Crypto lender Genesis has no solution yet for withdrawal halts
Genesis said it will take additional weeks to carve out a recovery path for its lending business. Go to Source Powered by WPeMatico
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3AC subpoenas issued as dispute grows over claims of Terraform dump
The bankruptcy judge has given approvals to subpoenas aimed at Three Arrows Capital’s leadership, while a new Terra Luna conspiracy has been floated. Go to Source Powered by WPeMatico
Michael Saylor on the FTX fiasco: ‘Unethical and illegal from the very beginning’
Saylor calls SBF the “poster child of the crypto world” while breaking down his antics, which ultimately brought the downfall of his empire. Go to Source Powered by WPeMatico
Court sets new deadline for Celsius restructuring plan
Celsius halted withdrawals on the platform on Jun. 13 and filed for bankruptcy a month later on Jul. 14. Go to Source Powered by WPeMatico
Novogratz’s Galaxy Digital to acquire Celsius’ GK8 in bankruptcy garage sale
The self-custody platform was acquired by Celsius in 2021 for $115 million and is now set to change hands, pending approvals. Go to Source Powered by WPeMatico
Report: Genesis Owes Gemini Customers $900 Million, Exchange Is Attempting to Recoup Assets
According to a recent report from the Financial Times (FT), Genesis Global Capital allegedly owes $900 million to Gemini customers. The exchange operated by Cameron and Tyler Winklevoss is attempting to recover the funds from Genesis, according to FT’s sources. Report Claims Genesis Owes the Winklevoss-Operated Exchange Gemini $900 Million FT reports that the centralized … Read more
3AC bankruptcy process faces challenges amid unknown whereabouts of founders
The liquidators claim Zhu Su and Kyle Davies are located in Indonesia and the Emirates, where foreign court orders are difficult to enforce. Go to Source Powered by WPeMatico
Legal team for 3AC liquidators blast founders for shifting blame to FTX, media blitz amid bankruptcy
In a bankruptcy court hearing, lawyers for 3AC creditors asserted the firm’s founders “repeatedly fail to engage” with liquidators, but weren’t shy about talking to the media. Go to Source Powered by WPeMatico
Despite the Former FTX CEO’s Media Tour Many Unanswered Questions Remain
Former FTX CEO Sam Bankman-Fried (SBF) has been talking a lot more since his exchange collapsed a few weeks ago, as he’s spoken at the New York Times Dealbook Summit, sat down with Good Morning America host George Stephanopoulos, and recently conducted an interview with New York Magazine. While doing all of these interviews, SBF … Read more
Former FTX Boss Speaks at Dealbook Event, Says He ‘Didn’t Knowingly Co-Mingle Funds’
On Nov. 30, 2022, the former FTX CEO Sam Bankman-Fried (SBF) discussed FTX’s collapse at the New York Times’ Dealbook Summit with Andrew Ross Sorkin in his first live-appearance interview since the crypto exchange’s downfall. SBF told the Dealbook Summit host that he was “deeply sorry about what happened” and further stressed that he “didn’t … Read more
