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Nalezeno "Insolvency": 106

Judge Upholds Confidentiality of FTX Customers’ Identities, Citing Security Concerns

10.6.2023
In the FTX bankruptcy case, the presiding judge John Dorsey has ruled to maintain the confidentiality of individual customer identities, according to a recent decision on Friday. Dorsey emphasized the importance of safeguarding these clients, expressing concern for their potential vulnerability...

Gate.io denies liquidity problems after Multichain CEO goes missing

31.5.2023
Some Twitter users posted transactions showing large inflows of MULTI and FTM to Gate.io, leading them to perceive a connection between the two organizations

Fahrenheit wins bid to acquire Celsius assets after insolvency

26.5.2023
Fahrenheit recently won the bidding process to acquire Celsius Network’s assets after insolvency. According to the court filings, Fahrenheit has gained access to 2 billion dollars worth of Celsius Network assets. The filings also mention that the group will gain Celsius’ loan portfolio mining unit...

Bankrupt Crypto Exchange FTX Continues to Explore Potential Relaunch, Court Records Reveal

23.5.2023
Recently submitted court records in the FTX insolvency case reveal that the exchange’s new CEO, John Ray III, has been exploring a revival plan for the now-disabled trading platform and the “preliminary formation of restructuring strategies.” FTX’s Revival Prospects Surface...

Youth Insolvency Spikes in South Korea – Is a Rise in Crypto Investment to Blame?

21.4.2023
Crypto investment is being blamed for a spike in the number of South Korean people aged 20-39 declaring insolvency. Per Maeil Shinmun, the Seoul Rehabilitation Court said: “The rise in [insolvency] seems to have been influenced by a growth in economic activities such as cryptocurrency and stock...

Hong Kong Judge Rules Crypto Assets as ‘Property,’ Following Similar Rulings Worldwide

19.4.2023
In a court case linked to the now-defunct crypto exchange Gatecoin, a Hong Kong judge has ruled that cryptocurrencies are “property” which is “capable of being held on trust.” According to the law firm Hogan Lovells, this case should provide greater clarity to insolvency...

‘Dr. Doom’ Nouriel Roubini Warns of Looming Banking Crisis and Trilemma for Central Banks

3.4.2023
Economist Nouriel Roubini has shared his opinion about bank problems in the United States in a recently published opinion editorial. In the article, Roubini insists that “most U.S. banks are technically near insolvency, and hundreds are already fully insolvent.” Roubini:...

Fed, central banks enhance ‘swap lines’ to combat banking crisis

20.3.2023
Currency swap lines have been used during times of crisis in the past, such as the 2008 global financial crisis and the 2020 coronavirus pandemic

US regulators shut down Signature Bank despite 'no insolvency': Report

13.3.2023
"Regulators wanted to send a very strong anti-crypto message,” said former House of Representatives member and Signature Bank board member Barney Frank

Insolvency fears led many to turn to other stablecoins, sell USDC at a major discount

12.3.2023
Several USD Coin holders have fled to other stablecoins amid fears surrounding its solvency

Bank of England Shuts Down Silicon Valley Bank’s UK Branch After US Regulators Close Parent Company

11.3.2023
After U.S. regulators shut down Silicon Valley Bank (SVB) on Friday, the Bank of England has closed the company’s U.K.-based arm. The central bank explained that it intends to place the subsidiary into bank insolvency procedures. Fallout From SVB Failure Prompts BOE to Close U.K. Branch...

NYDFS advises crypto firms not to commingle user and corporate funds in the event of insolvency

23.1.2023
“A VCE's customer agreement should make clear the parties’ intentions to enter into a custodial relationship, rather than a debtor-creditor relationship," said the NYDFS

In Wake of FTX, New York Reminds Crypto Firms to Segregate Customer Funds

23.1.2023
After crypto exchange FTX's bankruptcy proceedings revealed poor segregation of customer funds, the New York regulator is reminding service providers to keep clean records

SBF says Sullivan & Cromwell contradicted itself with insolvency claims

18.1.2023
The former FTX CEO says the exchange’s new attorneys are not taking into account customer bank balances

Huobi confirms 20% layoffs, denies insolvency rumors

6.1.2023
Key Huobi execs, including Huobi Group CFO Lily Zheng allegedly left the company a few months ago following the new shareholders’ takeover

Global Cryptocurrency Trade Volumes Saw a Significant Decline in December 2022

1.1.2023
According to statistics, daily cryptocurrency trade volumes have dropped significantly during Dec. 2022. On Jan. 1, data shows that $22.95 billion was traded in the last 24 hours, compared to double that amount, $54.78 billion, two weeks earlier. On November 8, 2022, 54 days prior, amid the...