Search
NY Attorney General Secures $2 Billion Settlement With Bankrupt Crypto Lender Genesis
21.5.2024
New York Attorney General Letitia James has secured a $2 billion settlement with bankrupt cryptocurrency firms Genesis Global Capital, Genesis Asia Pacific, and Genesis Global Holdco. The settlement, which requires bankruptcy court approval, will establish a victims’ fund to compensate over 29,000...
Bankrupt Crypto Lender Blockfi Enlists Coinbase to Distribute Crypto Payouts
10.5.2024
The now-defunct crypto lender Blockfi is officially shutting down the firm’s web portal this month according to an update from the firm. Blockfi said that it has partnered with Coinbase to help facilitate the execution of withdrawals to eligible Blockfi customers. Blockfi Collaborates With Coinbase...
Former Cred execs face wire fraud and money laundering charges
4.5.2024
After attending their initial court appearance on May 2, the former CEO and CFO of Cred must enter their plea on May 8
DCG Boosts Legal Arsenal with First Chief Hire During New York AG Dispute
26.4.2024
Digital Currency Group (DCG), parent firm of bankrupt crypto lender Genesis, has brought on its first-ever chief legal officer as it faces a lawsuit from New York’s Attorney General.
The post DCG Boosts Legal Arsenal with First Chief Hire During New York AG Dispute appeared first on Cryptonews
Mt. Gox Trustee Reveals Updated Bitcoin and Fiat Repayment Schedule for Creditors
22.4.2024
The last round of Mt. Gox's much awaited creditor compensation process is now approaching. By October 2024, the bankrupt exchange is expected to payout 142,000 Bitcoin (BTC), 143,000 Bitcoin Cash (BCH), and 69 billion Japanese yen ($510 million), according to a post published on Reddit on April...
Bankrupt Voyager, FTX Strike Deal to Resolve Claims Against Each Other
11.4.2024
FTX would entirely release the $445 million to Voyager, which would help reimburse creditors.
The post Bankrupt Voyager, FTX Strike Deal to Resolve Claims Against Each Other appeared first on Cryptonews
Genesis Converts GBTC Shares into Bitcoin: Acquires 32,000 BTC in Major Move
6.4.2024
Bankrupt crypto lending firm Genesis has converted approximately 36 million shares of Grayscale Bitcoin Trust (GBTC) into Bitcoin as part of preparations to settle its debts with creditors.
The post Genesis Converts GBTC Shares into Bitcoin: Acquires 32,000 BTC in Major Move appeared first...
FTX Strikes Deal to Offload Two-Thirds of Anthropic Stake for $884M
26.3.2024
Bankrupt crypto exchange FTX agreed to sell the majority of its shares in AI startup Anthropic for $884m, according to court filings from Friday.
The post FTX Strikes Deal to Offload Two-Thirds of Anthropic Stake for $884M appeared first on Cryptonews
Sophisticated Email Phishing Targets Bankrupt Crypto Firms’ BlockFi, FTX Creditors
25.3.2024
FTX and BlockFi claimants received legit-looking fraudulent emails luring them with a promise of instant withdrawals of their remaining balances.
The post Sophisticated Email Phishing Targets Bankrupt Crypto Firms’ BlockFi, FTX Creditors appeared first on Cryptonews
Crypto Lender Celsius Pursues $2B Pre-Bankruptcy Exodus
21.3.2024
Bankrupt crypto lender Celsius has begun demanding customers who made major withdrawals in the three months preceding its bankruptcy to return their funds or face legal action.
The post Crypto Lender Celsius Pursues $2B Pre-Bankruptcy Exodus appeared first on Cryptonews
3AC Co-Founder Kyle Davies Says He Won’t Apologize for Crypto Hedge Fund Going 'Bankrupt'
20.3.2024
Kyle Davies, the co-founder of the now-defunct Three Arrows Capital, has stated that he is not sorry for the company going bankrupt
Genesis Agrees to Pay $21M Fine to Settle SEC Crypto Lending Charges
19.3.2024
Bankrupt cryptocurrency lender Genesis Global Capital has agreed to pay a $21 million fine as part of a final court judgement to settle charges with the U.S. Securities and Exchange Commission (SEC). In an official ruling released on March 19, the SEC highlighted the reason for the penalty...
Terraform Labs Secures Dentons Representation Despite Objections, U.S. Court Decides
13.3.2024
US Judge Brendan Shannon has granted bankrupt crypto company Terraform Labs permission to hire Dentons for its legal representation, according to a report by Reuters. Shannon approved the hiring at a bankruptcy court hearing in Wilmington, Delaware after he deemed Terraform’s legal spending...
Bankrupt Cryptopia Exchange to Return Crypto to Some Creditors
8.3.2024
The New Zealand exchange went offline in 2019 following a cyber attack that saw millions of dollars worth of tokens stolen
Pantera Capital in Quest for Funds to Acquire Solana from Bankrupt FTX Estate
8.3.2024
Crypto asset manager Pantera Capital is seeking funding from major investors to purchase Solana (SOL) tokens at a discounted rate from the bankrupt FTX estate.
The post Pantera Capital in Quest for Funds to Acquire Solana from Bankrupt FTX Estate appeared first on Cryptonews
FTX Cleared to Sell Its Stake in AI Startup Anthropic: Report
23.2.2024
Bankrupt cryptocurrency exchange FTX has been permitted to sell its shares in the artificial intelligence firm Anthropic, according to an issue ordered by U.S. Federal Judge John Dorsey on Thursday, reports Reuters.
The post FTX Cleared to Sell Its Stake in AI Startup Anthropic: Report appeared...
Court Frees Genesis to Sell GBTC Shares Worth $1.3B to Compensate Clients
15.2.2024
Genesis Global obtained bankruptcy court approval on Wednesday to sell its Grayscale Bitcoin Trust (GBTC) shares. The bankrupt crypto lender can now sell its 35m GBTC shares worth over $1.3b as part of efforts to reimburse customers. In a Feb. 14 hearing conducted via Zoom, Judge Sean Lane signed...
SafeMoon CEO Gets Bail, But His Legal Team Wants to Opt Out
13.2.2024
CEO of bankrupt crypto project SafeMoon Braden John Karony is released on bail, but his legal team no longer wants to represent him. In Nov. 2023, Karony and SafeMoon CTO Thomas Smith were arrested on charges of securities fraud, money laundering, and conspiracy to commit wire fraud. However,...
Grayscale and DCG Object to Genesis’ $1.6B Trust Shares Liquidation Plan
12.2.2024
On February 12, Digital Currency Group (DCG) and Grayscale raised objections to bankrupt lender Genesis’ plan to sell off its assets. This includes shares in Grayscale’s Bitcoin Trust (GBTC), Grayscale Ethereum Trust (ETHE), and Grayscale Ethereum Classic Trust (ETCG), amounting...
Bankrupt Crypto Lender Genesis Moves to Settle with NY Attorney General
9.2.2024
Bankrupt lender Genesis on Thursday settled a lawsuit with New York Attorney General Letitia James over its now-defunct Earn program. The Earn program, operated jointly with Gemini Trust, offered customers up to 8% interest on crypto loans. But it was suspended amid the crypto market downturn...