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Nalezeno "Bankruptcy Proceedings": 59

Creditors Accuse Crypto Lender Genesis of Vote Buying as Bankruptcy Proceedings Continue

1.9.2023
Creditors of crypto lender Genesis and its parent company the Digital Currency Group (DCG) have opposed a proposed settlement deal leveling accusations of voter manipulation. According to a filing on Aug. 31, creditors including digital asset exchange Gemini have criticized the proposal as...

Judge Cites Ripple Case in Rejecting CEL's Security Classification in Bankruptcy Proceedings

26.8.2023
A bankruptcy judge has refused to determine whether CEL, the native token of Celsius, should be classified as a security, citing the ongoing legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC). Otis Davis, one major CEL token order, had previously asked the judge...

FTX Seeks to Exclude Dubai Subsidiary From Ongoing Bankruptcy

3.8.2023
FTX Trading Ltd. filed a motion on Tuesday to dismiss its Dubai-based subsidiary, FTX Exchange FZE, from ongoing bankruptcy proceedings, citing the unit’s lack of operations and assets. Dubai’s FTX Exchange Faces Voluntary Liquidation After Motion to Dismiss From Parent Company In...

FTX files motion to exclude its Dubai unit from bankruptcy proceedings

3.8.2023
FTX filed for bankruptcy in November last year, entering into Chapter 11 proceedings with 102 units around the world

FTX Wants Dubai Unit Removed From U.S. Bankruptcy Proceedings

3.8.2023
Liquidating FTX Dubai under UAE law would help timely distribution of any outstanding liabilities, the bankrupt estate argued in court filings

FTX Unveils Reorganization Strategy, Proposing ‘Offshore Crypto Exchange’ and New Trust

1.8.2023
In the midst of the bankruptcy proceedings, FTX presented its primary reorganization strategy and term sheet to the U.S. bankruptcy court, detailing an ambitious plan to reinvent FTX as an “offshore crypto exchange” while also founding a new limited liability trust. At this time, the proposed...

FTC Slaps Crypto Lender Celsius With $4.7B Fine for Deceiving Consumers and Mismanaging Deposits

13.7.2023
On Thursday, following the U.S. Securities and Exchange Commission (SEC) suing the insolvent crypto lender Celsius, the Federal Trade Commission (FTC) divulged a settlement with the firm and imposed a $4.7 billion fine for “duping consumers.” Nevertheless, the penalty will be deferred to enable...

Voyager Digital’s Bankruptcy Battle Racks Up Millions in Legal Expenses

4.7.2023
A recent court filing from the now-insolvent Voyager Digital Holdings and its creditor committee revealed that legal expenses amounting to $16.5 million have accumulated from July 22, 2022, through May 18, 2023. The records indicate that between March and May 2023, roughly $5.17 million in legal...

FTX Spent Over $120 Million on Advisory Fees in Just Three Months as Bankruptcy Proceedings Continue

20.6.2023
The bankrupt crypto exchange FTX is facing escalating legal and advisory costs, recent filings submitted by the exchange’s bankruptcy advisors have revealed. Judging from information in the filings, FTX's advisors billed the exchange a staggering $121.8 million in fees and expenses for the period...

Bittrex US Allows Fiat and Crypto Withdrawals Amid Bankruptcy Proceedings

17.6.2023
Bittrex US, the now-defunct cryptocurrency exchange in the United States, has recently introduced a plan that permits American customers to withdraw crypto and fiat from the platform, provided they satisfy the required regulatory criteria. This withdrawal arrangement was approved on Tuesday by...

US Justice Department Objects to Bittrex’s Plan To Repay Customers in Bankruptcy Proceedings

8.6.2023
The US Department of Justice objected to a proposal by crypto exchange Bittrex to return money to customers as part of its liquidation plan. Bittrex filed for bankruptcy in May in a federal court in Delaware after facing scrutiny from both the Justice Department and the US Securities and Exchange...

Crypto Exchange QuadrigaCX Former Users Set to Receive 13% on the Dollar in Bankruptcy Proceedings

14.5.2023
Former users of now-bankrupt Canadian crypto exchange QuadrigaCX are set to receive 13% of their total claims. According to a notice to creditors published late Friday by accounting giant Ernst & Young (EY), each creditor of the exchange will receive "13.094156% of their proven claim less the levy...

Bittrex Processed $425 Million in Withdrawals Since April 1, Claims Attorney Amid Bankruptcy Proceedings

11.5.2023
The US and Maltese arms of crypto exchange Bittrex have processed $425 million in withdrawals since the platform announced plans to wind down US operations. On Wednesday, Bittrex attorney Susheel Kirpalani reportedly told a Delaware bankruptcy court that the firm had not engaged in any negative...

Coinbase Severs Ties With Silvergate Bank Amidst JPMorgan Downgrade and Delayed SEC Filing

2.3.2023
On March 2, 2023, the cryptocurrency exchange Coinbase announced that, in light of recent developments, the company is “no longer accepting or initiating payments to or from Silvergate Bank.” The news follows the crypto bank’s delay of its annual 10-K filing with the U.S....

FTX debtors seek subpoenas for inner circle of Sam Bankman-Fried

1.2.2023
FTX and affected parties have requested court subpoenas to force Sam Bankman-Fried’s closest advisors to provide documents and information for ongoing investigations

FTX Debtors Seek Dismissal of Turkish Entities in Chapter 11 Bankruptcy Proceedings

31.1.2023
FTX debtors have filed a motion with the court requesting to dismiss its Turkish subsidiaries from the Chapter 11 bankruptcy proceedings. The defunct crypto exchange’s lawyers believe dismissing the entities “is in the best interests” of creditors, and FTX debtors do not believe...