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
Bankruptcy
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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
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