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Genesis Global secures court approval for $3B payout
18.5.2024
According to Judge Lane, any available funds for distribution by Genesis are being exhausted by creditor claims, which take priority over DCG’s equity stake
Small creditors put at risk by latest FTX bankruptcy development
15.5.2024
The transfer of the bankruptcy claim from FTX EU Ltd. to FTXCREDITOR, LLC, could have significant impact on stakeholders
Bankrupt Crypto Lender Blockfi Enlists Coinbase to Distribute Crypto Payouts
10.5.2024
The now-defunct crypto lender Blockfi is officially shutting down the firm’s web portal this month according to an update from the firm. Blockfi said that it has partnered with Coinbase to help facilitate the execution of withdrawals to eligible Blockfi customers. Blockfi Collaborates With Coinbase...
Celsius Emerges From Bankruptcy, Begins to Distribute $3 Billion to Creditors
1.2.2024
Celsius has concluded its Chapter 11 bankruptcy process and is embarking on a new journey with the launch of Ionic Digital, Inc., a bitcoin mining company managed by Hut 8 Corp. This development follows a complex legal and financial restructuring, which will include over $3 billion distributed...
US Crypto Exchange Bittrex Receives Bankruptcy Nod to Cease its Operations
31.10.2023
A Delaware court judge approved the Chapter 11 plan of Seattle-based cryptocurrency exchange Bittrex on Monday to cease its operations. In April, the US Securities and Exchange Commission (SEC) charged Bittrex, its co-founder and former CEO William Shihara. Bittrex faced allegations of operating...
FTX customers could get $9B shortfall claim payout by mid-2024
17.10.2023
A proposed settlement could see creditors receive a shortfall claim of $8.9 billion for FTX.com and $166 million for FTX US
Crypto lender BlockFi gets court nod to repay customers
27.9.2023
The approval is seen as a milestone moment for BlockFi's over 100,000 creditors, who have been long awaiting repayment
Crypto Collapse: Prime Trust’s Fall From Grace and the Disappearing Wallet Mystery
25.8.2023
After Prime Trust filed for bankruptcy protection, the company’s interim CEO Jor Law cited excessive spending, losses on the stablecoin terrausd, and problems accessing customer funds held in cold storage wallets as contributing factors. From Cold Storage to Cold Reality: The Dramatic Decline...
What is Chapter 11 bankruptcy? Understand the basics
18.8.2023
Understand how companies reorganize amid financial challenges to ensure business continuity via Chapter 11 bankruptcy
Bitgo Secures $100 Million in Series C, Firm’s Valuation Climbs to $1.75 Billion
16.8.2023
The digital asset trust firm Bitgo, headquartered in Palo Alto, California, has secured $100 million in a Series C funding round. While the company remains tight-lipped about the participants in this financial endeavor, this fresh infusion of capital catapults the firm’s post-valuation...
Prime Trust Crypto Custodian Enters Chapter 11 Bankruptcy Amid Prolonged Crypto Winter
16.8.2023
On Monday, Las Vegas cryptocurrency custodian Prime Trust filed for Chapter 11 bankruptcy protection, marking another setback for the troubled fintech company.
In the August 15th filing, the company stated that it has 25,000 to 50,000 creditors and expects liabilities of $100 million to $500...
From Crypto Custodian to Court: Prime Trust Files for Bankruptcy Protection
15.8.2023
In the wake of financial upheavals and regulatory hurdles, Prime Trust, a digital currency custodian, has formally sought Chapter 11 bankruptcy protection. This move closely follows the appointment of John Guedry as the company’s overseer, bolstered by a designated committee to steer...
Crypto custodian Prime Trust files for Chapter 11 bankruptcy
15.8.2023
The crypto custodian's bankruptcy comes as it's been unable to honor customer withdrawals for months
FTX Seeks to Exclude Dubai Subsidiary From Ongoing Bankruptcy
3.8.2023
FTX Trading Ltd. filed a motion on Tuesday to dismiss its Dubai-based subsidiary, FTX Exchange FZE, from ongoing bankruptcy proceedings, citing the unit’s lack of operations and assets. Dubai’s FTX Exchange Faces Voluntary Liquidation After Motion to Dismiss From Parent Company In...
Bankruptcy Tussle Between Crypto Firms FTX and Genesis Nears Resolution
29.7.2023
The long-standing legal feud between FTX Trading and Genesis Global Holdco is taking a turn towards resolution. The two parties have reached an initial agreement, in principle, following bankruptcy protection disputes that have made industry headlines. An official letter to the bankruptcy judge...
FTX, Genesis reach in-principle agreement to settle bankruptcy case
28.7.2023
FTX and Genesis lawyers have sent a letter to the bankruptcy judge regarding a settlement agreement
SEC Sues Bankrupt Crypto Lender Celsius, Alleges Misrepresentation of Customer Count and Risky Practices
13.7.2023
The U.S. Securities and Exchange Commission has filed a lawsuit against the now-defunct cryptocurrency lender, Celsius. The suit, filed Thursday, also names former CEO Alexander “Alex” Mashinsky as a defendant. Both he and the company stand accused of falsely promising investors a safe...
Voyager Digital’s Bankruptcy Battle Racks Up Millions in Legal Expenses
4.7.2023
A recent court filing from the now-insolvent Voyager Digital Holdings and its creditor committee revealed that legal expenses amounting to $16.5 million have accumulated from July 22, 2022, through May 18, 2023. The records indicate that between March and May 2023, roughly $5.17 million in legal...
Celsius creditors allege Wintermute facilitated 'wash trading': Report
24.6.2023
It was alleged that Celsius executives engaged Wintermute to conduct wash trading to “fraudulently" manipulate trading volumes on the Celsius platform
FTX bankruptcy will be ‘very expensive’ but there’s a reason: Auditor
21.6.2023
The legal fees charged in the first months of FTX’s bankruptcy have been examined by an auditor, who has confirmed the case is “on track to be very expensive.”