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Analyst: FTX Legal Battle Set to Extend Over Years in $8 Billion Creditor Fight
2.1.2024
Source: Getty Images Now-defunct cryptocurrency exchange FTX is embroiled in a legal battle that could extend over several years as creditors seek to recover over $8 billion. The case, filed in November, involves multiple parties fighting over the remaining assets, making it more complex...
Breaking: Global Settlement Reached in FTX Digital Markets Liquidation
19.12.2023
FTX struck a global settlement between its US and Bahamas bankruptcy proceedings in an attempt to jointly maximize creditor payouts. Image by Александр Поташев, Adobe Stock. The ongoing saga following the dramatic collapse of Sam Bankman-Fried‘s bankrupt cryptocurrency exchange FTX took...
3AC’s Su Zhu Examined in Singapore Court as Prosecutors Seek to Recover Creditor’s Assets
13.12.2023
Source: Adobe/Christophe Fouquin Three Arrows Capital’s (3AC) co-founder Su Zhu was probed in a Singapore court for the first time about the company’s collapse as prosecutors intensified efforts to recover funds belonging to creditors. According to a recent Bloomberg report, Zhu will be subject...
Celsius Network’s Bitcoin Mining Pivot Faces Hurdles, Judge Suggests New Vote
1.12.2023
Source: Adobe Celsius’ Bitcoin (BTC) mining plans face obstacles as a United States judge hints at a possible new vote to clear deviations. According to a Reuters report on Nov 30, Celsius may require another creditor vote to change its business operations from a mining and staking enterprise...
CoinFLEX Crypto Exchange Creditors Accuse Other Exchange OPNX of Wrongful Use of Assets
24.11.2023
Source: Adobe / pathdoc Creditors of the crypto derivatives exchange CoinFLEX are alleging that the newly established creditor claims marketplace OPNX, founded by bankrupt crypto hedge fund Three Arrows Capital (3AC) co-founders Kyle Davies and Su Zhu, wrongfully used CoinFLEX assets without their...
FTX Creditor Claims Priced Above $0.50 in Over-the-Counter Transactions
23.10.2023
A number of over-the-counter (OTC) transactions involving FTX creditor claims are valuing these claims at over 50 cents on the dollar.
According to a report by The Block, the price is a notable increase from earlier, and was revealed by Thomas Braziel, a specialist in FTX debt claims at...
FTX creditor claims heat up as bankruptcy proceedings drive forward
23.10.2023
The market is warming to FTX claims, with one claim going for between 52 and 53 cents on the dollar at auction on Friday
Gemini and Two Other Creditor Groups Object to Genesis' Bankruptcy Resolution Proposal
31.8.2023
Crypto exchange Gemini has objected to Genesis' bankruptcy resolution proposal, claiming that the plan lacks necessary specifics and fails to offer adequate assurances to its major debtors.
Gemini has joined two other creditor groups in objecting to the proposed agreement.
As reported earlier...
Gemini and Two Other Creditor Groups Object to Genesis' Bankruptcy Resolution Proposal
31.8.2023
Crypto exchange Gemini has objected to Genesis' bankruptcy resolution proposal, claiming that the plan lacks necessary specifics and fails to offer adequate assurances to its major debtors.
Gemini has joined two other creditor groups in objecting to the proposed agreement.
As reported earlier...
‘Hedging Bitcoin and Ether’ — FTX Seeks Court Approval for Strategic Partnership With Galaxy Digital
24.8.2023
FTX Trading Ltd., accompanied by its linked debtors, has approached the U.S. Bankruptcy Court in Delaware with a proposal to collaborate with Michael Novogratz’s Galaxy Digital Capital Management LP, also known as Galaxy Asset Management. FTX Trading Proposes Alliance With Novogratz’s...
FTX Rebuts Creditor Panel’s Statement on Lack of Consultation - Here’s the Latest
10.8.2023
The lawyers of the bankrupt crypto exchange FTX which filed for a Chapter 11 in November and collapsed thereafter, have filed a response to the creditor panel’s draft reorganization plans, disapproving the committee’s claims on FTX’s lack of engagement....
Read More: FTX Rebuts Creditor Panel’s...
Voyager Digital’s Bankruptcy Battle Racks Up Millions in Legal Expenses
4.7.2023
A recent court filing from the now-insolvent Voyager Digital Holdings and its creditor committee revealed that legal expenses amounting to $16.5 million have accumulated from July 22, 2022, through May 18, 2023. The records indicate that between March and May 2023, roughly $5.17 million in legal...
Three Arrows Founders to Donate Future Earnings to Creditors in Spirit of 'Karma'
3.7.2023
The founders of the hedge fund that filed for bankruptcy last year have started an exchange for creditor claims, which is seeing $50 million in trading volume, said Davies
Genesis settlement disrupted by new creditor demands, DCG says
25.4.2023
Under the initial settlement plan, Genesis creditors were expected to receive 80% recovery of funds lost due to the bankruptcy
Today in Crypto: Luno Leaving Singapore, Wirex Launching Private ‘Luxury Service’, Court Extends Creditor Protection for Babel Finance
18.4.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Today in Crypto: Luno Leaving Singapore, Wirex Launching Private ‘Luxury Service’, Court Extends Creditor Protection...
Crypto lender Babel gets extended creditor protection in Singapore
18.4.2023
Hong Kong-based Babel Finance will have more than a year to repay debts to its creditors after suspending withdrawals in June 2022
Celcius reportedly prepping litigation against creditor for leaking internal info
15.4.2023
Creditor Tiffany Fong has argued that she hasn’t done anything wrong, asserting that she didn’t break any non-disclosure agreements by reporting on the leaked information
Mt. Gox creditor saga: What lessons has the Bitcoin community learned?
21.3.2023
The downfall of Mt. Gox continues to highlight the importance of greater transparency and accountability within the cryptocurrency industry
Genesis Requests Timetable for Sale, Creditor Claims
17.3.2023
The company wants to sell off its business after filing for bankruptcy on Jan. 19
Largest Creditor of Bankrupt Mt. Gox Exchange to Hold Onto Returned Bitcoin – Huge Selling Pressure Averted?
9.3.2023
In another installment of the bankruptcy proceedings related to defunct cryptocurrency exchange Mt. Gox, the Mt Gox Investment Fund, the largest creditor of the failed platform, is not planning to sell the tokens that it is to receive later this year.
A person familiar with the fund’s activities...