Consensys CEO Joe Lubin confirmed that the firm’s restructuring plan will impact 162 permanent employees.
]]>
OpenAI’s potential transformation into a for-profit corporation is not impossible, but it will likely not be an easy process.
]]>
Indian crypto exchange Wazirx has accelerated Phase 2 of INR withdrawals after a cyberattack on July 18. Initially scheduled for Sept. 9, eligible users can now withdraw up to 66% of their INR balances. However, crypto trading on the platform will not resume for another six months. Wazirx Expedites INR Withdrawals Amid Post-Hack Restructuring Efforts […]
]]>
Matter Labs, a key player in the crypto industry, is restructuring, resulting in a 16% workforce reduction. The decision, made to align with evolving market demands and internal strategy shifts, was difficult but necessary, according to the CEO Alex Gluchowski. Departing employees will receive a comprehensive exit package, including salary continuation, healthcare, career support, and […]
]]>
Indian crypto exchange Wazirx has announced that a moratorium has been filed in Singapore’s High Court under the Insolvency, Restructuring and Dissolution Act to address users’ crypto balances. The move aims to provide a 30-day relief period for Wazirx to reorganize liabilities through a scheme of arrangement. The Singapore court will determine the duration of […]
]]>
Indian crypto exchange Wazirx has defended its restructuring strategy in response to the July 18 cyberattack that led to the theft of over $230 million. The company emphasized that this approach is the quickest and most legally sound way to address these challenges. “This is not bankruptcy or liquidation since that will take several years,” […]
]]>
These developments indicate TFL’s proactive efforts to tackle Terra’s challenges and restore trust and stability within the Terra ecosystem.
]]>
The US commodities regulator didn’t seek a civil monetary penalty, meaning the entire $12.7 billion would be used to pay back FTX’s creditors.
]]>
A proposed settlement could see creditors receive a shortfall claim of $8.9 billion for FTX.com and $166 million for FTX US.
]]>
The embattled crypto lender is seeking final court approval for a restructuring plan that will start repaying creditors before the end of 2023.
]]>