Alameda Research had a $65B secret line of credit with FTX: Report
Sam Bankman-Fried ordered Gary Wang, FTX’s co-founder, to open the alleged credit line financed by the exchange’s customers. Go to Source Powered by WPeMatico
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Osprey Vies for Control of Grayscale’s Bitcoin Trust; Tron’s Justin Sun Offers to Invest Up to $1B on DCG Assets
Following charges by the U.S. Securities and Exchange Commission against the crypto exchange Gemini and the digital currency lender Genesis, Tron founder Justin Sun told the press that he may be able to purchase assets from Genesis, up to $1 billion, “depending on their evaluation of the situation.” Additionally, the crypto investment manager Osprey has … Read more
Celsius’ mining arm announces $1.3M sale of equipment
According to Celsius, Touzi Capital made the best offer for the mining rigs following discussions with “several brokers and market participants”. Go to Source Powered by WPeMatico
Bankruptcy Court Terminates FTX Naming-Rights Agreement for Miami Heat Arena
A federal bankruptcy court in the U.S. has ended the FTX naming-rights agreement for Miami Heat’s basketball stadium. The sports venue was branded FTX Arena as part of a multi-year, multi-million dollar sponsorship deal between the now-bankrupt crypto exchange and Miami-Dade County in 2021. FTX Signage and Advertising to Be Removed From Downtown Miami Sports … Read more
Uphold exchange denies owing millions to failed crypto lender Cred
Cred sued Uphold in June 2022 over a jointly promoted crypto yield product called CredEarn. Go to Source Powered by WPeMatico
Miami-Dade gains right to remove FTX name from Heat arena
County officials negotiated with the crypto exchange in 2021 to name Miami Heat’s arena FTX Arena until 2040, for $135 million. Go to Source Powered by WPeMatico
Three Arrows Capital creditors express frustration with bankruptcy process during call
3AC co-founder Kyle Davies announceed regular meetings with creditors, noting all involved parties are welcome to attend. Go to Source Powered by WPeMatico
It’ll be OK: DCG crisis likely won’t ‘include a lot of selling’ — Novogratz
Digital Currency Group’s ongoing financial distress isn’t likely to cause much further strain on crypto prices, said Novogratz. Go to Source Powered by WPeMatico
US lawmakers call on court to approve ‘independent examiner’ in FTX bankruptcy case
Four U.S. Senators said Sullivan & Cromwell was “simply not in a position to uncover the information needed to ensure confidence in any investigation or findings” regarding FTX. Go to Source Powered by WPeMatico
FTX subsidiaries on auction block including LedgerX attract 117 interested buyers
Four businesses up for sale as part of bankruptcy proceedings include Embed, LedgerX, FTX Japan and FTX Europe. Go to Source Powered by WPeMatico