Chapter 11 – DIGIT INFO

Crypto custodian Prime Trust files for Chapter 11 bankruptcy

The crypto custodian’s bankruptcy comes as it’s been unable to honor customer withdrawals for months.

FTX, Genesis reach in-principle agreement to settle bankruptcy case

FTX and Genesis lawyers have sent a letter to the bankruptcy judge regarding a settlement agreement.

FTX bankruptcy will be ‘very expensive’ but there’s a reason: Auditor

The legal fees charged in the first months of FTX’s bankruptcy have been examined by an auditor, who has confirmed the case is “on track to be very expensive.”

Go to Source

Voyager app set to reopen for customer withdrawals as soon as June 20

Customers will soon be able to load up the Voyager app and see how much will be available for withdrawal.

Go to Source

Core Scientific moves for September bankruptcy exit, expects $46M boost

Core Scientific said favorable market conditions have increased its liquidity position and its bankruptcy restructuring plan has been revised.

Go to Source

FTX seeks to claw back $4B from Genesis in a battle of the bankrupt

The bankrupt crypto exchange wants to recoup billions from the bankrupt crypto lender claiming it was “instrumental” to FTX’s “fraudulent” business model.

Go to Source

Gemini ‘supportive’ of Genesis mediation, but frustrated over pacing

Genesis is starting a 30-day meditation with its key creditors as its bankruptcy proceedings are close to hitting the four-month mark.

Go to Source

Binance US Pulls the Plug: Voyager Purchase Deal Falls Through

According to the now-defunct crypto lender Voyager, Binance US sent a letter to the company “terminating the asset purchase agreement.” While the announcement was “disappointing” for Voyager, the firm maintained that its customers would still be receiving their cash and crypto through a “direct distribution” via the Voyager platform. Voyager’s Asset Purchase Agreement With Binance […]

Go to Source

Core Scientific to transfer $20M of equipment to settle bankruptcy dispute

Millions of dollars worth of electrical equipment will be transferred to the crypto miners’ exclusive energy negotiator to settle a payments dispute.

Go to Source

SVB’s UK arm issues 15M pounds in bonuses after symbolic bailout: Report

Insider sources reportedly described the bonus pool as “modest,” adding that the stock held by senior execs had been “rendered worthless” following Silicon Valley Bank UK arm’s “near-collapse.”

Go to Source