Trustee – DIGIT INFO

Mt Gox Funds Arrive at Kraken: Bitcoin and Bitcoin Cash Distributions Expected Soon

DIGIT — Tue, 16 Jul 2024 15:01:10 +0000

According to a recent update from Kraken, the centralized cryptocurrency exchange has received funds from the Mt Gox trustee. Consequently, bitcoin (BTC) and bitcoin cash (BCH) payouts will be distributed to creditors’ accounts within 7 to 14 days. Kraken Confirms Receipt of Mt Gox Funds On Tuesday, the Mt Gox trustee moved significant amounts of […]

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Mt Gox Trustee Transfers $2.7B in Bitcoin, Creating 19th Largest BTC Wallet

DIGIT — Fri, 05 Jul 2024 01:58:07 +0000

On Thursday, the trustee overseeing the Mt. Gox bitcoins transferred about 47,228.73 BTC to an undisclosed address. The transfer, valued at approximately $2.7 billion, leaves Mt. Gox with around 141,687 BTC worth nearly $8.1 billion. This significant transaction came after several test transfers were conducted earlier on July 4. The trustee had previously announced that […]

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Bitcoin derivatives turn bearish as traders anticipate sub $60K BTC price

DIGIT — Mon, 24 Jun 2024 19:15:36 +0000

Bitcoin derivatives data suggests that macroeconomic and crypto-specific factors are behind BTC’s recent drop below $60,000.

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Deadline Approaching: Mt Gox Trustee Sets Final Cut-off Date for Creditors to Claim Over $3 Billion in Recovered Bitcoin

DIGIT — Thu, 09 Mar 2023 11:15:06 +0000

The Tokyo bankruptcy court trustee for the defunct Japanese bitcoin exchange Mt Gox, Nobuaki Kobayashi, has published a letter stating that creditors have until March 10, 2023 (Japan Time) to register their repayment claims. Kobayashi explains that the team is dealing with “a large number of inquiries” and may not be able to respond to […]

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Voyager victim calls for trustee to seize control of the estate

DIGIT — Thu, 02 Feb 2023 06:15:26 +0000

The 120-page motion came from a creditor who asked for the appointment of a chapter 11 trustee citing alleged fraud and incompetence at Voyager.

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FTX lawyers: Examiner could cost $100M and ‘provide no benefit’

DIGIT — Thu, 26 Jan 2023 05:19:47 +0000

FTX lawyers, joint provisional liquidators of FTX.US and the Bahamas and a committee of creditors have all opposed the appointment of an independent examiner.

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Celsius Floats Possibility of Debt Token to Repay Creditors; Secures Court Approval to Process Customer Withdrawals

DIGIT — Wed, 25 Jan 2023 22:30:32 +0000

The defunct crypto lender Celsius is exploring the possibility of creating a debt token to repay creditors. The plan would need to be approved by regulators, but if approved by the trustee and financial authorities, the debt token would be called an “asset share token (AST).” Celsius Proposes ‘Asset Share Token’ as Plan to Repay […]

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FTX’s $5.5 Billion in Alleged ‘Liquid Assets’ Includes Locked SOL Cache and Illiquid FTT Holdings

DIGIT — Thu, 19 Jan 2023 17:30:50 +0000

Two days ago, bankruptcy administrators and FTX debtors published an update for unsecured creditors claiming the discovery of $5.5 billion in liquid assets. Roughly $3.5 billion of these funds are cryptocurrency assets, with 11 different digital currencies classified as “liquid assets.” However, two of the firm’s top cryptocurrency caches are not liquid as the company’s […]

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FTX CEO fights to keep lawyers as calls for removal intensify

DIGIT — Thu, 19 Jan 2023 02:03:10 +0000

Numerous parties have objected to the retention of Sullivan & Cromwell as lead counsel to FTX, citing conflicts of interest and insufficient disclosures.

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Celsius wants to extend the deadline for claims as lawyer fees mount

DIGIT — Thu, 29 Dec 2022 06:19:42 +0000

Administrative expenses from the bankruptcy proceedings have already topped $53 million, and continued delays are chipping away at Celsius’ estate.

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