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
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Swiss court gives green light for FTX to sell its European arm
The approval of a petition in Switzerland allowing FTX Europe AG’s sale would be in accordance with U.S. bankruptcy court, where FTX’s global business filed for Chapter 11. Go to Source Powered by WPeMatico
Circle and BlockFi questioned on banking with SVB by Warren and AOC
Circle and BlockFi executives were questioned after the lawmakers accused SVB of “coddling” and giving “white glove” treatment to its largest depositors. Go to Source Powered by WPeMatico
Core Scientific debtors petition bankruptcy court to approve new president
The debtors appointed Adam Sullivan, a managing director at investment banking firm XMS Capital Partners, to assume the role of president amid the firm’s bankruptcy proceedings. Go to Source Powered by WPeMatico
Celsius Network to make April 12 filing, including info on voting for restructuring plan
“Our Disclosure Statement will provide a summary of the Plan, account-holder recovery percentages, FAQs, and additional information on certain risk factors,” said Celsius. Go to Source Powered by WPeMatico
Tether ‘unequivocally reiterates’ no exposure to Signature Bank
The stablecoin provider denied the allegations that began to surface in regard to its exposure to the now-collapsed Signature Bank. Go to Source Powered by WPeMatico
‘Dr. Doom’ Nouriel Roubini Warns of Looming Banking Crisis and Trilemma for Central Banks
Economist Nouriel Roubini has shared his opinion about bank problems in the United States in a recently published opinion editorial. In the article, Roubini insists that “most U.S. banks are technically near insolvency, and hundreds are already fully insolvent.” Roubini: ‘Liquidity Support Cannot Prevent This Systemic Doom Loop’ The renowned economist Nouriel Roubini, also known … Read more
Former FTX CEO Seeks $10M Insurance Fund for Legal Defense, Request Opposed by FTX Debtors and Unsecured Creditors
Court filings reveal that the FTX co-founder is seeking access to a $10 million insurance plan to cover his attorney fees. FTX debtors and unsecured creditors have opposed Sam Bankman-Fried’s request, arguing that every dollar spent on his defense is “one less dollar” available to cover the losses of the debtors. FTX Debtors and Unsecured … Read more
Paxful to return lost Celsius funds to Earn users
Peer-to-peer marketplace Paxful will refund its Earn program users impacted by Celsius Network’s bankruptcy. Go to Source Powered by WPeMatico
FTX debtors agree to $95M sale of stake in Mysten Labs
The proposed purchase price of the Mysten Labs shares was roughly 95% of the amount FTX Ventures invested as part of a $300-million funding round in September 2022. Go to Source Powered by WPeMatico
