Financial Troubles – DIGIT INFO

Report: Investigation Finds No Fault With Sullivan & Cromwell in FTX Bankruptcy

DIGIT — Sun, 26 May 2024 04:13:23 +0000

An investigation into the law firm Sullivan & Cromwell LLP, which worked with the now-defunct crypto exchange FTX, revealed that the firm was neither involved in the fraud nor aware of the financial troubles that plagued the collapsed trading platform. Sullivan & Cromwell Cleared of Negligence in FTX Collapse Following a recent investigation, former U.S. […]

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JPMorgan Chase Assumes Control of First Republic Bank Following Seizure by California Regulators

DIGIT — Mon, 01 May 2023 12:35:28 +0000

On May 1, 2023, the California Department of Financial Protection and Innovation (DFPI) seized First Republic Bank, placing it into Federal Deposit Insurance Corporation (FDIC) receivership. According to reports, this move came after the bank’s financial troubles made it insolvent and unable to meet its obligations. Following the seizure, JPMorgan Chase submitted the winning bid […]

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White House Says Biden Has ‘Confidence’ in Fed Chair Powell While Fedwatch Tool Predicts a 25bps Hike This Week

DIGIT — Tue, 21 Mar 2023 13:39:25 +0000

With the Federal Open Market Committee convening on Wednesday and the recent financial troubles facing the U.S. banking system, White House press secretary Karine Jean-Pierre said President Joe Biden has “confidence” in Federal Reserve chair Jerome Powell. Meanwhile, according to the CME Group’s Fedwatch tool, the target rate probability suggests the Fed will raise the […]

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Silvergate Bank Announces Voluntary Liquidation as Crypto Industry Woes Persist

DIGIT — Wed, 08 Mar 2023 22:38:42 +0000

At 4:30 p.m. Eastern Time, Silvergate Bank announced its intention to wind down the crypto-friendly bank’s operations and voluntarily liquidate the company’s assets. The news follows significant financial troubles the bank faced, and the firm’s stock plummeted in value. Details of Silvergate’s Wind Down and Liquidation Plan Over the last six months, Silvergate Capital Corporation’s […]

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Report Shows Financial Troubles Plagued Bankman-Fried’s Alameda Research as Early as 2018

DIGIT — Mon, 02 Jan 2023 15:30:57 +0000

Before FTX collapsed it was assumed that Alameda Research was one of the top quantitative trading firms and market makers within the industry. However, much of that perception may have been a facade as a recent report details that Alameda suffered from financial troubles as early as 2018. People familiar with the matter said Alameda […]

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Crypto Lender Blockfi Files for Bankruptcy Protection to ‘Maximize Value for All Clients’

DIGIT — Mon, 28 Nov 2022 19:00:49 +0000

On Nov. 28, 2022, the crypto lender Blockfi informed the public via a press release that the company has voluntarily petitioned for Chapter 11 bankruptcy protection. Blockfi is now one of many digital currency businesses dealing with significant financial hardships and bankruptcy proceedings in 2022. Blockfi Voluntarily Petitions for Chapter 11 Bankruptcy Protection Blockfi has […]

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Three Arrows Capital Founders Speak After Filing Bankruptcy, Exec Says the ‘Whole Situation Is Regrettable’

DIGIT — Fri, 22 Jul 2022 14:30:01 +0000

This week the two co-founders of the embattled cryptocurrency hedge fund Three Arrows Capital spoke to Bloomberg about their fund crumbling at the seams. The co-founders Su Zhu and Kyle Davies did not disclose their whereabouts, but a lawyer who monitored the interview noted the duo is located in the United Arab Emirates. Zhu said […]

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