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Nalezeno "Bankruptcy": 875

Safety Check: If Crypto Custodian Fails, Clients May Not Get a Full Payout

7.6.2020
Crypto exchanges — not segregating blockchain addresses — could lead to ownership disputes in the event of insolvency, research says

Report: Bankruptcy Law Can Be Unclear When Crypto Custodians Go Belly Up

1.6.2020
The past few years have seen a glut of cryptocurrency exchanges becoming insolvent. But what legal rights do their customers have with regards to the return of their held assets?

Gox Rising Offers $800 per Bitcoin Claim to Buy out Mt Gox Creditors

22.5.2020
Gox Rising has offered to buy out creditor claims from the collapsed cryptocurrency exchange Mt. Gox. The Brock Pierce-led outfit will pay $800 per bitcoin claim, either in BTC or cash, to creditors who are unwilling to wait for the finalization of the ongoing civil litigation. “Our payment...

Switzerland’s Famed “Crypto Valley” Seeks $103 Million Government Bailout

28.4.2020
Switzerland’s “crypto valley” is asking the government for 100 million Swiss francs ($102.7 million) in funding, local media reported. The once flourishing Swiss cryptocurrency industry is struggling to survive following the withdrawal of private equity investors. About 80% of...

FCoin Working to Resume Operations, Promises to Return Lost Funds

27.2.2020
FCoin announces its relaunch, promising to repay all its users

FCoin Blames Poor Auditing for Shutdown, but Others Suspect Exit Scam

22.2.2020
Is FCoin another exit scam in the cryptocurrency exchange scene or is its insolvency simply due to ineptitude on the part of the company?

Major HSBC Layoffs: 35,000 Job Cuts and Massive Restructuring Announced

22.2.2020
Banking giant HSBC has unveiled a major restructuring plan that includes 35,000 job cuts. The move came as the bank’s net profit plunged 53% last year. HSBC is also slashing $100 billion in assets and closing many branches. “This represents one of the deepest restructuring...

Cannabis Buzz Harshed by Regulations, Cash Shortage While Cryptocurrency Is Ready to Light Up

18.2.2020
Recent reports show that major marijuana companies are running out of money, and businesses in Canada are especially in danger of becoming illiquid. Major producers in the weed-friendly nation have just over 6 months of cash on hand, according to the information, and comparable companies in...

London-Based Cryptocurrency Exchange LBX Faces Compulsory Liquidation

9.2.2020
London-based cryptocurrency exchange LBX is the latest digital asset trading venue to face critical difficulties and is now being liquidated. Despite rising crypto prices, which typically lead to an influx of new traders, some regulated exchanges have struggled to survive amidst rising legal fees...

Fortress Renews Offer to Buy Mt Gox Claims for $778 per Coin

21.12.2019
According to reports, the New York-based private equity firm Fortress is offering Mt Gox creditor claims at $778 per coin. The offer is 13.5% lower than what Fortress offered in July and Mt Gox claimants have until December 31 to accept the offer. Also read: Reports Criticize Bitcoin SV Miners...

Canada-Based Crypto Mining Firm Great North Data Files for Bankruptcy

5.12.2019
Crypto mining company Great North Data has reportedly submitted bankruptcy documents, listing millions in liabilities

Canadian Government-Assisted Bitcoin Miner Files for Bankruptcy Owing Millions

5.12.2019
Great North Data, a firm that ran bitcoin mining and AI processing data centers in Canada, has filed for bankruptcy. According to bankruptcy filings late in November, the firm has just 4.6 million Canadian dollars (US$3.5 million) in assets, but owes creditors CA$13.2 million (US$10 million),...