Tags: Bankruptcy

The latest transfer of $23.59 million was spread across 19 tokens, including ETH, ALEPH, CRV, AVAX, LINK, DOGE, MATIC, UNI, and SOL.

Bankrupt crypto exchange FTX is preparing to present an updated reorganization plan to the court in mid-December.

If approved, this third version of the plan will go into effect on Jan. 5, 2024, and see the company add 372 MW in capacity by 2027.

Celsius Network’s Bitcoin Mining Pivot Faces Hurdles, Judge Suggests New Vote

Following their most recent move, FTX and Alameda Research have transferred another significant amount of digital assets, amounting to an impressive $22 million.

IRS Deals Devastating Blow to FTX With $24 Billion Tax Claim, Crypto Exchange Pushes Back

Judge Martin Glenn reportedly said that the proposed transformation into a Bitcoin mining business deviates significantly from the deal creditors initially voted on.

Eligible participants can withdraw 72.5 of their cryptocurrency holdings, subject to transaction fees reducing the total.

Nearly $700 million of the $873 million trust assets allowed to be sold by FTX comes from Grayscale’s flagship product, the Grayscale Bitcoin Trust, or GBTC.

Digital Currency Group has over $320 million left to repay, according to Genesis, and the deal would see that remaining sum repaid by April next year.

A U.S. bankruptcy court judge has ordered the end of an automatic holding placed on claims settlement proceedings between the two bankrupt crypto companies FTX and BlockFi.

FTX Foundation employee Ross Rheingans-Yoo said he was not part of Sam Bankman-Fried’s “inner circle” and knew nothing about FTX’s fraud.

The fallen Bitcoin mining giant is seeking final approval of its bankruptcy plan from its largest unsecured claims holder, B. Riley.

The legal action is pursuing “compensatory and punitive damages” from ByBit regarding the token scheme and the assets held on its platform.

The cryptocurrency exchanges offers a self-custody solution that integrates a multiparty computation technique to secure funds.

SOL hit its highest price since May 2022, possibly due to an uptick in DApp use and a few other key factors.

Recovery from the crypto winter is proceeding, but Hodlnaut won’t survive it. A sealed court order in Singapore appears to spell its doom.

The decision ends the complex case with a creditor-approved plan that will see their partial reimbursement and make them shareholders in a new company.

“If Tom or anybody else wanted to be in this field, I would say, ‘Do it within the law,’” SEC Chair Gary Gensler iterated.

Kyle Davies’ and Su Zhu’s OPNX exchange acquired a Lithuania virtual asset license to offer spot trading in the EU.

“The return comes from hashrate, not from pixie dust, ponzi schemes, or rehypothecation,” a Luxor Technology executive stressed.

The recent surge in FTX claims is attributed to its early investment in AI companies, which have jumped in valuation.

Google has already invested $500 million as part of the deal, while the outstanding $1.5 billion will be paid over time, according to the Wall Street Journal.