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A Three Arrows Capital Founder Talks About His New Crypto Bankruptcy Exchange
24.3.2023
Less than a year after Three Arrows Capital imploded along with $2.5 billion of its clients' money, the hedge fund's founders Su Zhu and Kyle Davies are back on the scene with what appears, to their credit, to be an impressive bankruptcy exchange, but is it too soon?
FTX Bankruptcy Update: FTX Debtors to Sell Mysten Labs Stake for $95 Million
24.3.2023
The infamous crypto exchange FTX will reportedly sell its stake in Web3-focused startup Mysten Labs in an effort to pay back its customers.
The new management at FTX is continuing its mission to collect money to return to the victims of the old management's practices. ...
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Mysten Labs to Buy Back Equity, Token Warrants From FTX Bankruptcy Estate for $96M
23.3.2023
FTX Ventures invested $101 million in Mysten Labs just months before Sam Bankman-Fried’s empire collapsed. Now, Mysten is buying back the stake (and Sui token warrants) for $96 million through bankruptcy court
FTX debtors agree to $95M sale of stake in Mysten Labs
23.3.2023
The proposed purchase price of the Mysten Labs shares was roughly 95% of the amount FTX Ventures invested as part of a $300-million funding round in September 2022
FTX Bankruptcy Estate to Claw Back $460M From Modulo Capital
23.3.2023
Alameda Research seeded little-known Bahamas-based hedge fund Modulo Capital with $475m in 2022. The recovery includes $404m of cash
Bankruptcy Judge: Celsius Account Holders Can Retrieve 72.5% of Crypto Holdings, Permitted They Opt-In to Settlement Plan
22.3.2023
Custody account holders with the now-bankrupt crypto lender Celsius will be able to get back 72.5% of their holdings, as long as they agree to a settlement plan.
The settlement plan has now been approved by Judge Martin Glenn in the US Bankruptcy Court for the Southern District of New York,...
SVB Financial’s First Bankruptcy Hearing ‘Wasn’t Really So Routine,’ Says Legal Expert
22.3.2023
The holding company needs access to the FDIC-locked funds in order to pay back its creditors and support its two external operations, says Kleinberg, Kaplan partner, Dov Kleiner
Celsius custody account holders can receive 72.5% of their crypto, says bankruptcy judge
21.3.2023
Should they opt in to the deal, Celsius customers cannot “pursue any litigation, including seeking relief from the automatic stay, turnover, or other claims or causes of action.”
Yellen defends government intervention to avoid another SVB
21.3.2023
The Treasury Secretary of the U.S. Janet Yellen said the federal government will intervene if it is necessary to protect other small lenders
FTX Demands Protection of Assets from Liquidators of Bahamas Unit – What's Going On?
21.3.2023
Defunct crypto exchange FTX has asked a US bankruptcy judge to protect its property from the liquidators in charge of winding down its Bahamas unit.
In a lawsuit filed against the liquidators overseeing the wind-down of its Bahamian affiliate FTX Digital Markets, FTX claimed that they are wrongly...
Core Scientific to transfer $20M of equipment to settle bankruptcy dispute
21.3.2023
Millions of dollars worth of electrical equipment will be transferred to the crypto miners' exclusive energy negotiator to settle a payments dispute
Core Scientific Bankruptcy Judge Approves Transfer of Over $20M of Equipment to Its Exclusive Energy Negotiator
20.3.2023
Core Scientific had stopped paying Priority Power Management in May 2022
FTX debtors file lawsuit against exchange's Bahamian arm on ownership of property
20.3.2023
The lawsuit claimed FTX Digital Markets was an "economic nullity" within the FTX Group "created as a front to facilitate a conspiracy to defraud the Debtors’ customers"
Rattled crypto industry could emerge stronger after USDC depeg
20.3.2023
Did the depegging reveal stablecoins’ limitations, or was it a learning moment?
FTX’s Bahamas Arm a ‘Nullity’ That Should Be Stripped of Assets: Court Filings
20.3.2023
The Caribbean arm is a mere shell to further Sam Bankman-Fried’s fraud, the company alleged
Signature Bank Non-Crypto Related Deposits to Be Assumed by New York Community Bancorp Unit: FDIC
20.3.2023
The 40 former branches of Signature Bank will operate under New York Community Bancorp's Flagstar Bank, N.A., as of Monday
FTX Debtors Reveal $6.8 Billion Hole in Balance Sheet Amidst Financial Discrepancies and Payments to Insiders
18.3.2023
According to a presentation recently submitted by the FTX debtors on March 16, Sam Bankman-Fried’s companies had a $6.8 billion hole in their intercompany balance sheet when they filed for Chapter 11 bankruptcy protection. FTX and its conglomerate of firms have debts of around $11.6 billion...
Bitcoin market cap grows 60% in 2023 as top Wall Street banks lose $100B
18.3.2023
Bitcoin has decoupled from stocks and rising ten years after the Cyprus banking crisis coincided with a BTC price boom
More 186 US banks well-positioned for collapse, SVB analysis reveals
18.3.2023
Rising interest rates, which brought down the U.S. banking system’s market value of assets by $2 trillion, combined with a large share of uninsured deposits at some U.S. banks, threatens their stability
FTX Firms Had $6.8B Hole in Balance Sheet at Time of Bankruptcy
17.3.2023
The group of companies had debts of about $11.6 billion against $4.8 billion in assets, according to a presentation filed by its advisers