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A group of customers are now suing FTX in an attempt to become the first to recover funds from the insolvent cryptocurrency exchange. The lawsuit, filed as part of the bankruptcy case in Delaware, seeks a court ruling recognizing that their holdings with the trading platform belong to them rather than the failed company. Customers … Read more
An affidavit by the FTX founder revealed Alameda funded the purchase of Robinhood shares which were later used as collateral for Alameda to secure a loan from BlockFi. Go to Source Powered by WPeMatico
Bitcoin miner Argo Blockchain announced that it requested the suspension of trading its company shares on Dec. 27, as the company expects to make an announcement on Wednesday, Dec. 28, 2022. The company’s stock has lost 96.34% year-to-date and on Dec. 12, the bitcoin miner “advanced negotiations with a third party to sell certain assets” … Read more
Tesla CEO and Twitter chief Elon Musk has confirmed that the social media company is no longer “in the fast lane to bankruptcy.” Nonetheless, the billionaire emphasized that there is still much work to do on the platform. “But overall it seems to be going in a good direction.” Twitter Won’t Go Bankrupt Anytime Soon, … Read more
The Bitcoin mining community took up massive loans during the 2021 bull market, negatively impacting their bottom lines during a subsequent bear market. Go to Source Powered by WPeMatico
With the BTC price plunging more than 76% peak-to-trough, miners are struggling to keep their operations running. Go to Source Powered by WPeMatico
With the BTC price plunging more than 76% peak-to-trough, miners are struggling to keep their operations running. Go to Source Powered by WPeMatico
After evaluating several law firms, FTX’s unsecured creditors’ committee has chosen a legal adviser. Go to Source Powered by WPeMatico
According to Louise Abbott, FTX users could claim in court that assets “remained their property at all times” and could be treated separately from bankruptcy proceedings. Go to Source Powered by WPeMatico
Miners are in deep trouble due to increased hash rate and energy costs, but pro traders slightly added to their longs despite the recent BTC pullback. Go to Source Powered by WPeMatico
