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Nalezeno "Crypto Lender": 345

Genesis Reaches Settlement With Parent Company DCG in $620M Lawsuit

29.11.2023
Source: AdobeStock / Timon The beleaguered crypto lender Genesis and its parent company, Digital Currency Group (DCG), have reached a settlement that could end the protracted lawsuit aimed at recovering $620 million in repayments from DCG. DCG Commits to Settling $324.5M in Loans by April According...

Genesis Files Lawsuit Against Former Business Partner Gemini Trust, Seeking to Recover $689 Million

22.11.2023
Source: AdobeStock / Timon Crypto lender Genesis Global Capital has taken legal action against cryptocurrency exchange Gemini Trust in an attempt to reclaim over $689 million. The lawsuit was filed in the US Bankruptcy Court for the Southern District of New York on Tuesday, alleging that Gemini...

Bankrupt crypto lender Genesis sues Gemini to recover $689M worth of 'Preferential Transfers'

22.11.2023
Genesis claims Gemini made preferential transfers of about $689,302,00 from Genesis and wants the court to "correct this unfairness."

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...

Celsius’ Path to Recovery Hindered by SEC Challenges: Report

20.11.2023
Source: Pixabay Bankrupt cryptocurrency lending company Celsius’ recovery plan has hit a road block with the US Securities and Exchange Commission. Coindesk reported on Monday that the SEC wants more information about the bankrupt crypto lender’s assets, citing a source familiar with the matter....

Singapore High Court Mandates Hodlnaut Liquidation, Sets Stage for 17,000 Customer Reimbursements

14.11.2023
In a dramatic culmination to a turbulent period for Hodlnaut, the Singapore High Court has ordered the crypto lender’s liquidation, tasked with the daunting goal of reimbursing its 17,000 customers. The judicial decree follows Hodlnaut’s entanglement with the fallout of Terra’s...

Bankrupt Crypto Lender Genesis Seeks Court Help to Reduce Settlement Payout to 3AC

10.11.2023
Source: Pexels Digital Currency Group’s (DCG) subsidiary Genesis Global is seeking approval from the US court to revise its settlement agreement with the bankrupt Three Arrows Capital Ltd (3AC). According to a document filed on November 9 with the US bankruptcy court of the Southern District...

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

Court Approves Celsius Network’s Bankruptcy Exit, Transition to Bitcoin Miner

10.11.2023
The U.S. Bankruptcy Court has approved Celsius Network LLC’s transition from a failed crypto lender to a Bitcoin mining business, setting the stage for the company to begin repaying its customers. Judge Martin Glenn confirmed the company’s plan to compensate its creditors using a mix of digital...

Celsius Bankruptcy Saga Nears Closure as Court Approves Restructuring Plan

9.11.2023
In a pivotal moment for Celsius Network LLC and its affiliates, the Southern District of New York Bankruptcy Court has issued a confirmation order for the modified joint Chapter 11 Plan of the crypto lender. The approval sets the stage for a significant overhaul following the tumultuous financial...

Judge Urges for SEC Decision on Planned Celsius Restart as Crypto Miner

1.11.2023
America’s securities regulator has been urged to decide if it will approve a plan to transform Celsius Network into a bitcoin mining firm. The proposal seeks to repay customers of the bankrupt cryptocurrency lender with both crypto assets and stock in a new publicly traded mining entity. New York...

Bankrupt Crypto Lender Genesis Faces Deadline: New York Court Orders Compliance With Terra Subpoena Within 5 Days

17.10.2023
After failing to respond to a prior order, embattled crypto lender Genesis has been subpoenaed by a New York court to produce documents related to the collapse of the algorithmic stablecoin TerraUSD (UST) last year. In a court order dated October 13, Judge Jed Rakoff noted how Genesis hadn’t...

Blockfi CEO Blames FTX and Alameda Collapse for Firm’s Bankruptcy

14.10.2023
Blockfi CEO Zac Prince testified Friday that the downfall of FTX contributed to his company’s bankruptcy. Prince appeared as a government witness in the fraud trial of former FTX boss Sam Bankman-Fried (SBF). Blockfi’s Prince: Loans Wouldn’t Be Approved Knowing Alameda Used...

CFTC Sues Former CEO of Crypto Lender Voyager for Fraud

14.10.2023
The U.S. Commodity Futures Trading Commission (CFTC) charged the former CEO of bankrupt cryptocurrency lender Voyager Digital with fraud. The regulator accused Stephen Ehrlich and the company of luring investors with promises of high-yield returns while breaking derivatives rules. Ehrlich was also...

SBF Trial: Crypto Lender BlockFi Believed Alameda Was Solvent Given Balance Sheet It Was Shown, CEO Testifies

13.10.2023
BlockFi lost “a little over a billion dollars” due to its involvement with FTX and Alameda Research, Zac Prince said

Blockfi Bankruptcy Plan Confirmed, Paving Way for Client Distributions

1.10.2023
Crypto lender Blockfi is moving closer to returning funds to clients after a bankruptcy judge confirmed its Chapter 11 plan on Tuesday. The plan outlines a process for the company to distribute the remaining assets to clients and attempt to recover additional funds. Blockfi Advances on Client Asset...

Gemini Reportedly Withdrew $280 Million From Genesis Before Crypto Lender Filed for Bankruptcy

28.9.2023
Tyler and Cameron Winklevoss owned Gemini exchange reportedly withdrew approximately $280 million from Genesis Global just months before the crypto lender initiated a freeze on customer deposits and ultimately filed for bankruptcy. Genesis and Gemini had jointly offered an "Earn" program that...