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The ruling allows the crypto lender a path out of its bankruptcy, but it still has to undertake some due diligence with Binance US before the sale is final. Go to Source Powered by WPeMatico
The Seychelles courts have approved a plan that would give 65% of the company to creditors and 15% to employees as CoinFLEX is said to transition into the Open Exchange. Go to Source Powered by WPeMatico
FTX Debtors and affiliate Alameda Research Ltd. have filed a lawsuit against Grayscale Investments, seeking injunctive relief to unlock $9 billion in value for shareholders of the Grayscale Bitcoin and Ethereum Trusts. The debtors allege that “Grayscale has extracted over $1.3 billion in exorbitant management fees in violation of the trust agreements.” FTX Debtors Accuse … Read more
The legal team for U.S. Trustee Andrew Vara petitioned to have the U.S. District Court consider an appeal for a ruling on an independent examiner in FTX’s bankruptcy case. Go to Source Powered by WPeMatico
The proposal restricts Sam Bankman-Fried communication to a flip phone or other non-smartphone device with no internet access. Go to Source Powered by WPeMatico
The bank is discontinuing its crypto payment network, claiming the termination is a risk-based decision. Go to Source Powered by WPeMatico
On March 2, 2023, FTX debtors released their second stakeholder presentation, which contains a preliminary analysis of the now-defunct cryptocurrency exchange’s shortfalls. The latest presentation reveals a significant shortfall, as approximately $2.2 billion of the company’s total assets were found in FTX-related addresses, but only $694 million is considered “Category A Assets,” or liquid cryptocurrencies … Read more
FTX and FTX US together have billions in deficits in their exchange wallets and fiat accounts, uncovered in a “huge effort” according to the exchange’s CEO. Go to Source Powered by WPeMatico
An overwhelming majority of Voyager account holders want Binance US to buy out the firm’s assets. Go to Source Powered by WPeMatico
The crypto conglomerate reported that falling crypto prices and the fallout from Three Arrows Capital’s loan default to Genesis affected its results. Go to Source Powered by WPeMatico
