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FTX Under New Scrutiny: Appellate Court Orders Independent Investigation
21.1.2024
An independent examiner was initially barred from delving into the FTX bankruptcy case. However, the Third Circuit Court of Appeals in Philadelphia has recently overturned this decision, mandating that the defunct crypto exchange undergo an investigation by an external party. This ruling points...
Bitcoin Miner Core Scientific Set to Emerge From Bankruptcy
18.1.2024
Core Scientific has received the go-ahead from bankruptcy court for its reorganization, paving the way for the bitcoin mining giant to relist its shares on Nasdaq. Core Scientific Set for a Major Turnaround Core Scientific, Inc., a major bitcoin miner, is about to emerge from Chapter 11 bankruptcy....
Bitcoin Miner Core Scientific Overcomes Bankruptcy, Eyes Stock Market Return
17.1.2024
Source: Adobe / artiemedvedev The major US-based Bitcoin miner Core Scientific has emerged from bankruptcy. The company is now preparing to return to the stock market. The United States Bankruptcy Court for the Southern District of Texas has confirmed Core Scientific’s Chapter 11 plan...
Sam Bankman-Fried's Parents Ask Court to Dismiss FTX's Lawsuit Seeking to Recover Funds
17.1.2024
Joseph Bankman and Barbara Fried, the parents of Sam Bankman-Fried, have asked a court to dismiss a lawsuit by the bankrupt cryptocurrency exchange FTX seeking to recover funds it alleges were fraudulently transferred
Bitcoin Price Prediction: BTC Nears $43,000 Amid Core Scientific Bankruptcy, Bukele Reelection & Grayscale ETF News
17.1.2024
In a dynamic week for the cryptocurrency market, Bitcoin price prediction is neutral as BTC is trading at $42,870 with a modest increase of less than 0.25% as of Wednesday. This uptick comes amidst a flurry of significant developments. Core Scientific, a prominent Bitcoin mining entity,...
South Korean Bankruptcy Court Judge Calls for More Crypto Regulation
17.1.2024
Source: Valerii Evlakhov/Adobe A South Korean bankruptcy court judge has called on the government to bolster regulation in the crypto industry, claiming investors need more protection. Per Newsis, the claims were made by Judge Lee Seok-jun, of the Seoul Bankruptcy Court. Lee wrote a paper...
Bitcoin Miner Core Scientific to Emerge From Bankruptcy, Re-List Shares This Month
16.1.2024
The bankrupt miner received court approval for its Chapter 11 reorganization plan and plans to re-list shares on Nasdaq end of January
FTX Creditors File Motion to Block Crypto Valuation with Low 2022 Prices
12.1.2024
Source: Adobe / Александр Поташев A group of FTX creditors have filed a motion seeking to stop plans of the collapsed exchange from valuing their cryptocurrency assets based on 2022 prices. FTX Creditors...
Celsius Targets Withdrawals Made 90 Days Before Bankruptcy for Repayment
10.1.2024
Source: Adobe / FellowNeko The bankrupt crypto lender Celsius Network has notified its creditors that customers who made substantial withdrawals in the 90 days leading up to the bankruptcy declaration may need to return a portion of the funds or face legal consequences. According to a notice...
Bankruptcy Move: FTX Ventures Cuts Deal with Dave for $100 Million Stake
6.1.2024
Source: Sora Shimazaki / Pexels Dave, a fintech firm specializing in financial services through its mobile application, is set to acquire a $100-million convertible promissory note previously issued to FTX Ventures, the venture capital arm of bankrupt crypto exchange FTX. The deal involves Dave...
Celsius to Unstake Thousands of Ether, Possibly Easing ETH Selling Pressure
5.1.2024
The defunct crypto lender sent over 30,000 ETH to custodian Fireblocks in the past week, some of which was deposited at crypto exchange Coinbase, data shows
Bankruptcy Judge Greenlights Celsius Shift to Bitcoin Mining
30.12.2023
The now-defunct crypto lender Celsius has received authorization to pivot to bitcoin mining, following approval from U.S. District Judge Martin Glenn of Manhattan for the firm’s revised strategy. This move comes after the company’s initial proposal encountered obstacles from the U.S....
FTX Debtors Release Estimated Values for Cryptocurrency Claims, Bitcoin Priced at $16,871 per Coin
29.12.2023
Source: Adobe / Александр Поташев FTX Trading Ltd. affiliated debtors have submitted a motion for the entry of an order estimating the value of claims related to digital assets and fiat currency, including customer entitlement claims. In a filing made on December 27 in the United States Bankruptcy...
US Bankruptcy Court Approves $225M ‘MiningCo Transaction’ for Celsius, Prevents Securities Ruling in Chapter 11 Proceedings
28.12.2023
Source: Adobe/Canva Bankrupt cryptocurrency lending company Celsius Network has achieved a significant milestone in its Chapter 11 bankruptcy proceedings. The United States Bankruptcy Court for the Southern District of New York has granted approval for Celsius Network’s proposed...
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...
Mt. Gox Appears to Have Started PayPal Repayments Tied to 2014 Bitcoin Hack
26.12.2023
Payments through bank accounts are still awaited
Former FTX CEO Sam Bankman-Fried and Debtors Reach Settlement in Embed Proceeding
26.12.2023
Image by Александр Поташев, Adobe Stock The bankrupt crypto exchange FTX and its debtors have reached a settlement agreement with founder Samuel Bankman-Fried and others to address certain claims related to the acquisition of the stock trading platform Embed. In a December 22 filing with the United...
Report: British Virgin Islands Court Freezes 3AC Assets Worth Over $1 Billion
23.12.2023
A court in the British Virgin Islands has issued an order to freeze assets worth over $1 billion belonging to the founders of the defunct crypto hedge fund Three Arrows Capital. The worldwide freeze order also bars Kelly Chen, the wife of Kyle Davies, from transferring or selling...
SEC Chair Gary Gensler Issues Crypto Warnings as Anticipation of Spot Bitcoin ETF Approval Soars
23.12.2023
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has issued warnings regarding cryptocurrency investments. “There is a lot of noncompliance in the crypto space,” he stressed, emphasizing that it “undermines confidence when so many people have been hurt and...
Galaxy Digital Seeking to Score Deals From Defunct Cryptocurrency Companies
22.12.2023
Galaxy Digital, a digital assets and blockchain financial services company, is seeking to score deals with defunct cryptocurrency companies to acquire their assets. According to reports, the company is eyeing FTX’s venture capital portfolio, which has a sizable stake in artificial...