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Nalezeno "Bankruptcy": 1399

FTX’s Legal Labyrinth: S&C Scrutinized Over Past Ties and Fraud Claims


FTX creditors have filed a class-action lawsuit against the law firm overseeing the exchange’s bankruptcy, Sullivan & Cromwell (S&C). The creditors allege that S&C actively participated in FTX Group’s multibillion-dollar fraud and benefited financially from it. According...

Court Frees Genesis to Sell GBTC Shares Worth $1.3B to Compensate Clients


Genesis Global obtained bankruptcy court approval on Wednesday to sell its Grayscale Bitcoin Trust (GBTC) shares. The bankrupt crypto lender can now sell its 35m GBTC shares worth over $1.3b as part of efforts to reimburse customers. In a Feb. 14 hearing conducted via Zoom, Judge Sean Lane signed...

Over $11 Million in Liquidity Drained From SafeMoon by Unknown Individual


An unknown individual drained over $11 million in liquidity from various pools associated with the controversial cryptocurrency project SafeMoon on Monday. The transaction triggered immediate speculation about a possible connection to SafeMoon’s ongoing bankruptcy proceedings. Blockchain...

US Judge Approves Sealed Settlement Between BlockFi and Three Arrows Capital


A United States judge has given approval to a sealed settlement that resolves the claims and disputes between crypto lender BlockFi and defunct crypto hedge fund Three Arrows Capital (3AC). Judge Michael Kaplan approved the settlement during a hearing on February 6th in the New Jersey Bankruptcy...

Bankruptcy Was Crypto Winter’s Circuit Breaker


Societies have often frowned on bankruptcy, viewing it in moral terms as a breach of trust. But, in the wake of 2022's scandals, the process helped relaunch the crypto industry, says Michael Casey

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