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Genesis Agrees to Pay $21M Fine to Settle SEC Crypto Lending Charges
19.3.2024
Bankrupt cryptocurrency lender Genesis Global Capital has agreed to pay a $21 million fine as part of a final court judgement to settle charges with the U.S. Securities and Exchange Commission (SEC). In an official ruling released on March 19, the SEC highlighted the reason for the penalty...
Terraform Labs Secures Dentons Representation Despite Objections, U.S. Court Decides
13.3.2024
US Judge Brendan Shannon has granted bankrupt crypto company Terraform Labs permission to hire Dentons for its legal representation, according to a report by Reuters. Shannon approved the hiring at a bankruptcy court hearing in Wilmington, Delaware after he deemed Terraform’s legal spending...
Bankrupt Cryptopia Exchange to Return Crypto to Some Creditors
8.3.2024
The New Zealand exchange went offline in 2019 following a cyber attack that saw millions of dollars worth of tokens stolen
Pantera Capital in Quest for Funds to Acquire Solana from Bankrupt FTX Estate
8.3.2024
Crypto asset manager Pantera Capital is seeking funding from major investors to purchase Solana (SOL) tokens at a discounted rate from the bankrupt FTX estate.
The post Pantera Capital in Quest for Funds to Acquire Solana from Bankrupt FTX Estate appeared first on Cryptonews
FTX Cleared to Sell Its Stake in AI Startup Anthropic: Report
23.2.2024
Bankrupt cryptocurrency exchange FTX has been permitted to sell its shares in the artificial intelligence firm Anthropic, according to an issue ordered by U.S. Federal Judge John Dorsey on Thursday, reports Reuters.
The post FTX Cleared to Sell Its Stake in AI Startup Anthropic: Report appeared...
Court Frees Genesis to Sell GBTC Shares Worth $1.3B to Compensate Clients
15.2.2024
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...
SafeMoon CEO Gets Bail, But His Legal Team Wants to Opt Out
13.2.2024
CEO of bankrupt crypto project SafeMoon Braden John Karony is released on bail, but his legal team no longer wants to represent him. In Nov. 2023, Karony and SafeMoon CTO Thomas Smith were arrested on charges of securities fraud, money laundering, and conspiracy to commit wire fraud. However,...
Grayscale and DCG Object to Genesis’ $1.6B Trust Shares Liquidation Plan
12.2.2024
On February 12, Digital Currency Group (DCG) and Grayscale raised objections to bankrupt lender Genesis’ plan to sell off its assets. This includes shares in Grayscale’s Bitcoin Trust (GBTC), Grayscale Ethereum Trust (ETHE), and Grayscale Ethereum Classic Trust (ETCG), amounting...
Bankrupt Crypto Lender Genesis Moves to Settle with NY Attorney General
9.2.2024
Bankrupt lender Genesis on Thursday settled a lawsuit with New York Attorney General Letitia James over its now-defunct Earn program. The Earn program, operated jointly with Gemini Trust, offered customers up to 8% interest on crypto loans. But it was suspended amid the crypto market downturn...
Genesis Seeks Court Approval to Offload $1.4 Billion in GBTC Assets Post-SEC Settlement
4.2.2024
After reaching an agreement with the U.S. Securities and Exchange Commission (SEC), the bankrupt company Genesis Global Capital has submitted a petition to the bankruptcy court to dispose of holdings from Grayscale’s Bitcoin Trust, Ethereum Trust, and Ethereum Classic Trust. These assets...
FTX Seeks Exit from Anthropic Holdings, Proposes Entire 8% Stake Sale
4.2.2024
Bankrupt cryptocurrency exchange FTX is seeking approval to sell its 8% stake in AI startup Anthropic Holdings. The motion, filed by FTX’s current CEO, John Ray III, requests permission to sell the stake and proposes two possible procedures, including an auction or a private sale. FTX aims...
Larry David Reflects on Super Bowl FTX Ad: ‘Like an Idiot, I Did It’
3.2.2024
At the premiere of “Curb Your Enthusiasm’s” final season, Larry David expressed remorse for his participation in a Super Bowl commercial for FTX, reflecting on the decision as misguided after the cryptocurrency exchange’s bankruptcy. Larry David Admits Regret Over FTX Super...
Comedy Icon Larry David Says He Was an ‘Idiot’ For Taking Part in FTX Super Bowl Ad
2.2.2024
Renowned comedian Larry David has expressed regret over his decision to star in a Super Bowl commercial for the now-bankrupt cryptocurrency exchange FTX. The FTX ad aired during Super Bowl LVI. Speaking during the final season premiere of “Curb Your Enthusiasm,” the hit show in which...
Alameda Research Drops Lawsuit Against Grayscale Amid GBTC Outflows
22.1.2024
Alameda Research Ltd., the hedge fund associated with the bankrupt cryptocurrency exchange FTX, has voluntarily dropped its lawsuit against Grayscale Investments amid GBTC outflows. According to court filings from January 22, Alameda opted out of suing Grayscale, its CEO Michael Sonnenshein,...
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...
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...
Controversy Arises as Genesis Creditors Challenge DCG’s Claim of Full Debt Repayment
10.1.2024
Genesis Global Source: AdobeStock / Timon Digital Currency Group (DCG) is facing allegations from an ad hoc group of lenders, claiming that DCG has not fulfilled its repayment requirements to its bankrupt subsidiary, Genesis Global. Despite DCG’s recent announcement on X that it had fully...
Digital Currency Group has Settled Over $1 Billion in Debt, Including $700 Million Owed to Bankrupt Genesis
8.1.2024
Source: Digital Currency Group Digital Currency Group (DCG) has successfully settled over $1 billion in debt, including the substantial amount of nearly $700 million owed to its bankrupt subsidiary, Genesis. The announcement came from DCG CEO Barry Silbert, who took to the social media platform...
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 Network Unstakes Ethereum Holdings Amid Reorganization Efforts
5.1.2024
The bankrupt cryptocurrency lender Celsius Network announced its plan to unstake significant holdings of ethereum to facilitate asset distribution to its creditors. This move is part of the firm’s ongoing efforts to restructure and resolve outstanding liabilities. Crypto Lender Celsius...