Chapter 11 bankruptcy

FTX customers could get $9B shortfall claim payout by mid-2024

A proposed settlement could see creditors receive a shortfall claim of $8.9 billion for FTX.com and $166 million for FTX US.

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Crypto lender BlockFi gets court nod to repay customers

The approval is seen as a milestone moment for BlockFi’s over 100,000 creditors, who have been long awaiting repayment.

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Celsius creditors allege Wintermute facilitated ‘wash trading’: Report

It was alleged that Celsius executives engaged Wintermute to conduct wash trading to “fraudulently” manipulate trading volumes on the Celsius platform.

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Crypto Exchange Bittrex Enters Chapter 11 Bankruptcy Protection Following SEC Lawsuit

Bittrex Inc., the U.S.-based cryptocurrency exchange, has filed for Chapter 11 bankruptcy protection in Delaware after being sued by the U.S. Securities and Exchange Commission for failing to register with the regulator. The exchange reportedly has over 100,000 creditors and liabilities ranging from $500 million to $1 billion. Bittrex Bankruptcy Filing Reveals Over 100,000 Creditors […]

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BlockFi to sell $160M in Bitcoin miner-backed loans: Report

The deadline for bidders to submit offers for the Bitcoin-machine-backed loans is set for Jan. 24.

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FTX Discovers $5.5B in Liquid Assets — Debtors Explore Ways to Maximize Recovery via Potential Sale of Subsidiaries, Real Estate

On Jan. 17, 2023, FTX Trading Ltd. and affiliated debtors updated the public and detailed that the firm’s current administrators have discovered $5.5 billion of liquid assets to date. Top-level executives, including the new FTX CEO and chief restructuring officer, John J. Ray III, met with the bankruptcy case’s committee of unsecured creditors to share […]

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BlockFi files motion to return frozen crypto to wallet users

Crypto lender BlockFi has asked a U.S. Bankruptcy Court for the authority to return the crypto held in BlockFi Wallets to users.

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Binance US Plans to Acquire Voyager Digital’s Assets for $1 Billion in Bankruptcy Bid

According to a Binance blog post, Binance US has entered an agreement with Voyager Digital Ltd., in order to acquire its assets. The announcement details that the acquisition “sets a clear path forward for Voyager customers’ funds to be unlocked as soon as possible.” Binance Reveals U.S. Subsidiary to Purchase Voyager Digital’s Assets for $1B, […]

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New FTX CEO Told Members of Congress SBF’s Family ‘Certainly Received Payments’ From the Business

According to multiple reports, FTX co-founder Sam Bankman-Fried’s parents face scrutiny over their reported involvement with their son’s business operations. The two Stanford professors Joseph Bankman and Barbara Fried have not been charged with any wrongdoing, but the current FTX CEO, John J. Ray III, recently told members of the U.S. Congress that Joseph Bankman […]

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Bahamian liquidators reject validity of FTX’s US bankruptcy filing

The provisional liquidator overseeing the FTX Digital Markets bankruptcy proceedings says FTX wasn’t authorized to file for bankruptcy in the U.S without his approval.

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