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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 [...]
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.
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.
Core Scientific said favorable market conditions have increased its liquidity position and its bankruptcy restructuring plan has been revised.
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)
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.”
Millions of dollars worth of electrical equipment will be transferred to the crypto miners' exclusive energy negotiator to settle a payments dispute.
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)
The SEC claims the transactions involved with redistributing the funds to impacted Voyager account holders will trigger U.S. securities laws.
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 [...]
The deadline for bidders to submit offers for the Bitcoin-machine-backed loans is set for Jan. 24.
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.
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.
Bahamas regulator fights back against being ‘publicly challenged’ by FTX against incorrect calculations of digital assets transferred under its control
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)
Crypto lender BlockFi has asked a U.S. Bankruptcy Court for the authority to return the crypto held in BlockFi Wallets to users.
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.
Voyager hints that its customers will eventually transition to the FTX platform after it finishes its chapter 11 bankruptcy proceedings.
Following a motion in August, U.S. Bankruptcy Judge Martin Glenn has signed off on a request to appoint an examiner in the Celsius case.
The now defunct and bankrupt Voyager Digital has been approved by the court to distribute $270 million in funds to creditors and affected customers. The news follows the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board ordering Voyager to remove any statements that allege Voyager is FDIC insured. The U.S. Bankruptcy Court in More
The post Bankrupt Crypto Firm Voyager Digital Approved to Release $270 Million in Cash Deposits appeared first on BTC Ethereum Crypto Currency Blog.
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