bankruptcy proceedings – DIGIT INFO

FTX bankruptcy estate files $1.8B lawsuit against Binance, CZ

DIGIT — Mon, 11 Nov 2024 09:04:19 +0000

The estate argued that Sam Bankman-Fried’s $1.75 billion repurchase deal with Binance in July 2021 was a fraudulent transfer because of FTX’s insolvency.

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Celsius distributes $2.5B to 251,000 creditors amid bankruptcy proceedings

DIGIT — Tue, 27 Aug 2024 10:16:26 +0000

Over 121,000 Celsius creditors have yet to claim their funds, according to the Celsius bankruptcy administrator.

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US Trustee challenges FTX reorganization plan, citing legal concerns

DIGIT — Sun, 25 Aug 2024 07:49:33 +0000

The objections raised by the US Trustee and the creditor group are likely to play a significant role in the court’s deliberations.

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Coinbase Severs Ties With Silvergate Bank Amidst JPMorgan Downgrade and Delayed SEC Filing

DIGIT — Thu, 02 Mar 2023 20:30:28 +0000

On March 2, 2023, the cryptocurrency exchange Coinbase announced that, in light of recent developments, the company is “no longer accepting or initiating payments to or from Silvergate Bank.” The news follows the crypto bank’s delay of its annual 10-K filing with the U.S. Securities and Exchange Commission (SEC) and JPMorgan’s downgrade of the company’s […]

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FTX Debtors Seek Dismissal of Turkish Entities in Chapter 11 Bankruptcy Proceedings

DIGIT — Tue, 31 Jan 2023 22:19:55 +0000

FTX debtors have filed a motion with the court requesting to dismiss its Turkish subsidiaries from the Chapter 11 bankruptcy proceedings. The defunct crypto exchange’s lawyers believe dismissing the entities “is in the best interests” of creditors, and FTX debtors do not believe Turkish authorities “or any liquidator” in the country will cooperate with officials […]

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Celsius CEO Alex Mashinsky Resigns Amid Tumultuous Bankruptcy Proceedings

DIGIT — Tue, 27 Sep 2022 22:30:49 +0000

On Tuesday, September 27, 2022, Celsius Network CEO Alex Mashinsky submitted a letter of resignation from the company. Mashinsky added that he still plans to help the embattled crypto lender “achieve a successful reorganization.” Alex Mashinsky Resigns From Embattled Celsius — Founder Apologizes for the ‘Difficult Financial Circumstances’ After Celsius paused withdrawals on June 12, […]

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Downfall of Canada’s Lambo driving ‘Crypto King’ reportedly sees $35M in losses

DIGIT — Wed, 21 Sep 2022 05:30:15 +0000

Founder of fraud recovery law firm says the only other avenue available for investors would be to make reports to the Ontario Securities Commission or the police.

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Crypto Lender Vauld Suspends Withdrawals, Company Is Discussing ‘Restructuring Options’ With Advisors

DIGIT — Mon, 04 Jul 2022 14:30:59 +0000

On July 4, the crypto lending company Vauld announced it suspended withdrawals, trading, and deposits after disclosing the firm is “facing challenges.” While not naming any specific companies, the Singapore-based cryptocurrency lending platform and exchange mentioned “financial difficulties” stemming from “key business partners.” Vauld Suspends Withdrawals Over ‘Financial Difficulties’ During the last 30 days, a […]

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