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SEC Postpones Decision on BlackRock’s Spot Ethereum ETF to March
25.1.2024
The U.S. Securities and Exchange Commission has delayed its decision on BlackRock’s spot Ethereum exchange-traded fund (ETF) application to March. According to the SEC’s latest filing, the new decision deadline for BlackRock’s spot Ethereum ETF is set to be March 10, 2024. The Commission will then...
Just In: FTX’s Bankruptcy Estate Sold 22 Million GBTC Shares, Leading to $1 Billion GBTC Outflow
22.1.2024
FTX’s $1 billion sell-off of its GBTC shares was a major catalyst of the trust’s outflows after becoming a spot Bitcoin ETF. Image by Formatoriginal, Adobe Stock. The ongoing bankruptcy proceedings for crypto exchange FTX have led to major sell-offs from one of the largest bitcoin...
Terraform Labs Files for Bankruptcy in US Amid SEC Lawsuit
22.1.2024
Terraform Labs has filed for Chapter 11 bankruptcy in the U.S. amid ongoing litigation with the U.S. Securities and Exchange Commission (SEC). The company stated in its bankruptcy filing that “funds will be available for distribution to unsecured creditors.” Meanwhile, Terraform Labs...
SEC Agrees to Postpone Terraform Labs Trial Pending Do Kwon’s Extradition
16.1.2024
The U.S. Securities and Exchange Commission (SEC) has filed in agreement with Terraform Labs to postpone the civil trial against Do Kwon and his former company, amid ongoing extradition proceedings. According to Reuters, in its recent court filing in Manhattan federal court, the SEC has requested...
Terra’s Do Kwon Seeks Trial Delay, Citing Extradition Holdup
14.1.2024
Terraform Labs co-founder Do Kwon has requested that the judge in his fraud case delay the trial date, currently set for Jan. 29, 2024, because Kwon is still tied up in extradition proceedings in Montenegro. Terra’s Do Kwon Requests Trial Postponement Due to Extradition Issues In a letter...
SEC Meets With Major Exchanges to Discuss Spot Bitcoin ETFs — Analysts Expect Imminent Approval
5.1.2024
The U.S. Securities and Exchange Commission (SEC) has met with officials from major exchanges to discuss spot bitcoin exchange-traded funds (ETFs). Sources close to the proceedings say the securities regulator could begin notifying issuers of spot bitcoin ETF approval on Friday and trading could...
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 Creditors Report Double Payments in Settlement Funds; Exchange Seeks Remediation
27.12.2023
Source: AdobeStock / 24K-Production Mt. Gox, the once-dominant cryptocurrency exchange that famously collapsed in 2014, has recently encountered a new hurdle in its efforts to repay creditors. Reddit users are now reporting a payment error stemming from what the exchange describes as...
Bulgarian Prosecutors Drop Charges Against Crypto Lender Nexo — ‘No Evidence of Criminal Activity’
26.12.2023
The prosecutor’s office for Sofia, the capital city of Bulgaria, has dropped criminal proceedings against crypto lender Nexo. “The team of supervising prosecutors came to the conclusion that there was no evidence of committed crimes,” the authorities stated, adding that crypto...
Bankrupt Crypto Firm FTX Trading Reaches Settlement With Bahamian Subsidiary
19.12.2023
FTX Trading Ltd. and its affiliated debtors have announced a landmark settlement with their Bahamian subsidiary, FTX Digital Markets Ltd., amid ongoing liquidation proceedings. This agreement, pending court approval, promises a novel approach to handling the complex legal challenges stemming from...
Breaking: Global Settlement Reached in FTX Digital Markets Liquidation
19.12.2023
FTX struck a global settlement between its US and Bahamas bankruptcy proceedings in an attempt to jointly maximize creditor payouts. Image by Александр Поташев, Adobe Stock. The ongoing saga following the dramatic collapse of Sam Bankman-Fried‘s bankrupt cryptocurrency exchange FTX took...
DCG Can't Sell or Reduce Ownership of Genesis Until Bankruptcy Proceedings Close, Judge Rules
19.12.2023
Genesis requested a New York bankruptcy court to bar ownership changes to secure tax benefits on around $700 million worth of operating losses
Bitcoin Miner Hut 8 to Build Out Mining Facility in Partnership with Celsius
18.12.2023
Source: Pixabay Digital asset mining firm Hut 8 signed an interim agreement to build out and install crypto-mining facilities in collaboration with Celsius Network. In a Dec 18 press release, the Bitcoin miner signed the agreement linked to Celsius bankruptcy proceedings which will see the firm...
Safemoon Files for Chapter 7 Bankruptcy Protection Amid Securities and Wire Fraud Charges
17.12.2023
In the latest development, Safemoon, a crypto company, voluntarily initiated Chapter 7 bankruptcy proceedings in the District of Utah, as stated in their bankruptcy documentation. This action comes on the heels of the company’s founders facing indictment for securities fraud, wire fraud,...
Bitcoin ETF Decision Dates Approach: What to Expect in January
2.12.2023
Image by Parradee, Adobe Stock The Securities and Exchange Commission (SEC)’s move to start a public comment period for spot Bitcoin (BTC) ETF applications earlier than expected has stirred up optimism around the launch of these products. On November 28, the SEC published filings instituting...
SEC Accuses Kraken of Operating Unregistered Platform, Kraken Responds
21.11.2023
Source: Kraken The U.S. Securities and Exchange Commission (SEC) has initiated legal proceedings against the cryptocurrency exchange Kraken, claiming it has been operating an unregistered securities trading platform. The SEC filed the lawsuit in North District of California against the parent firms...
Mediation to begin in FTX, BlockFi Case, Judge Rules
14.11.2023
In a court filing on November 13th, U.S. bankruptcy judge Michael Kaplan ended an automatic stay on proceedings between bankrupt crypto companies FTX and BlockFi, paving the way for mediation in their claims settlement. BlockFi’s forced bankruptcy FTX founder, Sam Bankman-Fried, was found...
Spanish Watchdog Initiates Sanctions Against Miolos for Violating Crypto Ad Rules
9.11.2023
Source: Pixabay The National Securities Market Commission (CNMV) of Spain has opened its first crypto infringement case against local technology provider Miolos. CNMV, the Spanish securities markets regulatory body, released an agreement on Wednesday, announcing “sanctions proceedings” against...
FTX probes $6.5M in payments to AI safety group amid clawback crusade
26.10.2023
Bankrupt crypto exchange FTX wants to look into millions it had given to the Center for AI Safety, a nonprofit that has argued AI should be a global priority next to pandemics and nuclear war