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Bankruptcy

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Retail FX

Russia's SPB Exchange Battles Fraudulent Bankruptcy Claims: Report

  • The alleged fraudulent claims caused SPB Exchange's shares to plummet.
  • The Moscow Arbitration Court declined to acknowledge the bankruptcy filings.
by Jared Kirui
CryptoCurrency

FTX and BlockFi Granted Court Approval to Resume Claims Settlement

  • BlockFi's CEO, Zac Prince, recently testified against Sam Bankman-Fried.
  • Prince mentioned that BlockFi was affected by the collapse of FTX.
by Jared Kirui
CryptoCurrency

FTX Bankruptcy Saga: Lawsuit Targets Bybit's Investment Arm

  • Bybit's Mirana Corp received $837 million before FTX's Chapter 11 bankruptcy.
  • The firm is persisting in withholding funds from FTX, prolonging the legal dispute.
by Tareq Sikder
CryptoCurrency

Celsius Network Obtains US Bankruptcy Court Approval for Restructuring

  • The reorganized business plans to focus on mining Bitcoin and earning staking fees.
  • Celsius' customers will receive $2 billion in cryptocurrency.
by Jared Kirui
CryptoCurrency

BlockFi's Recovery Plan: What's Next for Crypto Investors?

  • BlockFi has revealed its post-bankruptcy recovery plan.
  • The Wallet withdrawal window is scheduled to close on December 31.
by Tareq Sikder
CryptoCurrency

Genesis’ Exit: Crypto Lender Shuts Down All Trading Operations

  • The crypto lender is handling disputes with FTX and Gemini.
  • The closure of its operations affects both U.S. and international trading desks.
by Jared Kirui
CryptoCurrency

Former Algorand CEO Steve Kokinos Appointed CEO of Firm Acquiring Celsius

  • The crypto lender’s board includes executives from WeWork, Lehman Brothers, and USBTC.
  • Celsius' creditors are voting on a potential revival of the lender until September 2022.
by Jared Kirui
CryptoCurrency

FTX Unveils Billions in Assets, including $1.6B in Solana and $560M in Bitcoin

  • FTX's executives allegedly received $2.2 billion before the company collapsed.
  • A court document reveals the company’s extensive real estate portfolio in the Bahamas.
by Jared Kirui
CryptoCurrency

DCG’s Payment Plan on Shaky Ground as Genesis Lender Group Objects

  • The Ad Hoc Group called the agreement "wholly insufficient."
  • DCG proposed paying $830M seven years after Genesis' Chapter 11 plan becomes effective.
by Solomon Oladipupo
CryptoCurrency

Genesis Rebound? DCG Agrees to In-Principle Deal Offering Up to 90% Recovery

  • The agreement between DCG and Genesis' creditors offers 70-90% recovery in USD equivalent.
  • Genesis filed for bankruptcy following FTX's collapse after halting withdrawals last year.
by Jared Kirui
CryptoCurrency

FTX, BlockFI and Genesis’ Customer Data Exposed in “SIM Swapping Attack”

  • The crypto exchange, FTX said compromised customer data is “non-sensitive.”
  • However, the firm urged customers to be on high alert for scam emails.
by Solomon Oladipupo
CryptoCurrency

Court Permits “Unlimited” Access to Jailed Bankman-Fried for Trial Preparation

  • The permission falls short of the FTX Founder's lawyers' request.
  • FTX's bankruptcy estate wants to onboard Galaxy for guidance on crypto holding.
by Solomon Oladipupo
CryptoCurrency

From Bankruptcy to Strategy: FTX Partners with Galaxy to Maximize Value for Creditors

  • The failed exchange aims to sell, stake, and hedge its USD $3 billion crypto holdings.
  • The collaboration aims to prevent an abrupt drop in the price of crypto assets.
by Jared Kirui
CryptoCurrency

FTX Updates Settlement Terms for 'Small Estate Claims' after US Trustee's Disapproval

  • The exchange criticized the US Trustee for objecting to the settlement.
  • Meanwhile, FTX and Genesis recently agreed to a payment of $175 million to resolve their dispute.
by Solomon Oladipupo
CryptoCurrency

Bankrupt BlockFi Gets Court’s Backing, Enables Withdrawal for US Customers

  • The firm looks forward to permitting withdrawal for international clients.
  • BlockFi had exposure of $1.2 billion to FTX and Alameda Research.
by Solomon Oladipupo
CryptoCurrency

Prime Trust Unravels: Files for Bankruptcy after Acquisition Intent Fails

  • The regulators shut the crypto custodian due to alleged fiduciary breaches.
  • Former Bank of Nevada's President to lead restructuring efforts.
by Jared Kirui
CryptoCurrency

Dasset Crypto Exchange Crumbles: The Ripple Effects of Regulatory Pressure

  • Customers have been unable to withdraw funds for months.
  • The CEO of the exchange explains that banks do not want to cooperate with crypto firms.
by Damian Chmiel
CryptoCurrency

SEC Fines Bittrex $24M in Settlement for Unregistered Securities Charges

  • The sum constitutes disgorgement, prejudgment interest, and civil money penalties.
  • In May, Bittrex filed for bankruptcy.
by Jared Kirui
CryptoCurrency

FTX Asks Court to Remove Dubai Unit from US Bankruptcy Proceedings

  • The exchange wants FTX Dubai to be liquidated under the laws of the UAE.
  • FTX believe this step will speed up the process to exit bankruptcy.
by Jared Kirui
CryptoCurrency

FTX and Genesis Global Strike Deal to Settle Bankruptcy Disputes

  • The crypto lender is reportedly owed USD $226 million by FTX.
  • FTX claims Genesis owes it USD $2 billion.
by Jared Kirui
CryptoCurrency

Judge Contemplates Jailing Sam Bankman-Fried Ahead of Fraud Trial

  • SBF is accused of witness tampering.
  • The presiding judge tightened SBF's bail terms on Wednesday.
by Jared Kirui
CryptoCurrency

FTX Launches $1B Lawsuit against Sam Bankman-Fried and Former Executives

  • The exchange is accusing the defendants of misappropriating users' funds.
  • The alleged fraudulent transactions reportedly took place from 2020 onwards.
by Jared Kirui
CryptoCurrency

Are FTX Users Facing a Phishing Attack? Customers Get Suspicious Emails: Report

  • Earlier, FTX earlier instructed users to stay on alert for phishing links.
  • So far, the exchange has recovered $7 billion out of $8.7 billion owed to users.
by Solomon Oladipupo
CryptoCurrency

FTX Foundation under Scrutiny as Bankruptcy Team Pursues $71M Recovery

  • The funds were allegedly donated to life science companies.
  • FTX claims the donations were made for Bankman-Fried's 'personal aggrandizement'.
by Jared Kirui
CryptoCurrency

FTX Seeks to Recover $300M Paid to the Leadership of Its European Affiliate

  • The amount was paid in connection to the acquisition of FTX Europe.
  • The exchange has asked the court to halt the pending payments.
by Jared Kirui
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