.

24.07 / 06:17

business Law regulation FTX Court Bankruptcy Fried FTX’s Bankman-Fried seeks gag order for all witnesses in criminal case

Former FTX CEO Sam Bankman-Fried has agreed to a “gag order” which will prevent him from making comments to third parties that may interfere with his trial — but argues it should apply to all potential witnesses as well, including current FTX CEO John Ray.

22.07 / 16:01

business regulation Bankruptcy Celsius exit network Celsius Network reaches settlements to exit bankruptcy

Bankrupted crypto lender Celsius Network reached two settlements that allows it to return assets to customers and end its bankruptcy proceedings, according to court filings on July 20.

21.07 / 19:25

regulation FTX Court Bankruptcy Sam Sam Bankman-Fried’s brother planned to buy island and prep for apocalypse: court filing

Gabriel Bankman-Fried, the brother of former FTX CEO Sam Bankman-Fried, had a plan to survive a global catastrophe using funds from the now-defunct cryptocurrency exchange.

21.07 / 01:01

business FTX Court Bankruptcy Fried Sam FTX sues Sam Bankman-Fried and other former execs to claw back $1B

FTX has sued former CEO Sam Bankman-Fried and several other former key executives from the now-bankrupt crypto exchange to recover more than $1 billion in misappropriated funds.

20.07 / 20:27

regulation FTX Bankruptcy PHILANTHROPY life sciences FTX sues over investments, donations made by charity arm to life sciences companies

FTX’s efforts to claw back customer funds are continuing. Alameda Research and FTX filed suit on July 19 seeking the return of $71.6 million in allegedly commingled corporate and customer funds related to investments and donations to life sciences companies.

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