DOJ seeks to narrow Sam Bankman-Fried’s bail terms, use only flip phones
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
Bankruptcy
Auto Added by WPeMatico
Silvergate closes Exchange Network, releases $9.9M to BlockFi
The bank is discontinuing its crypto payment network, claiming the termination is a risk-based decision. Go to Source Powered by WPeMatico
FTX Debtors Report $8.9B Shortfall in Customer Funds and ‘Highly Commingled’ Assets in Latest Presentation
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 presentation shows ‘massive shortfall’ in firm’s assets
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
Binance US restructuring plan favored by 97% of Voyager customers
An overwhelming majority of Voyager account holders want Binance US to buy out the firm’s assets. Go to Source Powered by WPeMatico
DCG losses top $1B on the back of 3AC collapse in 2022
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
Texas objects to Voyager-Binance.US deal, court filing shows
Texas claims that Binance.US’s terms of service and restructuring plan contain inadequate disclosures, and discriminate against Texas creditors. Go to Source Powered by WPeMatico
5 High-Profile Cryptocurrency Implosions Shatter Trust, Wipe out Billions in Value During 2022’s Crypto Winter
2022 was a year of phenomenal cryptocurrency blowouts, as several projects collapsed and many more are on life support after the entire ecosystem was shattered. The fallout from these digital currency projects has not only removed billions of dollars in value from the crypto economy, but also eroded trust. The following is a look at … Read more
Voyager is selling crypto assets through Coinbase, suggests on-chain data
Since Feb. 14, Voyager has sent crypto assets to Coinbase on an almost daily basis, alleges on-chain analyst Lookonchain. Go to Source Powered by WPeMatico
FTX Japan reports $50M in withdrawals since Feb. 21
According to the crypto exchange, 7,026 FTX Japan account holders had moved funds from the firm to Liquid Global — a requirement in order to withdraw assets. Go to Source Powered by WPeMatico