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Genesis Seeks Green Light from Bankruptcy Court for $1.4 Billion GBTC Share Sale
4.2.2024
Crypto lender Genesis Global Capital, currently undergoing bankruptcy proceedings, has requested permission to sell trust assets worth approximately $1.6 billion. In a motion filed with the U.S. Bankruptcy Court in the Southern District of New York, the firm sought approval to sell assets held...
Crypto Lender Nexo Submits $3 Billion Damages Claim Against Bulgaria
26.1.2024
The cryptocurrency lending platform Nexo has submitted a $3 billion arbitration claim against the Republic of Bulgaria, following a raid on its office in 2023 and a subsequent probe by the Bulgarian Prosecutor General’s Office. Nexo alleges that these actions harmed its business prospects....
Crypto Lender Abra to Return Assets to Texas Investors
25.1.2024
Following regulatory scrutiny, crypto lender Abra has agreed to a settlement. The settlement, which focuses on Abra’s alleged unregistered securities offerings, will see the company returning assets to Texan investors. Abra Agrees to Refund Texas Investors in Settlement Over Crypto Offerings...
Crypto Lender Abra Settles Lawsuit, Will Reopen Customer Withdrawals
24.1.2024
Crypto lender Abra has reached a tentative settlement with the Texas State Securities Board. According to a document published January 22nd, Abra has agreed to reimburse the assets invested by the state’s residents. The document highlights that Abra has begun winding down its U.S. retail...
Nexo Seeks $3B in Damages from Bulgaria Over Aborted Investigation Affecting US Stock Listing
24.1.2024
Crypto lender Nexo has started a legal battle seeking $3 billion in damages from Bulgaria following an aborted criminal investigation that the company claims derailed its plans for a US stock market listing and a soccer sponsorship deal. Nexo AG, a Swiss subsidiary of Nexo Capital based in...
Crypto Lender Nexo Seeking $3B in Damages From Bulgaria
24.1.2024
Nexo has accused the country of making "wrongful and politically motivated actions...involving unjustified and oppressive criminal investigations."
Texas Securities Board Orders Crypto Lender Abra to Return Assets to Investors
23.1.2024
Source: Pixabay Crypto lender Abra has reached an agreement with the Texas State Securities Board to return customers’ frozen funds. The ruling comes after the authority filed an emergency cease and desist order and accused the company of securities fraud. Per the settlement agreement published...
Major Crypto Moves: Celsius Shifts $125M ETH as FTX and Alameda Adjust Holdings
16.1.2024
Embattled crypto lender Celsius has transferred over $125 million worth of Ether to various cryptocurrency exchanges as part of its plan to initiate repayments to its creditors. According to data sourced from Arkham Intelligence, $95.5 million of Ethereum was shifted to Coinbase, while $29.7...
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...
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...
Bankruptcy Judge Greenlights Celsius Shift to Bitcoin Mining
30.12.2023
The now-defunct crypto lender Celsius has received authorization to pivot to bitcoin mining, following approval from U.S. District Judge Martin Glenn of Manhattan for the firm’s revised strategy. This move comes after the company’s initial proposal encountered obstacles from the U.S....
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 Lender Celsius Reopens Withdrawals for Certain Custody Clients
29.11.2023
The now-inoperative crypto lending firm Celsius has announced the opening of withdrawals for select “Eligible Custody Users,” as declared in a recent statement on Wednesday. These custody account holders now have the opportunity to withdraw approximately 72% of their cryptocurrency...
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...