Terraform Labs may close products, services in bankruptcy wind-down
Get it before Oct. 30, Terraform Labs tells the third parties it is discussion its wind-down with. Go to Source
Bankruptcy
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SBF’s neurodivergence saw him ‘misinterpreted’ at trial, doctors argue
The court and jury could have misunderstood Sam Bankman-Fried’s behavior during his criminal trial due to his autism and attention deficit disorders, doctors wrote in a recent amicus brief. Go to Source
Blockfi Receives $250M USDC Deposit, Sparking Hopes for Creditor Repayments
Onchain data reveals that Blockfi, a now-bankrupt crypto lending firm, received a hefty $250 million deposit (1, 2) to one of its flagged addresses, as reported by Arkham Intelligence. The news was shared on X at 12:43 p.m. EDT on Monday. “Blockfi received $250M in USDC from Coinbase Prime, bringing their onchain holdings up to … Read more
Court approves Terraform Labs winding down in bankruptcy hearing
After collapsing in 2022, facing an SEC lawsuit in 2023, and filing for bankruptcy in 2024, many of Terraform’s legal cases in the US are beginning to wind down. Go to Source
Terraform Labs Gets Court Approval to Wind Down Operations in Bankruptcy
Terraform Labs has received court approval to wind down operations in bankruptcy following a settlement with the U.S. Securities and Exchange Commission (SEC). The company had been at the center of a scandal that left cryptocurrency investors facing significant losses after the Terra ecosystem collapsed. Court Approves Terraform Labs Wind-Down Terraform Labs has been granted … Read more
Silvergate Capital files for Chapter 11 bankruptcy in Delaware
The parent company of Silvergate Bank has listed assets ranging from $100 million to $500 million and liabilities between $10 million and $50 million. Go to Source
Elon Musk Warns US Laws and Regulations Will Worsen Every Year Without Major Reform
Tesla and Spacex CEO Elon Musk has warned that without substantial government reform, laws and regulations will worsen annually, potentially stifling major initiatives. He has reiterated his call for significant U.S. government changes and agreed to help former President Donald Trump lead a new government efficiency commission, an idea he proposed. Musk believes reducing wasteful … Read more
FTX pencils deal to access $600M in Robinhood shares
FTX debtors will pay Emergent $14 million to cover administrative expenses in exchange for the firm withdrawing any claims to $600 million in Robinhood shares and cash. Go to Source
Coinbase Legal Chief Criticizes SEC’s Vague Position on FTX Plan — Says Investors Deserve ‘Way Better’
Coinbase’s chief legal officer has criticized the U.S. Securities and Exchange Commission (SEC) for its ambiguous position regarding FTX’s proposal to repay creditors using stablecoins or other cryptocurrencies. Although the SEC did not explicitly deem these transactions illegal, it retained the right to contest them, leading to frustration within the crypto community. This uncertainty has … Read more
SEC Warns FTX Over Legality of Crypto Asset Distribution in Chapter 11 Plan
The U.S. Securities and Exchange Commission (SEC) has raised concerns over FTX’s plan to pay back claims using its “crypto asset securities.” The SEC’s Senior Trial Counsel, Therese Scheuer, has reserved the right to challenge these transactions under federal securities laws. FTX’s Crypto Repayment Plan Faces Potential SEC Challenge The FTX bankruptcy saga is moving … Read more
