Bankruptcy Judge Martin Glenn killed the hopes of crypto investors willing refunds from Celsius Network. Assets in the “Earn accounts” belong to Celsius, customers are owners, per the ruling on Decemb...
Tag: Bankruptcy
Crypto Exchange Huobi Has Bad News
This is bad news that the cryptocurrency industry could have done without. The latest episode suggests that the very difficult period that the young Blockchain-powered financial services industry is ...
Major Retailer Appears Headed For Bankruptcy
The party may be over at Party City. Beloved theme and costume retailer Party City (PRTY) – Get Free Report is said to be considering bankruptcy within weeks, and is talking to bondholders abou...
Nexo Accuses Troubled Rival of Pursuing ‘Secret Deal’
Crypto lender Nexo is seriously salty that its acquisition of troubled rival Vauld has been rejected for a final time, in a move that would have sought to make its creditors whole. In an open letter o...
FTX fraud victims invited to come forward by US officials
The U.S. Attorney’s Office for the Southern District of New York invited victims of the FTX collapse to come forward on a website that went live earlier today. An email address through whi...
Mark Cuban Warns of Potential New Crypto Scandal and Fraud
The cryptocurrency industry in recent months has been hit by numerous scandals, which have sharply raised skepticism and mistrust among the general public and encouraged more calls for regulators to s...
FTX Tremor Continues: Genesis Considers Filling for Bankruptcy
Genesis Trading laid off 30% of its workforce recently as it considers filing for bankruptcy. Firm suffers losses on loans it provided to Alameda and 3AC. Genesis’ parent company, DGC also shuts down ...
Genesis Trading lays off 30% of its Workforce As Bankruptcy Looms
Genesis Trading, a troubled crypto lending company, has laid off 60 more employees, or 30% of its workforce, according to sources. This marks the company’s second round of layoffs, after previously cu...
Mt. Gox first repayments pushed back to September
The timeline for Mt. Gox financial details registrations and repayments has been pushed back by two months. The first tranche of repayments from Mt. Gox has been moved to Sept. 30 from July 31, ...
Alameda objects to debtors’ Plan in bankruptcy case
Alameda Research — alongside affiliates Maclaurin Investments and Alameda Ventures — submitted an objection to the debtors’ Motion for Entry of an Order. The objection includes approval of a dis...
Crypto Lender Genesis Reduces Staff As It Ponders On Bankruptcy Filing
A lot of ups and downs going on in the crypto industry have pushed some, if not most, companies to the edge of insolvency. Following its request for emergency bailout funding, popular crypto lender Ge...
Crypto Lender Genesis Slashes Staff and Mulls Bankruptcy: WSJ
According to a Jan. 5 report by the WSJ citing ‘people familiar with the matter,’ Genesis is mulling a bankruptcy filing and has let around 30% of its staff go. The layoffs were across several departm...
Crypto Broker Genesis Cuts 30% Of Staff, Reportedly Mulls Bankruptcy
Topline Yet another major cryptocurrency player is in serious danger of going under, as sources told the Wall Street Journal the embattled lender Genesis is weighing filing for bankruptcy, while the f...
Three Arrows Capital Founders Served Subpoenas via Twitter in Bankruptcy Process – Bitcoin News
The founders of the now-defunct cryptocurrency hedge fund Three Arrows Capital (3AC) have been served subpoenas by the fund’s liquidators via Twitter. While serving subpoenas on Twitter is rare, it ha...
Genesis sacks 30% of workers, may file for Chapter 11 bankruptcy
Beleaguered crypto lender Genesis has sacked 30% of its workers and may file for bankruptcy, The Wall Street Journal reported Jan. 5, citing people familiar with the matter. Genesis previously laid of...
Prominent Research Firm Issues a Warning. Here’s What Will Happen if DCG Files for Bankruptcy
Arcane Research, in a new report, has highlighted that investors should keep an eye on Digital Currency Group’s (DCG) prolonged financial troubles because it could have a negative impact on the crypto...
Bed Bath & Beyond Reportedly Plans Bankruptcy As Meme Stock Crashes Amid ‘Substantial Doubt’ Business Can Continue
Topline Bed Bath & Beyond is reportedly preparing to file for bankruptcy in the coming weeks as the struggling brick-and-mortar retailer faces persistent economic challenges plaguing efforts to tu...
Celsius Network’s Stablecoins Face Liquidation To Cover Bankruptcy Costs
Judge Martin Glenn, the chief United States Bankruptcy Judge in the Southern District of New York, has ruled that ownership of the assets in the Celsius Network’s Earn Accounts belongs to debtors. As ...
Bed Bath & Beyond warns of potential bankruptcy
A Bed Bath & Beyond store is seen on June 29, 2022 in Miami, Florida. Joe Raedle | Getty Images News | Getty Images Bed Bath & Beyond warned Thursday it’s running out of cash and is cons...
Sam Bankman-Fried Issues Not-Guilty Plea in FTX Case
Sam Bankman-Fried pleaded not guilty to a slate of alleged financial crimes before US District Judge Lewis Kaplan in Manhattan on Tuesday, though whether that plea will stand remains to be seen. The f...
US Bankruptcy Court Rules Celsius Deposits Belong to the Firm
– Advertisement – A New York bankruptcy court has ruled the deposits on high-interest-earning accounts belong to Celsius, the embattled former cryptocurrency lending firm, that filed for C...
Crypto: SBF Not Guilty Over FTX Bankruptcy
The first hearing in the FTX case for co-founder Sam Bankman-Fried (SBF) was held yesterday in New York, regarding the bankruptcy of the well-known crypto exchange in November last year. Reuters repo...
Core Scientific will cut power to 37,000 Celsius miners: Bloomberg
Core Scientific will cut off power to 37,000 mining rigs for which Celsius still owes payment, the two now-bankrupt companies agreed. Bloomberg first reported the news. The agreement marks the ...
Bankrupt 3AC Founder Expects Genesis Bankruptcy, What Happens To Grayscale?
The DCG and Genesis debacle continue to wax strong and Grayscale Bitcoin Trust has taken some of the heat from this. The majority of the concerns have been raised around the ability of Digital Currenc...
Is SBF 2.0 Incoming? Will the Entire Genesis Fiasco End up in the Year’s First Bankruptcy?
The FTX contagion continues to spread as the aftermath appears to have not settled. After the fallout of the famous exchange FTX, many platforms which had heavily invested in the firm have been facing...
The Alameda-FTX Crisis Started Years Before Bankruptcy: WSJ Report
The 2022 crypto winter got colder and darker in November when one of the biggest and most prominent crypto exchanges, FTX, imploded. The company, which had bailed out several crypto firms during the T...
FTX Collapse: Bankman-Fried May Plead Not Guilty
Sam Bankman-Fried will start 2023 as he ended 2022 — in court. The fallen former king of crypto is at the heart of one of the biggest scandals that the young blockchain-powered financial servic...
Embattled Cryptocurrency Solana Continues to Crash
The Solana cryptocurrency nightmare seems endless. The token, known as SOL, is one of the few cryptocurrencies directly linked to Sam Bankman-Fried, the disgraced king of the crypto sphere who filed ...
Over $3,500,000,000 in Crypto Transferred to the Bahamas’ Regulator Hours After FTX Declared Bankruptcy
Over $3.5 billion worth of digital assets were transferred to the Securities Commission of The Bahamas just hours after crypto exchange FTX filed for bankruptcy. According to a new press release, the ...
Non-US FTX customers want private info redacted from bankruptcy filings
A group of non-U.S. FTX customers are pushing to have their names and private information redacted from court documents as part of the crypto exchange’s Chapter 11 bankruptcy process. In a Dec. 28 joi...
Strange FTX Hack Upon Bankruptcy Finally Attracts US Feds
The US Department of Justice (DOJ) is reportedly probing an apparent hack worth $372 million on crypto exchange FTX as it filed for bankruptcy on Nov 11. Blockchain analytics unit Elliptic initially r...