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Breaking: DCG owes creditors over $3B, considering $500M VC portfolio sale
12.1.2023
Crypto broker Genesis allegedly owes $900 million to clients of cryptocurrency exchange Gemini alone
Troubled Crypto Lender Genesis Owes Creditors Over $3B: FT
12.1.2023
As part of its fundraising efforts, DCG is reportedly looking at selling some of its venture capital portfolio, worth around $500 million
FTX Says it Has Secured Assets Worth $5 Billion in First Ray of Light for Creditors
12.1.2023
Bankrupt crypto exchange FTX has recovered over $5 billion in cash and liquid assets that may be used to repay creditors, a lawyer of the platform has said during a bankruptcy court hearing.
On Wednesday, FTX attorney Andrew G. Dietderich said in federal court in Wilmington, Delaware that they...
FTX customers are safe from being doxxed, for now
12.1.2023
The decision comes after a Jan. 8 filing by FTX’s lawyers who argued that public disclosure could create an undue risk of identity theft or unlawful injury to FTX creditors
Three Arrows Capital creditors express frustration with bankruptcy process during call
11.1.2023
3AC co-founder Kyle Davies announceed regular meetings with creditors, noting all involved parties are welcome to attend
BlockFi Creditors Battle to Keep Their Details Secret
11.1.2023
The legal tussle mirrors those already held for collapsed crypto lender Celsius and the FTX exchange
FTX Co-Founder’s Alleged Extravagance Comes to Light in Bankruptcy Court Documents
9.1.2023
Following the court filing that shows FTX co-founder Sam Bankman-Fried (SBF) wants access to FTX’s $460 million in Robinhood shares, Delaware bankruptcy court documents show tens of millions were spent by the FTX team in 2022 on living accommodations, hotels, food, and flights. Moreover...
Three Arrows Capital Founders Served Subpoenas via Twitter in Bankruptcy Process
5.1.2023
The founders of the now-defunct cryptocurrency hedge fund Three Arrows Capital (3AC) have been served subpoenas by the fund’s liquidators via Twitter. While serving subpoenas on Twitter is rare, it has happened on various occasions in the past, including when Wikileaks was served on Twitter...
US Bankruptcy Court Rules Celsius Deposits Belong to the Firm
5.1.2023
A New York bankruptcy court has ruled the deposits on high-interest-earning accounts belong to Celsius, the embattled former cryptocurrency lending firm, that filed for Chapter 11 bankruptcy protections in July. The decision establishes a precedent that might affect the status of other, similar...
FTX Customers File Class Action to Claim Assets Within Bankruptcy Case
28.12.2022
A group of customers are now suing FTX in an attempt to become the first to recover funds from the insolvent cryptocurrency exchange. The lawsuit, filed as part of the bankruptcy case in Delaware, seeks a court ruling recognizing that their holdings with the trading platform belong to them rather...
Philippine Regulator Warns Against Using Unlicensed Cryptocurrency Exchanges Following FTX Collapse
28.12.2022
The Philippine Securities and Exchange Commission (SEC) has advised investors against transacting with unlicensed cryptocurrency exchanges. The warning followed the collapse of crypto exchange FTX which “left hundreds of thousands, even millions of unsecured creditors with little to...
Crypto Lender Nexo Canvasses Vauld Creditors Directly With Final Takeover Offer
27.12.2022
In an open letter, the firm said earlier offers were misrepresented and it wanted to deal directly
FTX Attempts to Freeze Robinhood Shares as Creditors Swarm to Scoop $450M in HOOD Stock
23.12.2022
Court filings show that debtors from FTX Trading Ltd. and Alameda Research want 56 million shares of Robinhood stock frozen after multiple creditors are seeking access to the funds, and also Sam Bankman-Fried (SBF). Court Filing Wants to ‘Enforce an Automatic Stay’ Against Claims Over...
FTX Creditors Hire Law Firm Paul Hastings as Representation
22.12.2022
Paul Hastings beat out multiple law firms that pitched to lead legal work in the bankruptcy proceedings
Core Scientific Files for Bankruptcy Protection, Firm Plans to Continue Mining Bitcoin to Pay Down Debt
21.12.2022
On Dec. 21, 2022, one of the largest bitcoin mining operations in the industry, Core Scientific, filed for Chapter 11 bankruptcy protection in the Southern District of Texas. According to the filing, Core Scientific has roughly 1,000 to 5,000 creditors and its estimated assets are worth between...
Gemini Forms Creditors Committee With Houlihan Lokey to Resolve Genesis Liquidity Issues
18.12.2022
Roughly two weeks ago a report from the Financial Times (FT) claimed Genesis Global Capital owed $900 million to Gemini customers and the publication’s sources noted that the exchange was attempting to recover the funds by creating a creditors committee. 31 days after Gemini paused the Earn...
New York Times, FT, Bloomberg Blasted for Attempting to Get FTX Creditors’ Names Unsealed
11.12.2022
Amid the ongoing FTX bankruptcy proceedings, court documents indicate that media firms such as Bloomberg, the New York Times (NYT), Dow Jones & Company, and the Financial Times (FT) want the redacted information tied to FTX creditors unsealed. The media companies believe the public should...
Creditors of Troubled Crypto Brokerage Genesis Seek Options to Avoid Bankruptcy
30.11.2022
Creditors of the troubled crypto broker and lending firm Genesis Global are working with restructuring lawyers to draft a plan to could allow the firm to avoid bankruptcy.
According to a Bloomberg report from Tuesday, the various creditor groups have hired restructuring experts, including from...
Genesis Creditors Hire Lawyers to Find Ways to Prevent Crypto Brokerage's Bankruptcy
30.11.2022
Genesis is in talks with creditors and potential investors, Bloomberg News reports
FTX resumes employee and contractor payments after weeks in limbo
29.11.2022
The payments will exclude former FTX CEO Sam Bankman-Fried, and certain former execs including Gary Wang, Nishad Singh, and Alameda's Caroline Ellison