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On Dec. 21, 2022, one of the largest bitcoin mining operations in the industry, Core Scientific, filed for Chapter 11 bankruptcy protection in the Southern District of Texas. According to the filing, Core Scientific has roughly 1,000 to 5,000 creditors and its estimated assets are worth between $1-10 billion. Core Scientific Voluntarily Files for Chapter … Read more
Core Scientific reportedly filed for Chapter 11 bankruptcy protection in Texas owing to falling revenue and BTC prices. Go to Source Powered by WPeMatico
The bitcoin mining operation Greenidge Generation Holdings Inc. has executed a restructuring deal with NYDIG, according to an announcement published on Tuesday. According to the non-binding term sheet agreement, NYDIG will obtain 2.8 exahash per second (EH/s) of Greenidge’s mining capacity, and Greenidge further entered into a hosting deal with NYDIG for the same 2.8 … Read more
FTX co-founder Sam Bankman-Fried (SBF) had a difficult day in court on Monday according to a number of accounts that said SBF’s local attorney seemed to be in conflict with his U.S. legal team. Furthermore, courtroom reports noted that SBF dozed off for an extended period of time and had to be shaken awake by … Read more
The exchange warned those who received payments from FTX or its former executives that it’s looking to recover funds even if they were donated to charity. Go to Source Powered by WPeMatico
By consenting to extradition, Bankman-Fried would be able to appear in a United States court. Go to Source Powered by WPeMatico
According to lawyers representing FTX’s provisional liquidators, allegations that Bahamian officials were giving residents preferential treatment were “wholly without merit”. Go to Source Powered by WPeMatico
Sam Bankman-Fried faces eight accusations and could get 115 years in jail, but a final sentence could take months or even years. Go to Source Powered by WPeMatico
According to court documents associated with the FTX bankruptcy proceedings, on Nov. 9 — two days before the company filed for Chapter 11 bankruptcy protection — FTX co-CEO Ryan Salame told Bahamian authorities that Sam Bankman-Fried (SBF) sent customer funds to the firm Alameda Research. A letter written by Salame sent to the Bahamian commissioner … Read more
The committee would play a role in representing creditors who lost funds or were otherwise affected by the downfall of FTX, reported to be one million people. Go to Source Powered by WPeMatico
