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Nalezeno "Insolvency": 60

Investors in Collapsed Ponzi Scheme Resist Liquidator’s Attempts to Force Repayment at Current BTC Prices

20.2.2024
Investors in the bitcoin Ponzi scheme Mirror Trading International are reportedly resisting liquidators’ attempts to have them repay digital assets withdrawn before it collapsed. According to the investors’ lawyer, MTI liquidators are intentionally misinterpreting the Insolvency...

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...

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...

Three Arrows Capital Liquidator May Try to Claw Back About $1.2B From DCG, BlockFi

7.7.2023
A July 7 report from Teneo, the hedge fund’s liquidator, described the potential claims

Bitcoin Firm Coinbits Suspends Operations Amidst Custodian Prime Trust’s Financial Woes

29.6.2023
The cryptocurrency firm and bitcoin investment app, Coinbits, has announced the suspension of its services due to complications involving the Nevada-based custodian, Prime Trust. Following accusations of insolvency and breaches of fiduciary responsibilities, Nevada’s financial regulators...

Nevada’s Financial Watchdog Seeks Receivership of Crypto Custodian Prime Trust Amidst Insolvency Concerns

28.6.2023
In a recent submission to the Eighth Judicial District Court in Las Vegas, the Nevada Financial Institutions Division has expressed its intention to take decisive action against the crypto custodian Prime Trust. The regulatory body seeks to not only shut down Prime Trust but also swiftly seize...

Study Shows Bank of England’s Rising Interest Rates Threaten 1.2 Million UK Households With Insolvency

25.6.2023
The Bank of England made an impactful move last Thursday, June 22, 2023, as it raised the benchmark bank rate to 5%, marking a significant 0.5 percentage point increase. This decision catapults the central bank’s rate to its highest level since 2008 and represents the most substantial surge...

Crypto Firm Abra Said to be Insolvent in Texas State Regulators’ Cease-and-Desist Order

16.6.2023
According to an emergency cease-and-desist order from the Texas State Securities Board, the cryptocurrency firm Abra is “insolvent or nearly insolvent.” The filing alleges that a group of state securities regulators has been investigating Abra, and the working group interviewed William...

Crypto Lender Abra Has Been Insolvent for Months, State Regulators Say

15.6.2023
Crypto lender Abra has been insolvent since at least March 31, 2023, state securities regulators alleged on Thursday

Judge Upholds Confidentiality of FTX Customers’ Identities, Citing Security Concerns

10.6.2023
In the FTX bankruptcy case, the presiding judge John Dorsey has ruled to maintain the confidentiality of individual customer identities, according to a recent decision on Friday. Dorsey emphasized the importance of safeguarding these clients, expressing concern for their potential vulnerability...

Gate.io denies liquidity problems after Multichain CEO goes missing

31.5.2023
Some Twitter users posted transactions showing large inflows of MULTI and FTM to Gate.io, leading them to perceive a connection between the two organizations

Bankrupt Crypto Exchange FTX Continues to Explore Potential Relaunch, Court Records Reveal

23.5.2023
Recently submitted court records in the FTX insolvency case reveal that the exchange’s new CEO, John Ray III, has been exploring a revival plan for the now-disabled trading platform and the “preliminary formation of restructuring strategies.” FTX’s Revival Prospects Surface...

Hong Kong Judge Rules Crypto Assets as ‘Property,’ Following Similar Rulings Worldwide

19.4.2023
In a court case linked to the now-defunct crypto exchange Gatecoin, a Hong Kong judge has ruled that cryptocurrencies are “property” which is “capable of being held on trust.” According to the law firm Hogan Lovells, this case should provide greater clarity to insolvency...

Fed, central banks enhance ‘swap lines’ to combat banking crisis

20.3.2023
Currency swap lines have been used during times of crisis in the past, such as the 2008 global financial crisis and the 2020 coronavirus pandemic

Bank of England Shuts Down Silicon Valley Bank’s UK Branch After US Regulators Close Parent Company

11.3.2023
After U.S. regulators shut down Silicon Valley Bank (SVB) on Friday, the Bank of England has closed the company’s U.K.-based arm. The central bank explained that it intends to place the subsidiary into bank insolvency procedures. Fallout From SVB Failure Prompts BOE to Close U.K. Branch...

Global Cryptocurrency Trade Volumes Saw a Significant Decline in December 2022

1.1.2023
According to statistics, daily cryptocurrency trade volumes have dropped significantly during Dec. 2022. On Jan. 1, data shows that $22.95 billion was traded in the last 24 hours, compared to double that amount, $54.78 billion, two weeks earlier. On November 8, 2022, 54 days prior, amid the...