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FTX Estate Proposes Recovery Plan With 90% Asset Return Expected
19.10.2023
The now-defunct FTX crypto exchange announced a proposed settlement plan this week that aims to resolve disputes over customer assets lost when the company filed for bankruptcy in November 2022. FTX Debtors Chart Path to Redress: 90% Asset Recovery Proposed in Bankruptcy Plan The FTX debtors’...
FTX Estate Stakes 5.5 Million SOL; Millions Locked Until 2028
14.10.2023
Blockchain records have shed light on a development involving the trustees of the now-defunct exchange FTX, who are overseeing its bankruptcy proceedings. They have committed 5.5 million solana (SOL) for staking. Meanwhile, the current market value of FTX’s total solana assets is a hefty...
Elliptic: FTX Hacker Laundered Stolen Crypto Funds Through Russian Crime Networks
12.10.2023
Close to a year has passed, and the hacker responsible for the staggering $477 million heist from the now-defunct crypto exchange FTX still remains elusive. Yet, Elliptic, a leading blockchain analytics firm, has meticulously mapped the intricate journey of the stolen funds, shedding light on...
Report: Hodlnaut’s Judicial Managers Oppose OPNX Takeover
19.9.2023
According to a recent court filing, interim judicial managers for the troubled crypto lender Hodlnaut oppose a takeover by the crypto firm OPNX, which is linked to the now-defunct crypto hedge fund Three Arrows Capital and its founders. OPNX Takeover Faces Resistance from Hodlnaut’s Judicial...
Bankman-Fried’s House Arrest Writings Reveal Inner Turmoil, Blame Game in FTX Collapse
16.9.2023
According to more than 250 documents sent to the media, the disgraced co-founder of FTX, Sam Bankman-Fried, said he feels like “one of the most hated people in the world.” The former CEO of the now-defunct crypto exchange further noted in his statements that “there will probably never be anything...
Singapore’s Monetary Authority Issues 9-Year Ban on Three Arrows Capital Founders
14.9.2023
The Monetary Authority of Singapore (MAS) has issued nine-year prohibition orders against Three Arrows Capital (3AC) founders Zhu Su and Kyle Davies, banning them from regulated financial activities in the country. The orders come after a MAS investigation that reportedly uncovered multiple...
Judge Denies CEL Valuation Boost; Evades CEL’s Security Classification in Celsius Saga
26.8.2023
In the unfolding saga of the Celsius bankruptcy case, a proposal was presented to elevate the defunct crypto enterprise’s native token, CEL, to a valuation of $0.80 each. Yet, the overseeing U.S. bankruptcy judge, Martin Glenn, dismissed this proposal. Consequently, Celsius’s...
Social Media Bots Played Crucial Role in Inflating Value of FTX-Listed Crypto Assets, Report Finds
4.8.2023
New analysis from the Network Contagion Research Institute (NCRI) reveals that bots on the social media platform X (formerly Twitter) likely played a major role in amplifying the value of cryptocurrencies tied to the now-defunct FTX exchange and its sister firm Alameda Research. Social Media Bots...
Turkish Court Sentences Founder of Defunct Crypto Exchange Thodex to More Than 7 Months in Prison
20.7.2023
A Turkish court has sentenced Faruk Fatih Özer, the founder of the collapsed cryptocurrency exchange Thodex, to an effective seven months and 15 days in prison. During the trial, Özer denied being an executive of the crypto exchange when the platform allegedly failed to furnish the Tax Inspection...
Celsius Founder Alex Mashinsky’s Bail Set at $40 Million, Travel Restricted Amid Fraud Charges
14.7.2023
Just before the now-defunct crypto lender Celsius was charged by three U.S. federal regulators — the Commodity Futures Trading Commission (CFTC), Securities and Exchange Commission (SEC), and Federal Trade Commission (FTC) — its former CEO, Alexander Mashinsky, was arrested on fraud charges...
FTC Slaps Crypto Lender Celsius With $4.7B Fine for Deceiving Consumers and Mismanaging Deposits
13.7.2023
On Thursday, following the U.S. Securities and Exchange Commission (SEC) suing the insolvent crypto lender Celsius, the Federal Trade Commission (FTC) divulged a settlement with the firm and imposed a $4.7 billion fine for “duping consumers.” Nevertheless, the penalty will be deferred to enable...
SEC Sues Bankrupt Crypto Lender Celsius, Alleges Misrepresentation of Customer Count and Risky Practices
13.7.2023
The U.S. Securities and Exchange Commission has filed a lawsuit against the now-defunct cryptocurrency lender, Celsius. The suit, filed Thursday, also names former CEO Alexander “Alex” Mashinsky as a defendant. Both he and the company stand accused of falsely promising investors a safe...
Report: FTX Management Seeks Investors to Revive Defunct Crypto Exchange; Exchange Token FTT Surges
29.6.2023
FTX management is actively seeking potential participants to revive the formerly defunct crypto exchange, as reported by sources knowledgeable about the situation. CEO John J. Ray III and other FTX executives have reportedly engaged in preliminary discussions with prospective investors, who could...
Subpoena Evasion: 3AC Asks Court to Fine Kyle Davies $10,000 Daily for Non-Compliance
18.6.2023
In February, it was reported that Kyle Davies, the co-founder of Three Arrows Capital (3AC), faced allegations of evading subpoenas related to the collapse of the defunct Singapore cryptocurrency hedge fund. The current custodians of the 3AC estate are now pursuing a daily fine of $10,000 against...
Bittrex US Allows Fiat and Crypto Withdrawals Amid Bankruptcy Proceedings
17.6.2023
Bittrex US, the now-defunct cryptocurrency exchange in the United States, has recently introduced a plan that permits American customers to withdraw crypto and fiat from the platform, provided they satisfy the required regulatory criteria. This withdrawal arrangement was approved on Tuesday by...
Crypto Exchange Thodex Founder Denies Fraud Charges in Turkey
14.6.2023
The founder of failed cryptocurrency exchange Thodex has denied all fraud-related allegations in a Turkish court. The crypto entrepreneur was handed over to Turkey by Albanian authorities earlier this year to face charges for his leading role in running the now defunct platform. Alleged Crypto...
Defunct Crypto Hedge Fund 3AC Insists on Taking Part in Genesis Mediation
5.6.2023
The defunct crypto hedge fund has claimed over $1 billion against Genesis, which itself filed for bankruptcy in January
US Bitcoin Corp to Operate Restructured Mining Division of Celsius, Boosting Hashrate by 12.2 EH/s
29.5.2023
Bitcoin mining company U.S. Bitcoin Corp (USBTC) has announced its intention to employ the mining assets of Celsius, the defunct crypto lender. The development follows the acquisition of application-specific integrated circuit (ASIC) machines from the bankrupt company by the Fahrenheit coalition...
Luxury Auction House Sotheby’s Sells Portion of 3AC’s NFT Collection for $2.5 Million
21.5.2023
Sotheby’s, the luxury auction house, successfully generated $2.5 million through the sale of non-fungible tokens (NFTs) from the now-defunct crypto hedge fund Three Arrows Capital (3AC). Among the sold pieces was Fidenza #725, a digital collectible crafted by the artist Tyler Hobbs. This...
Blockfi Announces Self-Liquidation Plan After Failed Attempts to Sell Company
16.5.2023
The now-defunct crypto lender Blockfi has recently filed a court document outlining its plans to liquidate the company. The firm has come to the realization that selling the company would not be beneficial to its creditors. As a result, Blockfi has decided to take matters into its own hands...