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NYDFS advises crypto firms not to commingle user and corporate funds in the event of insolvency
23.1.2023
“A VCE's customer agreement should make clear the parties’ intentions to enter into a custodial relationship, rather than a debtor-creditor relationship," said the NYDFS
Bitcoin price surge: Breakthrough or bull trap? Pundits weigh in
23.1.2023
Bitcoin nearly broke its record for the longest streak of daily green price candles this month, but many believe its recent surge could be short-lived
Genesis bankruptcy case scheduled for first hearing
22.1.2023
The first hearing in Genesis Capital's bankruptcy case will be held on January 23, according to court filings
Examining the Holdings of 5 Centralized Crypto Exchanges: A Look at Binance, Okx, Crypto.com, Bitfinex, and Huobi
22.1.2023
After FTX collapsed, the incident prompted many major crypto exchanges to publish proof-of-reserves and lists of known addresses so users can verify the solvency of the trading platforms. While the veracity of these proof-of-reserve lists and asset dashboards is debatable, they do provide some...
Genesis files for bankruptcy, FTX explores a reboot, and Bitzlato news: Hodler’s Digest: Jan. 15-21
21.1.2023
Objections Raised Over Appointment of Sullivan & Cromwell as Debtors’ Counsel for FTX
21.1.2023
On Friday, bankruptcy judge John Dorsey approved the law firm Sullivan & Cromwell (S&C) to be appointed as the debtors’ counsel for FTX, despite an objection from Daniel Friedberg, a former FTX US compliance officer. During a Zoom presentation, Friedberg claimed there was a conflict...
SBF to forfeit $700M worth of assets if found guilty of fraud
21.1.2023
While most of SBF’s assets have been seized, Federal prosecutor Damian Williams outlined that the government is also looking to take control of three of his affiliated Binance accounts
First Hearing in Genesis Bankruptcy Case Set For Monday
21.1.2023
Genesis' first hearing in its bankruptcy case is set for January 23
Genesis’ Crypto Trading Arm Is Moving Money Around, a Sign of Normalcy Amid Sibling’s Bankruptcy
21.1.2023
About $125 million was sent to exchanges in the run-up to Genesis’ lending division filing for Chapter 11, and more was moved the next day
Stellar Foundation Nicked by Genesis Bankruptcy With $13M Claim
20.1.2023
The Stellar Development Foundation was revealed to be among the bankrupt crypto lending desk’s largest creditors
Genesis' bankruptcy filing was decided by independent committee according to DCG
20.1.2023
A special committee of independent directors recommended and decided to file for Chapter 11 bankruptcy protection
What's Next for Genesis Creditors? It Depends on What's in the Bankruptcy Filing
20.1.2023
Eric Snyder, partner at Wilk Auslander LLP, says that a substantial amount of haircuts are likely to be made, but that depends on the petition Genesis’ trio of companies filed
FTX Debtors’ List of Assets Omits Mention of Large Stash of NFTs and ENS Names Owned by Alameda
20.1.2023
This week, FTX debtors issued a press release and a 20-page document noting that bankruptcy administrators had located $5.5 billion in liquid assets. The document details that investigators discovered fiat currencies, crypto assets, and securities as part of FTX’s and Alameda...
Coindesk Up for Sale? Investors Circle Crypto News Publication Amidst Genesis Bankruptcy
20.1.2023
According to various reports, investors are reportedly interested in purchasing Coindesk, a cryptocurrency news publication. On Jan. 18, Wang Feng, founder of China-based news publication Marsbit, announced his intentions to purchase Coindesk along with other members of the crypto industry. This...
FTX bankruptcy lawyer: debtors face 'assault by Twitter' stemming from Sam Bankman-Fried
20.1.2023
The judge ruled there were no potential conflicts of interest sufficient to stop Sullivan & Cromwell from continuing to act as the debtors' counsel
Sullivan & Cromwell Gets Go-Ahead to Represent FTX in Bankruptcy Proceedings, Despite Controversy
20.1.2023
James Bromley, a partner at Sullivan & Cromwell, said former CEO Sam Bankman-Fried has been stirring the pot by “lashing out” on Twitter
Genesis Claims $5.1B in Liabilities in First Day Bankruptcy Filing
20.1.2023
Three of the institutional crypto brokerage's entities filed for Chapter 11 protection late Thursday
Fairfax County, Virginia Pension Funds Exposed to Genesis Bankruptcy
20.1.2023
Two Washington, DC-area pensions invested $35 million in a VanEck fund listed as a Genesis creditor
Top 3 Reasons Why Crypto Prices Are Not Plummeting After Genesis Bankruptcy News
20.1.2023
Genesis is one of the largest companies in the Bitcoin and crypto space, and has this morning announced that they are to be entering into a chapter 11 bankruptcy filing, after many of the loans that they issued to various parties in the crypto space soured.
Many in the cryptocurrency space...
Crypto Lender Genesis Files for Bankruptcy Following SEC Lawsuit
20.1.2023
Crypto lender Genesis, a subsidiary of Digital Currency Group (DCG), has filed for Chapter 11 bankruptcy. The filing followed a lawsuit brought by the U.S. Securities and Exchange Commission (SEC). Genesis claims to have “ample liquidity to support its ongoing business operations...