Grocery courier Boxed Inc. said Tuesday it might file for bankruptcy as it continues to explore a possible sale of the business less than two years after going public through a merger with a special-p...
Tag: Bankruptcy
BlockFi Bankruptcy Attorney Describes Digital Assets Lender as Safe amid Silicon Valley Bank Crisis
Christine Okike said BlockFi remains safe and looked to access significant cash held with Silicon Valley Bank yesterday. Despite the Silicon Bank exposure, a BlockFi bankruptcy lawyer maintains that ...
Bankruptcy lawyers could agree to stall litigation over Bankman-Fried’s Robinhood shares
Bankruptcy lawyers battling over Sam Bankman-Fried’s $465 million of Robinhood shares are hashing out a deal to shut down litigation on the matter until the FTX founder’s criminal case is resolved. &#...
The bankruptcy of Silicon Valley Bank
On Friday, the Silicon Valley Bank declared bankruptcy and was closed by federal authorities. We are talking about the biggest bank failure since the US crisis of 2008. This article will go into detai...
What happened to Silvergate Capital? And why does it matter?
Silvergate Capital SI, -11.27% served as one of the main banks for the crypto industry, prior to its collapse earlier this week. The news came just a week after the firm delayed its annual report to t...
Silicon Valley Bank staff offered 45 days of work at 1.5 times salary by FDIC
Staff of Silicon Valley Bank were offered 45 days of employment at 1.5 times their salary by the Federal Deposit Insurance Corp, the regulator that took control of the collapsed lender on Friday, Reut...
Sen. Warren calls out ‘sham audits’ while SVB threatens crypto bankruptcy
United States Senators Elizabeth Warren and Ron Wyden asked the Public Company Accounting Oversight Board (PCAOB) to hold auditors accountable for failed crypto projects. The PCAOB — a non-profit ove...
BlockFi has $227 million in uninsured funds in Silicon Valley Bank
Crypto lender BlockFi has $227 million in “unprotected” funds in Silicon Valley Bank, according to a bankruptcy document, and may be in violation of U.S. bankruptcy law. The bank was shut down b...
Crypto: Silvergate Bank declares bankruptcy
News has spread that Silvergate Bank, the major banking player in the crypto sector, has declared bankruptcy. The parent company’s shares plummeted by an incredible 30 percent, triggering a new wave o...
Silvergate Crypto Bankruptcy: Why did Silvergate Crash?
Silvergate Capital, a California-based bank, has announced that it will begin the process of “winding down” its operations and voluntarily liquidating its bank after a collapse in the crypto market sa...
Sam Bankman-Fried may need more time to review ‘substantial’ evidence, lawyers say
Sam Bankman-Fried may request to delay his October trial, his lawyers said in a letter to a federal judge this week. The disgraced FTX founder says he may need more time to review troves of evid...
Mt. Gox’s largest creditor to hold bitcoins despite bankruptcy payout
The Mt. Gox Investment Fund, the biggest creditor of the bankrupt bitcoin (BTC) exchange, has announced that it will not sell the coins it will receive later this year. According to reports on March 9...
OpenSea, ConsenSys among prized crypto startups with shares available at big discounts
As the crypto industry suffers, decacorns can be yours at mere unicorn prices. Shares in numerous private crypto startups are currently being offered at sizable discounts on Birel.io, a platform...
3AC founders are back with OPNX exchange’s tokenized bankruptcy claims
Ad Three Arrows co-founder Kyle Davis explained the business model of the soon-to-launch OPNX exchange, sparking skepticism from the crypto community. Davies and Su Zhu met at Columbia University, fou...
FTX Bankruptcy Lawyers Submit Multi-Million Dollar Bill for Work
Bankruptcy lawyers for the embattled crypto exchange FTX have submitted a hefty invoice for their work. Meanwhile, creditors are seeking their BTC back from Grayscale. The phalanx of lawyers working w...
Binance.US gets green light to buy Voyager Digital assets
Binance.US can buy failed crypto lender Voyager Digital’s assets, a federal judge confirmed after a four-day marathon hearing that stretched from last week to this one. Judge Michael Wiles conf...
Voyager’s VGX Token Soars as Bankruptcy Judge Signs Off on Binance.US Plan
A federal US bankruptcy court signed off on Voyager’s long awaited restructuring plan on Tuesday, with Binance.US officially stepping in as the crypto credit company’s expected financial savior. Binan...
A Closer Look at FTX’s Most Recent Bankruptcy Documents
A cursory look at just those two assets for FTX (which does not include FTX US) reveals something really beyond comprehension. The identified deficit between customer payables, which are customer bala...
FTX CEO billed $305,000 for February, bankruptcy lawyers cash in too
New FTX CEO John Ray III had a profitable February, with a payday of $305,000 according to new documents released to the public. Attachment 1 of document 811 filed by Kroll — the firm overseeing the F...
US Judge Shuts Down SEC, Says Agency Will Not Be Allowed to Interfere With Crypto Bankruptcy Proceedings
A judge in the Southern District of New York says he will stop the SEC from interfering with a bankruptcy case by claiming a new crypto asset is a security. Judge Michael Wiles says he will not allow ...
Coinflex says restructuring plan is approved by Seychelles court
Courts in the Seychelles, where crypto exchange Coinflex is based, approved its restructuring plans on Monday, according to a statement from the company. The court may publish the written order ...
Silvergate: crypto bank near bankruptcy
Bad news for the crypto bank Silvergate After collapsing on the stock market a few days ago, and after being dumped by virtually all the major exchanges, there is a new downfall for the bank. In fact,...
SEC not allowed to punish Voyager advisers over bankruptcy token, says US judge
The United States Securities Exchange Commission (SEC) won’t be allowed to fine executives involved in Voyager Digital should it end up issuing bankruptcy tokens to help repay impacted customers, bank...
Voyager Bankruptcy Judge Has Harsh Words for SEC’s Objection to Binance Deal
The judge overseeing crypto broker Voyager Digital’s bankruptcy proceedings had harsh words for an objection from the Securities and Exchange Commission during a court hearing Monday. Without certain ...
Voyager Bankruptcy Judge Expresses Skepticism Over U.S. SEC Objection to Binance US Deal
SEC Senior Trial Attorney William Uptegrove said Friday that SEC staff believed Binance US may be operating an unregistered securities exchange in the U.S., an assertion that Binance US objected to. O...
US trustee appeals FTX bankruptcy judge’s ruling to deny appointment of independent examiner
Lawyers for Andrew Vara, the United States Trustee representing the interests of the Department of Justice in crypto exchange FTX’s bankruptcy proceedings, has filed an appeal against a federal judge’...
Crypto prices flat, Silvergate declines ahead of Powell testimony
Crypto markets traded relatively flat as the market prepares for Federal Reserve Chair Jerome Powell’s Congressional testimony on Tuesday and the release of U.S. jobs data on Friday. Bitco...
FTX sues Grayscale and DCG, citing ‘exorbitant’ fees
Collapsed crypto exchange FTX filed a lawsuit against Grayscale Investment, citing mismanagement of the firm as evidence that it was in violation of Trust agreements. The FTX debtors also filed ...
Voyager Bankruptcy Judge Stops SEC From Punishing Executives
Voyager bankruptcy Judge Michael Wiles has blocked the U.S. Securities and Exchange Commission from punishing Voyager executives and bankruptcy advisers concerning a new crypto asset included in the f...
FTX Bankruptcy Examiner Denial Appealed by U.S. Government
The U.S. Trustee, a branch of the Department of Justice (DOJ), had previously argued that bankruptcy law requires an independent probe for any case of such magnitude, despite warnings that it could co...