Terraform Labs to sell 4 companies as part of wind-down
The bankrupt Terraform Labs is looking to sell four of its companies as it winds down operations to comply with its multi-billion SEC deal. Go to Source
Bankruptcy
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Bitcoin bulls refuse to flip bearish despite the $53,300 retest
BTC derivatives continue to show moderate bullishness, creating a positive outlook for reclaiming $60,000 soon. Go to Source
HectorDAO files for Chapter 15 bankruptcy in the US
The decentralized autonomous organization was first impacted by the collapse of the Terra ecosystem in 2022 and suffered $16.4 million in losses. Go to Source
Bitflyer Takes Over FTX’s Defunct Japanese Unit: NHK
According to a local report, the Japan-based crypto exchange Bitflyer has acquired the failed Japanese unit of FTX. The report indicates that arrangements are currently underway to take over the business. Bitflyer Acquires Bankrupt FTX Japan, Local Report Claims On June 20, 2024, NHK reported that Japan’s Bitflyer acquired the now-defunct Japanese unit of FTX. … Read more
Japanese exchange BitFlyer to acquire FTX Japan
FTX Japan, a Japanese subsidiary of the collapsed FTX exchange, is preparing to return with a new owner after repaying its customers in 2023. Go to Source
FTX victims go after company’s assets from criminal forfeiture
Though Sam Bankman-Fried is currently serving a prison sentence, affected FTX customers and creditors are making claims on the firm’s assets, which are still worth millions. Go to Source
FTX creditors object to bankruptcy reorganization plan
The group of creditors, led by Sunil Kavuri, cited several concerns, including forced taxation, which would compromise creditors’ best interests. Go to Source
FTX Reaches Settlement With IRS on $24 Billion Tax Claim
Crypto exchange FTX has reached a settlement with the Internal Revenue Service (IRS), reducing its $24 billion claim to $200 million to be paid within 60 days after the company’s restructuring plan is approved. Additionally, the U.S. tax authority will receive a $685 million lower priority claim, payable only if funds are available after satisfying … Read more
FTX reaches $200M settlement with IRS on tax bill
The agreement, which is subject to a court approval, resolves a major hurdle for FTX bankruptcy process. Go to Source
Bankruptcy Court Backs Bittrex in Cryptocurrency Freeze Dispute
The bankruptcy proceedings of Bittrex Inc. involved a legal dispute over claims filed by Azim Ghader, who sought recovery for lost profits and damages after his cryptocurrency was frozen on the Bittrex exchange in 2017. The United States Bankruptcy Court for the District of Delaware found that Bittrex had complied with legal requirements and upheld … Read more
