FTX seeks to reverse payments made to Shaq, Naomi Osaka and Miami Heat
FTX laid out the millions it paid to the likes of Shaquille O’Neal, Naomi Osaka and other high-profile people it’s looking to get back. Go to Source
Bankruptcy
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FTX sues LayerZero Labs, seeks to recover over $21M moved prior to bankruptcy
FTX is seeking the cancellation of agreements made days before it collapsed, as well as the return of millions transferred to LayerZero Labs and its affiliates. Go to Source
Genesis sues parent company DCG, other affiliate for $600M in overdue loans
DCG borrowed $500,000 from its subsidiary last year and DCG Investments borrowed over 18,000 BTC and both have allegedly defaulted. Go to Source
US-based Genesis Global Trading will eliminate its crypto spot trading service
The company, an affiliate of Barry Silbert’s Digital Currency Group, has been providing crypto spot trading since 2013. Its closure is “for business reasons.” Go to Source
Robinhood bought back Sam Bankman-Fried’s stake from US govt for $606M
The purchase of the 55 million Robinhood shares had been expected following approval from the company’s board and a U.S. district court. Go to Source
Genesis lenders call DCG agreement ‘wholly insufficient’
The agreement in-principle reached by DCG and creditors also said that the Ad Hoc Group and Gemini did not support the deal. Go to Source
DCG agrees deal with Genesis that would see recoveries of up to 90%
The estimated USD equivalent recoveries could account for 70% to 90% for Genesis creditors, should the amended plan be carried out. Go to Source
BlockFi opens crypto withdrawals for eligible US users following court order
The lending platform halted client withdrawals amid filing for bankruptcy in November 2022, but later petitioned the court for authorization to return user funds. Go to Source
Prime Trust bankruptcy spotted by crypto community months ahead
Months prior to Prime Trust filing for Chapter 11 bankruptcy, sleuths in the crypto community were on the case and still continue to follow the money. Go to Source
Crypto custodian Prime Trust files for Chapter 11 bankruptcy
The crypto custodian’s bankruptcy comes as it’s been unable to honor customer withdrawals for months. Go to Source
