Celsius chooses NovaWulf’s bid to exit from bankruptcy
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
Bankruptcy
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FTX Bankruptcy Judge Denies US Trustee’s Request for Independent Examiner
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
FTX bankruptcy judge denies US Trustee’s motion to appoint independent examiner
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
FTX liquidators report exchange held $2.4M ‘fleet of vehicles’ in the Bahamas
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
Crypto Biz: FTX clawbacks, Genesis silver lining?
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
Three Arrows Capital Co-Founder Announces New Crypto Venture Open Exchange Amid Bankruptcy Controversy
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
Publisher to wipe all traces of Celsius founder’s ‘Mashinsky Method’ book
A slated financial literacy book by Alex Mashinsky has already been canceled but the book’s publisher is still trying to wipe all traces of it from the internet. Go to Source Powered by WPeMatico
Celsius‘ motion to extend timeline for restructuring plan faces objection from creditors
“It is time to allow the Debtors’ customers to propose their own plan for the assets that they were defrauded into investing with Celsius,” said a Withhold account holders’ filing. Go to Source Powered by WPeMatico
Bitfarms settles outstanding loan with BlockFi for $7.75M
The Toronto-based Bitcoin mining company has reduced its debt by nearly 85% since June 2022. Go to Source Powered by WPeMatico
FTX debtors can issue subpoenas to company ‘insiders’, says court
The list of FTX insiders included former CEO Sam Bankman-Fried, former Alameda Research CEO Caroline Ellison, FTX co-founder Gary Wang, and members of SBF’s immediate family. Go to Source Powered by WPeMatico