Genesis settlement disrupted by new creditor demands, DCG says
Under the initial settlement plan, Genesis creditors were expected to receive 80% recovery of funds lost due to the bankruptcy. Go to Source Powered by WPeMatico
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Celsius auction has Gemini and Coinbase as new bidders: Report
Two new consortiums will dispute the assets of bankrupt crypto lender Celsius Network in an auction scheduled for April 25 in New York. Go to Source Powered by WPeMatico
Former US Secret Service Asst. Director: Keep personal info of FTX users private
Jeremy Sheridan claimed FTX users could become the targets of physical harm as well as attacks through online scams if their information was disclosed. Go to Source Powered by WPeMatico
3AC founders’ OPNX exchange claims to be funded by AppWorks, SIG, MIAX Group
DeFi firm Nascent was also claimed as a backer, but it has clarified that it only bought FLEX tokens from the company’s previous incarnation. Go to Source Powered by WPeMatico
Crypto lender BlockFi is granted extra time to file Chapter 11 exit plan
BlockFi was granted a 48-day extension by a New Jersey bankruptcy judge to submit an exit plan, exploring a potential sale of company assets and restructuring. Go to Source Powered by WPeMatico
Voyager’s $1B deal with Binance.US moves forward after deal with Feds
The bankrupt crypto lender struck a deal with the U.S. government and its $1 billion sale of cryptocurrencies to Binance.US has moved forward. Go to Source Powered by WPeMatico
Zipmex requests 2-month extension from Singapore court for restructuring plan
A ruling from Singapore’s High Court originally allowed Zipmex a moratorium until December 2022 to handle debt relief amid reported liquidity issues. Go to Source Powered by WPeMatico
The Fall of Medici Bank: Lessons on Fractional Reserve Banking From 15th Century Italy
Amid the banking chaos of the 21st century, some are looking back more than 600 years ago, to the Medici Bank — one of the most powerful banks of its time. It established its business and became one of the most respected banks in Europe during its prime, and the prominent Italian family of bankers … Read more
FTX Finds $7.3 Billion in Liquid Assets; Lawyers Consider Rebooting Shuttered Crypto Exchange
FTX debtors revealed during a hearing on April 12th that the restructuring team has collected $7.3 billion in liquid assets. The exchange is currently considering a relaunch, according to a lawyer representing the defunct cryptocurrency exchange. Following the announcement, the exchange’s token, FTT, increased by over 70%, rising from $1.30 to $2.35 per unit. Lawyers … Read more
FTX has recovered $7.3B in assets, will consider rebooting exchange in Q2 2023
Sam Bankman-Fried’s failed cryptocurrency exchange filed for bankruptcy in November 2022 and has since been mired in court proceedings. Go to Source Powered by WPeMatico
