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
Bankruptcy
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Celsius customers to vote on settlement plan with Fahrenheit after judge gives okay
The settlement was reached in July and, if the customers agree, it will go before the court for approval in October. Go to Source
3AC co-founder avoids contempt charges following evidence of Singaporean citizenship
Lawyers for Kyle Davies filed evidence that his U.S. citizenship had been renounced in 2021, which, according to a bankruptcy judge, left him outside the court’s jurisdiction. Go to Source
Core Scientific’s bankruptcy plan includes equity stake for Bitmain and Anchorage
If the plan is approved, Core Scientific could buy 27,000 Bitmain miners for roughly $23 million in cash and $54 million in company equity. Go to Source
OPNX exchange bids for crypto lender Hodlnaut in Singapore
If approved, the deal would see a capital injection of nearly $30 million worth of FLEX tokens into Hodlnaut to partially cover creditors’ payout and outstanding claims. Go to Source
New York AG probes transactions at Genesis, ties with Barry Silbert: Report
Digital Currency Group (DCG) is reportedly under investigation in New York for financial transactions involving its subsidiary, Genesis Global Capital. Go to Source
Core Scientific appoints Adam Sullivan as CEO amid restructuring process
The company claims to have seen a boost in liquidity in recent months and is expected to exit bankruptcy proceedings by September. Go to Source Powered by WPeMatico
FTX files motion to exclude its Dubai unit from bankruptcy proceedings
FTX filed for bankruptcy in November last year, entering into Chapter 11 proceedings with 102 units around the world. Go to Source Powered by WPeMatico
BlockFi’s Chapter 11 plan progresses with conditional court approval
Once the bankruptcy plan receives approval, the lender said it intends to concentrate its efforts on recovering funds from several other defunct firms. Go to Source Powered by WPeMatico
3AC co-founder rejects jurisdiction of bankruptcy court, claiming he renounced US citizenship
As Singapore does not allow dual nationality, 3AC co-founder Kyle Davies said he chose to renounce his U.S. citizenship after getting married and receiving permanent residency. Go to Source Powered by WPeMatico
