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Silicon Valley Bank (SVB) has become the center of attention after its collapse prompted the U.S. Federal Deposit Insurance Corporation (FDIC) to shut the bank down on Friday. It was the largest U.S. bank failure since 2008, and various alleged catalysts have been pointed to. Some believe venture capitalists caused a bank run, while others … Read more
Negative headlines surrounding Silvergate dragged Bitcoin’s price below $20,000. Meanwhile, bankrupt Alameda is planning to sue Grayscale and its parent company DCG. Go to Source Powered by WPeMatico
The United States Department of Justice filed an appeal against an approval made by N.Y. just days before to allow a billion-dollar sale of assets from Voyager Digital to Binance.US. Go to Source Powered by WPeMatico
The team said it has already lined up clients, including CoinList, Bitso and TrueUSD. Go to Source Powered by WPeMatico
The investment branch of FTX, Alameda Research, reached an agreement to sell its interest in Sequoia Capital for $45 million in cash to the Abu Dhabi sovereign wealth fund. Go to Source Powered by WPeMatico
The Tokyo bankruptcy court trustee for the defunct Japanese bitcoin exchange Mt Gox, Nobuaki Kobayashi, has published a letter stating that creditors have until March 10, 2023 (Japan Time) to register their repayment claims. Kobayashi explains that the team is dealing with “a large number of inquiries” and may not be able to respond to … Read more
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