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FTX pencils deal to access $600M in Robinhood shares
10.9.2024
FTX debtors will pay Emergent $14 million to cover administrative expenses in exchange for the firm withdrawing any claims to $600 million in Robinhood shares and cash
FTX pencils deal to access $600M in Robinhood shares
10.9.2024
FTX debtors will pay Emergent $14 million to cover administrative expenses in exchange for the firm withdrawing any claims to $600 million in Robinhood shares and cash
Coinbase Legal Chief Criticizes SEC’s Vague Position on FTX Plan — Says Investors Deserve ‘Way Better’
3.9.2024
Coinbase’s chief legal officer has criticized the U.S. Securities and Exchange Commission (SEC) for its ambiguous position regarding FTX’s proposal to repay creditors using stablecoins or other cryptocurrencies. Although the SEC did not explicitly deem these transactions illegal,...
SEC Warns FTX Over Legality of Crypto Asset Distribution in Chapter 11 Plan
2.9.2024
The U.S. Securities and Exchange Commission (SEC) has raised concerns over FTX’s plan to pay back claims using its “crypto asset securities.” The SEC’s Senior Trial Counsel, Therese Scheuer, has reserved the right to challenge these transactions under federal securities laws. FTX’s Crypto...
SEC Might Challenge FTX Bankruptcy Estate From Paying Back Customers With Stablecoins
2.9.2024
The U.S. Securities and Exchange Commission (SEC) may have thrown a spanner in the wheels of the confirmation of the FTX bankruptcy plan, according to a court filing Friday
Government Overspending Puts US in the ‘Fast Lane to Bankruptcy,’ According to Elon Musk
2.9.2024
In recent times, Elon Musk, the owner of X and the CEO and product architect at Tesla, Inc., has been voicing his concerns about inflation. This discussion became especially prominent after he interviewed former U.S. President Donald Trump. Just two days ago, Musk took to X, declaring that...
Court Approves BTC Loan for Bankrupt Bitcoin Mining Firm
2.9.2024
Rhodium Encore LLC, a bankrupt bitcoin mining company, has received court approval for a unique debtor-in-possession financing plan that allows borrowing in either U.S. dollars or bitcoin. Galaxy Digital Holdings Ltd., a blockchain firm led by Mike Novogratz, has offered to provide Rhodium with...
Bankrupt Bitcoin miner Rhodium gets court approval for loan in BTC or USD
31.8.2024
The company was authorized to choose between receiving $30 million or 500 Bitcoin loan from Galaxy Digital
Bankrupt Bitcoin miner Rhodium gets court approval for loan in BTC or USD
31.8.2024
The company was authorized to choose between receiving a $30 million or a 500 Bitcoin loan from Galaxy Digital
Crypto Biz: Telegram and OpenSea on authorities’ radar
30.8.2024
This week’s Crypto Biz explores Pavel Durov’s arrest and consequences for Telegram, Nvidia’s earnings results, OpenSea’s Wells notice, Rhodium’s bankruptcy, BlackRock’s new crypto ETF and SxT Labs’ fundraising
Crypto Biz: Telegram and OpenSea on authorities’ radar
30.8.2024
This week’s Crypto Biz explores Pavel Durov’s arrest and consequences for Telegram, Nvidia’s earnings results, OpenSea’s Wells notice, Rhodium’s bankruptcy, BlackRock’s new crypto ETF and SxT Labs’ fundraising
Crypto bankruptcies net law firms $751M in fees
30.8.2024
Four law firms collectively earned $484 million from their work on the crypto bankruptcies, representing 64% of all fees requested and received in these cases
Celsius Bankruptcy Admin Allocates $2.53B to 251,000 Creditors
27.8.2024
The Celsius Network bankruptcy administrator has reported the distribution of over $2.53 billion to approximately 251,000 creditors. This…
Celsius distributes $2.5B to 251,000 creditors amid bankruptcy proceedings
27.8.2024
Over 121,000 Celsius creditors have yet to claim their funds, according to the Celsius bankruptcy administrator.
Celsius' Bankruptcy Plan Administrator Pays Out Over $2.5B
27.8.2024
Celsius' bankruptcy administrator has distributed more than $2.53 billion to some 251,000 creditors, it said in its first status report
Bitcoin miner Rhodium files for bankruptcy in Texas court
26.8.2024
Rhodium’s debts range between $50 million and $100 million, while its total assets are estimated between $100 million and $500 million
Bitcoin miner Rhodium files for bankruptcy in Texas court
26.8.2024
Rhodium’s debts range between $50 million and $100 million, while its total assets are estimated between $100 million and $500 million
US Trustee challenges FTX reorganization plan, citing legal concerns
25.8.2024
The objections raised by the US Trustee and the creditor group are likely to play a significant role in the court’s deliberations
Wazirx Defends Restructuring Decision — Founder Assures ‘Not Bankruptcy or Liquidation’
24.8.2024
Indian crypto exchange Wazirx has defended its restructuring strategy in response to the July 18 cyberattack that led to the theft of over $230 million. The company emphasized that this approach is the quickest and most legally sound way to address these challenges. “This is not bankruptcy...
FTX says creditors supported reorganization plan with a 95% vote
22.8.2024
FTX chief restructuring officer and CEO John Ray III said the plan promises 100% return plus interest for non-governmental creditors