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CoinFLEX restructuring approved in Seychelles as rebranding reportedly continues
7.3.2023
The Seychelles courts have approved a plan that would give 65% of the company to creditors and 15% to employees as CoinFLEX is said to transition into the Open Exchange
A Closer Look at FTX’s Most Recent Bankruptcy Documents
7.3.2023
FTX Bankruptcy: Counsel and Advisers Rack Up $38M in January Bills – Here's the Latest
7.3.2023
The ongoing FTX bankruptcy saga has resulted in a staggering cost of legal fees, as revealed by recent court filings. In January alone, the total bill for legal work and expenses reached $38 million....
Read More: FTX Bankruptcy: Counsel and Advisers Rack Up $38M in January Bills – Here's the Latest
Alameda Research Sues Grayscale Investments Seeking to Unlock Billions in Value for Shareholders
7.3.2023
FTX Debtors and affiliate Alameda Research Ltd. have filed a lawsuit against Grayscale Investments, seeking injunctive relief to unlock $9 billion in value for shareholders of the Grayscale Bitcoin and Ethereum Trusts. The debtors allege that “Grayscale has extracted over $1.3 billion...
FTX Bankruptcy Special Counsel and Advisers Bill $38M for January
7.3.2023
FTX’s bankruptcy proceeding has teams of lawyers, investment bankers, consultants, and financial advisers working on the case
SEC not allowed to punish Voyager advisers over bankruptcy token, says US judge
7.3.2023
The SEC claims the transactions involved with redistributing the funds to impacted Voyager account holders will trigger U.S. securities laws
Voyager Bankruptcy Judge Expresses Skepticism Over U.S. SEC Objection to Binance US Deal
7.3.2023
Judge Michael Wiles of the Southern District of New York questioned a U.S. Securities and Exchange Commission attorney over the agency's concerns that Binance US may be operating an unregistered securities exchange
US trustee appeals FTX bankruptcy judge's ruling to deny appointment of independent examiner
6.3.2023
The legal team for U.S. Trustee Andrew Vara petitioned to have the U.S. District Court consider an appeal for a ruling on an independent examiner in FTX's bankruptcy case
FTX Bankruptcy Examiner Denial Appealed by U.S. Government
6.3.2023
An independent investigation could cost as much as $100 million, the Delaware court has previously been warned
DOJ seeks to narrow Sam Bankman-Fried's bail terms, use only flip phones
4.3.2023
The proposal restricts Sam Bankman-Fried communication to a flip phone or other non-smartphone device with no internet access
Silvergate closes Exchange Network, releases $9.9M to BlockFi
4.3.2023
The bank is discontinuing its crypto payment network, claiming the termination is a risk-based decision
Crypto Bank Silvergate Forced to Return $9.85M Deposit to BlockFi in Ongoing Bankruptcy Dispute
4.3.2023
Crypto-friendly bank Silvergate has been forced to return $9.85 million to BlockFi as part of the crypto lender’s ongoing bankruptcy proceedings.
According to documents made available on the website of BlockFi’s restructuring advisor, the bankruptcy court overseeing BlockFi's restructuring process...
SEC Official Says Binance US Is Operating 'Unregistered Securities Exchange'
3.3.2023
A U.S. Securities and Exchange official said agency staff believe Binance US is operating an unregistered securities exchange in the U.S
FTX Debtors Report $8.9B Shortfall in Customer Funds and ‘Highly Commingled’ Assets in Latest Presentation
3.3.2023
On March 2, 2023, FTX debtors released their second stakeholder presentation, which contains a preliminary analysis of the now-defunct cryptocurrency exchange’s shortfalls. The latest presentation reveals a significant shortfall, as approximately $2.2 billion of the company’s total...
Bankrupt Crypto Lender Celsius Re-Opens Withdrawals for Certain Custody Accounts
3.3.2023
Celsius paused withdrawals last June, citing extreme market conditions
SEC objection to Voyager-Binance.US deal questioned by US judge
3.3.2023
A U.S. judge scolded the SEC over its non-specificity on its objection to Voyager’s restructuring deal and asked for specifics on its concerns
FTX presentation shows 'massive shortfall' in firm's assets
3.3.2023
FTX and FTX US together have billions in deficits in their exchange wallets and fiat accounts, uncovered in a "huge effort" according to the exchange's CEO
Coinbase Severs Ties With Silvergate Bank Amidst JPMorgan Downgrade and Delayed SEC Filing
2.3.2023
On March 2, 2023, the cryptocurrency exchange Coinbase announced that, in light of recent developments, the company is “no longer accepting or initiating payments to or from Silvergate Bank.” The news follows the crypto bank’s delay of its annual 10-K filing with the U.S....
FTX Has ‘Massive Shortfall’ in Assets, Say Bankruptcy Lawyers
2.3.2023
So far, $2.2 billion in assets have been identified in the wallets of accounts associated with FTX.com, of which only $694 million are in the most liquid assets
Bitcoin Miners Are Starting to Emerge From Brutal Crypto Winter
2.3.2023
After several bankruptcies and fire sales, the rally in bitcoin’s price is providing some relief for the miners, although they may not be completely out of the woods yet