Genesis Global secures court approval for $3B payout

According to Judge Lane, any available funds for distribution by Genesis are being exhausted by creditor claims, which take priority over DCGs equity stake.

View Details

Small creditors put at risk by latest FTX bankruptcy development

The transfer of the bankruptcy claim from FTX EU to FTXcreditor could have a significant impact on stakeholders.

View Details

FTX, Genesis reach in-principle agreement to settle bankruptcy case

FTX and Genesis lawyers have sent a letter to the bankruptcy judge regarding a settlement agreement.

View Details

Bankrupt FTX and Genesis Reach In-Principle Agreement to Settle Claims

Bankrupt crypto companies FTX and Genesis reached an in-principle agreement to resolve claims brought against each other.  The agreement, which didn’t contain specifics, was sent [...]

View Details

Bankruptcy Tussle Between Crypto Firms FTX and Genesis Nears Resolution 

The long-standing legal feud between FTX Trading and Genesis Global Holdco is taking a turn towards resolution. The two parties have reached an initial agreement, in principle, following bankruptcy protection disputes that have made industry headlines. An official letter to the bankruptcy judge representing their cases has affirmed the intent of the firms to put [...]

The post Bankruptcy Tussle Between Crypto Firms FTX and Genesis Nears Resolution  appeared first on Crypto Breaking News.

View Details

Celsius creditors allege Wintermute facilitated ‘wash trading’: Report

Creditors of bankrupt cryptocurrency lending platform Celsius have alleged that crypto market maker, Wintermute, assisted Celsius executives in manipulating the price of CEL (CEL) through the use of “wash trading.” According to a June 23 Bloomberg report, which cited a recent court filing, Celsius creditors have recently amended their lawsuit in the United States District [...]

The post Celsius creditors allege Wintermute facilitated ‘wash trading’: Report appeared first on Crypto Breaking News.

View Details

Core Scientific moves for September bankruptcy exit, expects $46M boost

Core Scientific said favorable market conditions have increased its liquidity position and its bankruptcy restructuring plan has been revised.

View Details

BlockFi Granted Extension to Submit Bankruptcy Exit Plan

BlockFi, a cryptocurrency lender, has been granted a 48-day extension until May 15 to submit a bankruptcy exit plan. The company is exploring a potential sale of assets or an outside backer to support a restructuring deal. A committee of BlockFi customers argued to take control of the case, citing the lack of a workable business for reorganization and the potential sale of the platform. However, the bankruptcy judge granted a shorter extension than requested by BlockFi. (Read More)

View Details

FTX bankruptcy will be ‘very expensive’ but there’s a reason: Auditor

The legal fees charged in the first months of FTX’s bankruptcy have been examined by an auditor, who has confirmed the case is “on track to be very expensive.”

View Details

Core Scientific to transfer $20M of equipment to settle bankruptcy dispute

Millions of dollars worth of electrical equipment will be transferred to the crypto miners' exclusive energy negotiator to settle a payments dispute.

View Details

DOJ Appeals Against Approval of Voyager-Binance.US Asset Sale

The DOJ has filed an appeal against the approval of Voyager Digital's Chapter 11 bankruptcy plan, which would have allowed the company to sell assets to Binance.US. While U.S. bankruptcy judge Michael Wiles approved the plan, the SEC and other regulators have been critical, citing concerns over securities law. If regulators block the deal, Voyager may have to liquidate. (Read More)

View Details

SEC not allowed to punish Voyager advisers over bankruptcy token, says US judge

The SEC claims the transactions involved with redistributing the funds to impacted Voyager account holders will trigger U.S. securities laws.

View Details

Bankrupt Celsius Network Request to Extend the Deadline for Submitting its Chapter 11 Plan Met with Opposition

Celsius Network, a cryptocurrency lending service provider, recently requested an extension of its deadline for financial restructuring under Chapter 11 bankruptcy. The company faced severe [...]

View Details

BlockFi to sell $160M in Bitcoin miner-backed loans: Report

The deadline for bidders to submit offers for the Bitcoin-machine-backed loans is set for Jan. 24.

View Details

Genesis eyes fast resolution to creditor disputes and bankruptcy exit in May

A lawyer for Genesis is optimistic it can resolve creditor disputes before the week is out while the firm could exit bankruptcy proceedings in four months.

View Details

Crypto lender Genesis files for Chapter 11 bankruptcy

Crypto lender Genesis Global has become the latest firm to throw in the towel following the collapse of FTX, filing for Chapter 11 bankruptcy protection in New York.

View Details

Bahamas regulator denies asking crypto exchange FTX to mint new tokens

Bahamas regulator fights back against being ‘publicly challenged’ by FTX against incorrect calculations of digital assets transferred under its control

View Details

Bitcoin Miner Core Scientific Apparently Declares Chapter 11 Bankruptcy

Due to dropping income and BTC prices, Core Scientific filed for Chapter 11 bankruptcy in Texas. In July 2021, the company was valued at $4.3 billion. Due to a lengthy bear market, Core Scientific sold 9,618 BTC in April to continue functioning. Microsoft has banned cloud customers from mining cryptocurrency to improve service reliability. (Read More)

View Details

BlockFi files motion to return frozen crypto to wallet users

Crypto lender BlockFi has asked a U.S. Bankruptcy Court for the authority to return the crypto held in BlockFi Wallets to users.

View Details

Marathon reports $80M exposure to bankrupt mining firm

Marathon has outlined that at this stage its operations hosted by Compute North will continue to operate as usual, and highlighted an improved BTC mining production in Q3.

View Details