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Bankruptcy
Europe's Economic Crossroads: Recession Fears and S&P Global's
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Will Blockchain Technology Mark a Turning Point in Fraud
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7 Things We Wish Someone Had Told Us Before We Started Trading
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Unwinding The Paradox Of Over-Collateralized Weakness In DeFi
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Europe's Economic Crossroads: Recession Fears and S&P Global's
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Bankruptcy
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CryptoCurrency
FTX Sues Binance and CZ for $1.8 Billion in Stock Buyback Dispute
2024-11-11T11:31:13.604+02:00
The FTX estate claims FTX and Alameda were insolvent in 2021, making the deal invalid.
Sam Bankman-Fried sold about 20% of FTX International and 18.4% of FTX US to Binance.
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CryptoCurrency
FTX's Alameda Research Sues KuCoin to Recover $50 Million in Frozen Assets
2024-10-29T20:03:28.686+02:00
The lawsuit claims KuCoin holds funds belonging to FTX’s estate, intended for creditor repayments.
Filed in Delaware, the lawsuit follows FTX's recent asset recovery from Bybit.
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FTX and CFTC Settle 19-Month Lawsuit for $12.7 Billion, Pending Court Approval
2024-07-17T10:52:47.701+02:00
The settlement includes $8.7 billion in restitution and $4 billion in disgorgement.
The CFTC did not seek a civil penalty because FTX already faces significant liability.
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Bitflyer Takes the Reins: Acquiring FTX Japan amid Bankruptcy Fallout
2024-06-20T18:01:51.168+02:00
Unlike its parent company, FTX Japan reported a surplus of assets compared to liabilities.
Bitflyer ranks 22nd globally in crypto exchange volume, with notable BTC/JPY trading.
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Retail FX
FlowBank Enters Bankruptcy Proceedings Following FINMA Decision
2024-06-13T15:13:58.597+02:00
Clients with Swiss account deposits will receive up to CHF 100,000 in reimbursement.
All contracts including financial agreements, are terminated immediately.
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Regulation
Regulator's Three-Year Concerns Lead to This Trading Firm's Bankruptcy Proceedings
2024-06-13T10:29:38.433+02:00
FINMA has initiated bankruptcy proceedings against FlowBank, a Swiss online broker.
The bank failed to maintain minimum capital requirements and potential over-indebtedness
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FTX Has the Funds, But Creditors Claim Payout Is “Insulting”
2024-05-10T09:05:03.469+02:00
Are customers’ holdings being undervalued?
Get out while the going’s good, or fight for more?
What’s sure is that the IRS is still getting its slice.
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Retail FX
Republic First Bank Failure to Cost $667 Million, Estimates FDIC
2024-04-29T09:12:05.467+02:00
US regulators have seized control of Republic First and facilitated its sale to Fulton.
The acquisition aims to protect depositors and ensure a seamless transition for customers.
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CryptoCurrency
SafeMoon Unravels: Files for Bankruptcy amid Executives' Arrests
2023-12-15T15:19:37.811+02:00
The firm’s top executives face fraud and money laundering charges.
Following the bankruptcy report, SafeMoon's token plunged more than 40%.
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Retail FX
Russia's SPB Exchange Battles Fraudulent Bankruptcy Claims: Report
2023-11-27T22:33:57.693+02:00
The alleged fraudulent claims caused SPB Exchange's shares to plummet.
The Moscow Arbitration Court declined to acknowledge the bankruptcy filings.
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CryptoCurrency
FTX and BlockFi Granted Court Approval to Resume Claims Settlement
2023-11-14T18:16:27.295+02:00
BlockFi's CEO, Zac Prince, recently testified against Sam Bankman-Fried.
Prince mentioned that BlockFi was affected by the collapse of FTX.
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CryptoCurrency
FTX Bankruptcy Saga: Lawsuit Targets Bybit's Investment Arm
2023-11-13T12:35:50.436+02:00
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.
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CryptoCurrency
Celsius Network Obtains US Bankruptcy Court Approval for Restructuring
2023-11-10T22:20:41.487+02:00
The reorganized business plans to focus on mining Bitcoin and earning staking fees.
Celsius' customers will receive $2 billion in cryptocurrency.
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CryptoCurrency
BlockFi's Recovery Plan: What's Next for Crypto Investors?
2023-10-25T08:31:21.318+02:00
BlockFi has revealed its post-bankruptcy recovery plan.
The Wallet withdrawal window is scheduled to close on December 31.
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CryptoCurrency
Genesis’ Exit: Crypto Lender Shuts Down All Trading Operations
2023-09-14T19:57:35.649+02:00
The crypto lender is handling disputes with FTX and Gemini.
The closure of its operations affects both U.S. and international trading desks.
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Former Algorand CEO Steve Kokinos Appointed CEO of Firm Acquiring Celsius
2023-09-11T21:14:47.137+02:00
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.
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CryptoCurrency
FTX Unveils Billions in Assets, including $1.6B in Solana and $560M in Bitcoin
2023-09-11T18:30:03.060+02:00
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.
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CryptoCurrency
DCG’s Payment Plan on Shaky Ground as Genesis Lender Group Objects
2023-08-30T18:21:31.970+02:00
The Ad Hoc Group called the agreement "wholly insufficient."
DCG proposed paying $830M seven years after Genesis' Chapter 11 plan becomes effective.
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CryptoCurrency
Genesis Rebound? DCG Agrees to In-Principle Deal Offering Up to 90% Recovery
2023-08-29T12:16:35.237+02:00
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.
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FTX, BlockFI and Genesis’ Customer Data Exposed in “SIM Swapping Attack”
2023-08-25T20:36:59.370+02:00
The crypto exchange, FTX said compromised customer data is “non-sensitive.”
However, the firm urged customers to be on high alert for scam emails.
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CryptoCurrency
Court Permits “Unlimited” Access to Jailed Bankman-Fried for Trial Preparation
2023-08-24T16:50:16.300+02:00
The permission falls short of the FTX Founder's lawyers' request.
FTX's bankruptcy estate wants to onboard Galaxy for guidance on crypto holding.
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CryptoCurrency
From Bankruptcy to Strategy: FTX Partners with Galaxy to Maximize Value for Creditors
2023-08-24T12:01:14.894+02:00
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.
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CryptoCurrency
FTX Updates Settlement Terms for 'Small Estate Claims' after US Trustee's Disapproval
2023-08-21T15:35:15.303+02:00
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.
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CryptoCurrency
Bankrupt BlockFi Gets Court’s Backing, Enables Withdrawal for US Customers
2023-08-17T21:27:52.410+02:00
The firm looks forward to permitting withdrawal for international clients.
BlockFi had exposure of $1.2 billion to FTX and Alameda Research.
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CryptoCurrency
Prime Trust Unravels: Files for Bankruptcy after Acquisition Intent Fails
2023-08-15T20:13:40.490+02:00
The regulators shut the crypto custodian due to alleged fiduciary breaches.
Former Bank of Nevada's President to lead restructuring efforts.
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