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FTX Japan Holdings, FTX Japan, and FTX Japan Services were three of FTX’s 134 subsidiaries caught up in the firm’s Chapter 11 bankruptcy filing in the United States. Go to Source Powered by WPeMatico
PWC, one of the ‘Big Four’ auditors and among the largest professional services networks globally, recently published a report on FTX Digital Markets, the bankrupt crypto exchange’s Bahamian subsidiary. The report indicates that the entity’s accounting records have been limited, and it also noted that there is “little distinction between what represents potentially client monies … Read more
The judge’s ruling does not require Celsius debtors to sell the Bitmain coupons, but they would need the consent of the committee of unsecured creditors. Go to Source Powered by WPeMatico
Crypto lender Celsius’ committee of unsecured creditors has chosen the digital asset investment firm Novawulf Digital Management to sponsor the company’s reorganization plan, according to a statement published on Wednesday. The proposed agreement would enable Celsius to exit the Chapter 11 bankruptcy process, and the new owners could begin distributing funds as early as June, … Read more
A proposal by Celsius sees most creditors receive a one-time payment of crypto while those with a larger claim would receive equity in a new company. Go to Source Powered by WPeMatico
The judge presiding over the FTX bankruptcy case has denied the U.S. Trustee’s request to appoint an independent examiner for the ongoing proceedings. The decision comes after judge John Dorsey postponed the ruling last week, citing concerns that the examiner could cost creditors tens of millions of dollars. The U.S. Trustee’s Argument for an Independent … Read more
The U.S. Trustee made arguments including that an examiner was necessary to scrutinize the use of software to conceal FTX’s alleged misuse of customer funds. Go to Source Powered by WPeMatico
The liquidators said they would “commence disposals” of certain FTX Digital physical assets following approval from the Bahamas’ supreme court. Go to Source Powered by WPeMatico
As FTX seeks clawbacks on political donations, Digital Currency Group and its bankrupt subsidiary, Genesis Global Trading, have reached an agreement on restructuring. Go to Source Powered by WPeMatico
Following the recent court filing from liquidators for Three Arrows Capital (3AC) claiming frustration with the 3AC co-founders for allegedly failing to respond to subpoenas sent via Twitter. Su Zhu, one of the co-founders, recently tweeted about his new crypto venture, Open Exchange. The exchange aims to provide users with the ability to trade or … Read more
