Bookmarking Crypto Insights
Auto Added by WPeMatico
Crypto lender Genesis Global obtained court approval Friday to return approximately $3 billion to its customers as part of its bankruptcy liquidation. U.S. Bankruptcy Judge Sean Lane approved Genesis’ Chapter 11 plan, overruling an objection from its equity owner, Digital Currency Group (DCG), which argued that repayments should be based on January 2023 cryptocurrency values. … Read more
According to Judge Lane, any available funds for distribution by Genesis are being exhausted by creditor claims, which take priority over DCG’s equity stake. Go to Source
Pleterski and an associate were arrested months after multiple investor complaints and months of police investigation. Go to Source
Bitcoin rallies as central bank stimulus packages become more common, and the Fed’s signal of “higher for longer” interest rates aligns with investors’ market view. Go to Source
The now-defunct crypto lender Blockfi is officially shutting down the firm’s web portal this month according to an update from the firm. Blockfi said that it has partnered with Coinbase to help facilitate the execution of withdrawals to eligible Blockfi customers. Blockfi Collaborates With Coinbase for Withdrawals, Plans to Shut Down Web Portal After the … Read more
FTX’s amended plan contains an exculpation clause that could absolve Sullivan & Cromwell, along with all debtors, of future liabilities. Go to Source
Rob Gronkowski, Victor Oladipo, and Landon Cassill have agreed to settle with plaintiffs in their ongoing case against Voyager Digital. Go to Source
Salame proposes to satisfy the debtors by transferring a residence he owns to FTX Digital Markets Ltd. Go to Source
According to the terms of the deal, FTX will “relinquish any and all rights” to $450 million Voyager Digital has claimed from the crypto exchange. Go to Source
Half a year ago, firms specializing in acquiring troubled companies and their debts were actively accumulating FTX bankruptcy claims worth millions, offering $0.33 for every dollar of claim. Presently, the valuation of these claims has significantly appreciated, with buyers now prepared to offer $0.93 on the dollar for each claim. FTX Bankruptcy Claims Now Worth … Read more