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Crypto bankruptcies net law firms $751M in fees
30.8.2024
Four law firms collectively earned $484 million from their work on the crypto bankruptcies, representing 64% of all fees requested and received in these cases
FTX says creditors supported reorganization plan with a 95% vote
22.8.2024
FTX chief restructuring officer and CEO John Ray III said the plan promises 100% return plus interest for non-governmental creditors
Tether to Fight Celsius' $3.3 Billion 'Shakedown' Litigation
12.8.2024
Tether, the company behind USDT, the world's largest stablecoin by market cap, said it will defend itself from "shakedown" litigation brought by bankrupt crypto lender Celsius on Friday
FTX Victims View Bankruptcy Process as 'Second Act of Theft,' File to Recover $8B in Forfeited Assets
18.6.2024
FTX's victims are seeking a court hearing to rule on their claim that all the failed crypto exchange's forfeited assets, about $8 billion, belong to its customers, not the bankruptcy estate
Legal fees skyrocket in high-profile crypto bankruptcies
31.5.2024
High-profile bankruptcy cases have become a lucrative goldmine for two major law firms involved in the legal proceedings: Sullivan and Cromwell and Kirkland and Ellis
FTX Bankruptcy Claims Surge in Value: Bids Now Approach 93 Cents on the Dollar
25.3.2024
Half a year ago, firms specializing in acquiring troubled companies and their debts were actively accumulating FTX bankruptcy claims worth millions, offering $0.33 for every dollar of claim. Presently, the valuation of these claims has significantly appreciated, with buyers now prepared to offer...
FTX Estate to Monetize AI Investment, Seeks Sale of Anthropic Shares Amid Bankruptcy Proceedings
5.2.2024
In a significant move within the crypto bankruptcy landscape, FTX Trading Ltd. has announced its intention to sell its equity interests in the artificial intelligence (AI) firm, Anthropic PBC. Holding close to an 8% stake, valued between approximately $1.47 billion to upwards of $2.4 billion,...
FTX Payment Plan Faces Backlash, Clients Slam 2022 Asset Valuation as ‘Theft,’ Urge Court for Fair Redress
22.1.2024
Following the submission of a proposal by FTX estate debtors to reimburse customer assets based on their value as of Nov. 11, 2022, numerous objections have been raised by customers. A notable objection comes from an FTX client in France, who criticizes the estate for “depleting creditor...
FTX Estate Faces Objections Over Lowered Crypto Claims Valuation Amid Bankruptcy Proceedings
28.12.2023
On Dec. 27, 2023, FTX debtors released a projected valuation of claims involving digital assets, with the proposal suggesting conversion of claims into dollar amounts pegged to crypto asset values as of Nov. 11, 2022. Consequently, an individual who held bitcoin on FTX would receive $16,871...
Galaxy Digital on the Hunt for More Crypto Bankruptcy Assets Post-FTX Deal
19.12.2023
Source: LinkedIn Galaxy Digital, the cryptocurrency group led by US billionaire Mike Novogratz, is seeking additional asset sales from bankrupt digital asset companies following a successful deal that involved selling coins held by FTX. The transaction has significantly increased Galaxy’s...
Galaxy Digital Looking to Buy More Crypto Bankruptcy Assets After Deal to Sell FTX's Coins: FT
18.12.2023
Mike Novogratz's firm is also interested in companies FTX invested in as a venture capital provider
MicroStrategy's Bitcoin stash is back in profit with BTC price above $30K
23.10.2023
The Michael Saylor-led software firm has made $132 million in unrealized profits from its Bitcoin bet
An Urban Farmstead Emerges From 3AC Co-Founder’s Bankrupt-Shadowed Mansion
5.10.2023
According to a report, the spouse of Three Arrows Capital (3AC) co-founder Su Zhu has transformed their residence into a farmstead. The farm reportedly boasts numerous garden beds, a variety of composting zones, and the couple’s swimming pool has been converted into a natural pond. Report...
A Lehman Opportunity — Distressed-Debt Titans Eye Huge Returns in FTX Claims Market
23.9.2023
Prominent distressed-debt moguls are diving into the FTX bankruptcy claims arena, seizing debts at bargain prices with aspirations of lofty profits. This year, Silver Point Capital, Diameter Capital Partners, and Attestor Capital have acquired over $250 million in FTX claims, court records reveal....
FTX's Debtors Revise Settlement Proposal After Objection From U.S. Trustee
21.8.2023
Bankrupt crypto exchange FTX's debtors have revised their motion for settlement after the U.S. Trustee objected to an earlier motion
Cameron Winklevoss Proposes 'Final Offer' in Genesis Crypto Bankruptcy Case
4.7.2023
Cameron Winklevoss, the billionaire co-founder of the Gemini crypto platform, has put forth his "best and final offer" in the bankruptcy restructuring of digital asset lender Genesis.
In an open letter to Barry Silbert, the founder of Digital Currency Group (DCG), which...
Crypto Bankruptcy Investor Ouroboros Eyes Smaller Claims
27.6.2023
The platform automates the due diligence process for buying cryptocurrency bankruptcy claims in firms like FTX or Celsius, providing previously missing liquidity for creditors owed around $50,000
A Three Arrows Capital Founder Talks About His New Crypto Bankruptcy Exchange
24.3.2023
Less than a year after Three Arrows Capital imploded along with $2.5 billion of its clients' money, the hedge fund's founders Su Zhu and Kyle Davies are back on the scene with what appears, to their credit, to be an impressive bankruptcy exchange, but is it too soon?
Sen. Warren calls out 'sham audits' while SVB threatens crypto bankruptcy
11.3.2023
Contrasting her statements against crypto auditors, numerous members highlighted the ongoing collapse of Silicon Valley Bank (SVB), a Federal Deposit Insurance Corporation-insured bank
FTX Seeks to Reclaim $400 Million From a JPMorgan Account: New York Times
15.2.2023
The funds, invested in a hedge fund called Modulo, were converted into cash and are sitting in an interest-bearing account