Bankruptcy – Page 41

Judge rejects motion to freeze Cred’s crypto assets in bankruptcy case

A U.S. bankruptcy judge has rejected a motion to freeze the assets of beleaguered crypto lending service that was filed by its users.

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Christine Lagarde: ‘The European Central Bank Cannot Go Bankrupt or Run Out of Money’

Christine Lagarde: 'The European Central Bank Cannot Go Bankrupt or Run Out of Money' In remarks that highlight flaws of the fiat currency system, the European Central Bank (ECB) president, Christine Lagarde, says the institution cannot go bankrupt even if it incurs losses running into trillions. According to Lagarde, normal bankruptcy rules do not apply to the ECB primarily because it is the sole issuer of euro-denominated central bank […]

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Cred customers demand answers after platform files for bankruptcy

“We just want to know that our funds are safe,” said one Cred user

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Quadriga CX Trustee Raises $30 Million for Reimbursements to Creditors, Claimants Want $171 Million Instead

Quadriga CX Trustee Raises $30 Million for Reimbursements to Creditors, Claimants Want $171 Million Instead The trustee of the now-defunct crypto exchange, Quadriga CX says the sell-off of the platform’s assets raised $30 million. This contrasts with the $171 million in claims that has been filed with the trustee by Quadriga creditors. Consequently, Ernst and Young (EY), the accounting firm mandated with administering Quadriga’s liquidation process, says it will not […]

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Safety Check: If Crypto Custodian Fails, Clients May Not Get a Full Payout

Crypto exchanges — not segregating blockchain addresses — could lead to ownership disputes in the event of insolvency, research says.

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Report: Bankruptcy Law Can Be Unclear When Crypto Custodians Go Belly Up

The past few years have seen a glut of cryptocurrency exchanges becoming insolvent. But what legal rights do their customers have with regards to the return of their held assets?

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Gox Rising Offers $800 per Bitcoin Claim to Buy out Mt Gox Creditors

Gox Rising Offers $800 per Bitcoin Claim to Buy out Mt Gox Creditors Gox Rising has offered to buy out creditor claims from the collapsed cryptocurrency exchange Mt. Gox. The Brock Pierce-led outfit will pay $800 per bitcoin claim, either in BTC or cash, to creditors who are unwilling to wait for the finalization of the ongoing civil litigation. “Our payment would be put in escrow and made […]

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Switzerland’s Famed “Crypto Valley” Seeks $103 Million Government Bailout

Switzerland's Famed "Crypto Valley" Seeks $103 Million Government Bailout Switzerland’s “crypto valley” is asking the government for 100 million Swiss francs ($102.7 million) in funding, local media reported. The once flourishing Swiss cryptocurrency industry is struggling to survive following the withdrawal of private equity investors. About 80% of 203 firms surveyed by the Swiss Blockchain Federation recently warned of imminent bankruptcy. Only half of […]