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Bankrupt Crypto Lending Firm Celsius Shifts Focus to Bitcoin Mining Amid SEC Feedback on Reorganization Plan
21.11.2023
Source: Adobe/Canva Crypto lender Celsius has amended its reorganization plan, opting for a singular focus on bitcoin mining instead of the initially proposed combination of mining and staking. In a court filing on Monday, Celsius signaled its departure from the earlier Plan that combined both...
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...
FTX Foundation Member Denies Involvement In SBF Fraud, Insists on Unpaid Bonus
14.11.2023
Source: AdobeStock / Rafael Henrique Ross Rheingans-Yoo, an employee of FTX Foundation has filed a response to FTX’s claim regarding his unpaid salaries and bonuses totaling $275,000. In a Nov 13 court filing, the foundation staff argued that he was entitled to $650,000 but was only paid $375,000...
Crypto Lender Hodlnaut to Be Liquidated, Court Filing Shows
10.11.2023
Defunct cryptocurrency exchange Hodlnaut will be wound up, according to a note from the company’s former interim judicial managers, Aaron Lee and Angela Ee
Binance Arguments to Dismiss Lawsuit Lack Merit, SEC Argues In New Filing
9.11.2023
Source: Adobe The United States Securities and Exchange Commission (SEC) has opposed Binance’s arguments to dismiss the lawsuit adding that the motion has no real basis under law. In a Nov 8 court filing, the securities regulator claims the defendants applied the law incorrectly in an attempt...
Ben 'Bitboy' Armstrong Calls Himself a Victim in Latest Court Filing
7.11.2023
The infleuncer formerly known as Bitboy has filed a lawsuit against several executives at his former employer alleging threats and coercion, and is asking for his Lamborghini back
FTX Seeks Bankruptcy Court Approval to Sell $744 Million Worth of Trust Assets, Including Grayscale and Bitwise Funds
6.11.2023
Bankrupt cryptocurrency exchange FTX and its debtors have sought approval from the bankruptcy court of Delaware to sell select trust assets, including funds from Grayscale and Bitwise, with an estimated value of $744 million. The proposed sale would be facilitated through an investment...
Coinbase Challenges SEC's Broad Definition of Securities in New Court Filing
25.10.2023
Coinbase's submission of a "final petition" to the court in its ongoing legal battle with the US Securities and Exchange Commission (SEC) argues tokens don't necessarily represent the definition of an investment contract and that the SEC has overstepped its regulatory bounds....
Read More: Coinbase...
DOJ Clamps Down on SBF’s Regulatory Loophole Defense Amid Ongoing Fraud Trial
4.10.2023
The Department of Justice (DOJ) has asked the judge in Sam Bankman-Fried’s (SBF) criminal case to restrict several planned defense arguments about financial regulations. Prosecutors said in a new court filing that SBF should not be allowed to claim he’s innocent because cryptocurrency...
Former FTX Law Firm Denies Role in Collapse; Challenges Allegations as ‘Fatally Deficient’ in Court Motion
26.9.2023
San Francisco-based law firm Fenwick & West LLP is denying allegations from FTX founder Sam Bankman-Fried that the firm provided legal advice enabling the alleged fraud that led to the cryptocurrency exchange’s collapse. In a recent court filing, Fenwick & West asserts the allegations...
Report: Hodlnaut’s Judicial Managers Oppose OPNX Takeover
19.9.2023
According to a recent court filing, interim judicial managers for the troubled crypto lender Hodlnaut oppose a takeover by the crypto firm OPNX, which is linked to the now-defunct crypto hedge fund Three Arrows Capital and its founders. OPNX Takeover Faces Resistance from Hodlnaut’s Judicial...
Former Celsius Boss Alex Mashinsky Seeks Dismissal of FTC Lawsuit
13.9.2023
Alex Mashinsky, the former CEO of Celsius Network, has filed a motion to dismiss the Federal Trade Commission (FTC) lawsuit against him. In the motion, Mashinsky argues the FTC has failed to allege he violated any laws or rules. His lawyers say the FTC is not entitled to monetary relief and cannot...
FTX Estate Controls $1.1B in Solana and $560M in Bitcoin Amid Bankruptcy Revelations
11.9.2023
The FTX estate, currently overseeing the bankruptcy and restructuring of the once-active crypto exchange, reveals holdings of $1.16 billion in solana (SOL) and $560 million in bitcoin (BTC). 16% of Solana’s Market Cap Is Held by FTX In a recent Monday court filing, a stakeholder update...
New Court Filing: FTX Holds $1.1 Billion in SOL and $560 Million in BTC
11.9.2023
Now-defunct crypto exchange FTX holds approximately $7 billion in assets, including $1.16 billion worth of Solana (SOL) tokens and $560 million in Bitcoin (BTC).
In a Monday court filing, the company said it has managed to secure $1.5 billion in cash in addition to the $1.1 billion it held as...
FTX Holds $1.16B in SOL, $200M in Bahamas Real Estate, Court Filing Says
11.9.2023
The company says it paid billions to executives including founder Sam Bankman-Fried before filing for bankruptcy last year
FTX court filing reveals former Alameda CEO's $2.5M yacht purchase
3.9.2023
The payment to the American Yacht Group was disclosed under the category of payments benefiting any insider within one year prior to the crypto exchange collapse
Prosecutors Challenge FTX Founder’s Legal Advice Defense Ahead of Fraud Trial
30.8.2023
Sam Bankman-Fried’s legal team claimed last week that the FTX founder received assurances from lawyers his actions were lawful. However, federal prosecutors are now contesting the validity of Bankman-Fried’s defense strategy ahead of trial. Bankman-Fried’s Legal Defense...
FTX Founder’s Expert Witnesses Face Exclusion in Fraud Trial
29.8.2023
The U.S. Department of Justice filed a motion on Monday seeking to bar all seven of Sam Bankman-Fried’s proposed expert witnesses from testifying in the former FTX CEO’s upcoming fraud trial. Federal prosecutors cited issues with the witnesses’ reliability and accused them...
SEC's Secret Binance Court Filing Has Observers Bracing for Bad News
29.8.2023
A new secret court filing related to Binance, the crypto exchange that already faces U.S. accusations of abetting money laundering and sanctions circumvention, has some wondering whether more bad news is about to hit the industry giant
BlockFi argues FTX, Three Arrows Capital isn't entitled to repayments
23.8.2023
BlockFi argues its creditors, not FTX’s, are the “ultimate victims” of FTX’s alleged fraud