Genesis wants to use the shares’ initial value in claims and is not releasing additional collateral transferred by DCG, the suit claims.
Category: Bankruptcy
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FTX probes $6.5M in payments to AI safety group amid clawback crusade
Bankrupt crypto exchange FTX wants to look into millions it had given to the Center for AI Safety, a nonprofit that has argued AI should be a global priority next to pandemics and nuclear war.
FTX navigates post-bankruptcy options, weighs sale or revival
These options reportedly encompass selling the entire exchange, including its extensive customer base of over 9 million, to the potential of forming a partnership with another entity to revive the platform.
BlockFi emerges from bankruptcy and opens wallet withdrawals
BlockFi announced that it is allowing both U.S. and international users to submit withdrawal requests.
Caroline Ellison desired to step down but feared a bank run on FTX
Former Alameda CEO Caroline Ellison recognized she wasn’t doing a good job months before the company filed for bankruptcy, but Sam Bankman-Fried persuaded her to stay.
Court approves Genesis settlement of $175M to FTX, expunges billions in claims
Genesis previously reportedly said that the $175 million settlement was “fair and equitable,” while FTX creditors wanted to contest it.
Binance, Snapchat and capital among things SBF was ‘freaking out about’
Former FTX CEO Sam Bankman-Fried was once “freaking out about” getting regulators to crack down on Binance and raising capital from a Saudi Crown Prince, according to Alameda former CEO Caroline Ellison.
Sam Bankman-Fried goes on trial: A week in review
The trial of former FTX CEO Sam Bankman-Fried started on October 3. Four witnesses explained to jurors how $8 billion in funds from customers went missing.
Celsius seeks court approval to start repaying customers by year-end
The embattled crypto lender is seeking final court approval for a restructuring plan that will start repaying creditors before the end of 2023.
Celsius valuation advisor approves value of debtors’ assets and liabilities
Stout Risius Ross, LLC, the valuation advisor for Celsius Network confirmed the accuracy of the bankrupt firm’s valuation report.