Now-bankrupt FTX may have experienced financial trouble for years before the public became aware, the exchange’s new CEO testified Tuesday. John Ray, who took over to handle the exchange’s restr...
Tag: Bankruptcy
New FTX chief describes the firm’s collapse in bankruptcy testimony
Recently appointed chief exec of crypto exchange FTX, John J. Ray III, provided new insight into the firm’s collapse in prepared testimony on Tuesday. At a US House Financial Services hearing on the s...
Argo Blockchain Warns Bankruptcy Still on the Table
The crypto mining sector is continuing to suffer from low crypto prices and rising energy costs. Argo Blockchain warned on Monday that it’s threatened by the risk of holding “insufficient cash” ...
Cardano Protected Much Better Than FTX from Crash and Bankruptcy: Source
Yuri Molchan Prominent Twitter account related to Cardano explains why “there is no one to arrest” here, unlike FTX Contents SBF arrested, Binance may face charges too BNB under selling pr...
Clovis Enters Bankruptcy With Deal to Sell Cancer-Drug Candidate to Novartis
Clovis Oncology Inc., maker of the ovarian and prostate cancer drug Rubraca, filed for bankruptcy over the weekend with a proposed deal in hand to sell its rights to a cancer therapy under development...
Argo trading at London Stock Exchange resumes amid bankruptcy fears
Argo Blockchain plc, a cryptocurrency mining firm has announced that its shares will be restored for trading on the London Stock Exchange. This decision was made due to the organization’s risk of accu...
$75M worth of FTX’s political donations at risk of being recalled due to bankruptcy: Report
Following the collapse of FTX and its Nov. 11 bankruptcy filing, $73 million worth of its political donations is currently at risk of being recalled to repay the failed exchange’s creditors, according...
SBF Blames FTX Bankruptcy Decision On ‘Pressure And Stress’
SBF FTX News: Sam Bankman-Fried is blaming the ‘hurried’ decision to file for bankruptcy on pressure from various people. While he had already said he was not really in favor of filing for bankruptcy,...
FTX debtors attempt to seal corporate identities to obfuscate bankruptcy proceedings
According to documents filed on Dec. 12, the Debtors of FTX are attempting to obfuscate the bankruptcy hearing by continuing to insist all individual and corporate client identities are sealed unless ...
Argo Blockchain reports insufficient funds, ‘no assurance’ it can avoid Chapter 11 bankruptcy
Crypto mining firm Argo Blockchain has reported it had been negotiating to sell assets and “engage in an equipment financing transaction” in an effort to avoid filing for bankruptcy. In a Dec. 12 anno...
Bitcoin Miner Argo Blockchain Says It’s Close to Restructuring Without Having to Declare Bankruptcy
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Crypto Problems Grow: Binance Might Face Money-Laundering Charges
The end of the year is proving very eventful, even tumultuous, for the crypto industry. The fledgling blockchain-powered financial-services industry is still wondering what and who will be the collate...
Bahamas regulators investigate FTX client withdrawals: Bloomberg
Whether or not FTX executives played a role in client withdrawals that took place after the exchange saw its assets frozen is now under investigation by Bahamian authorities, Bloomberg News reported, ...
Severe Storms Push Florida Home Insurer FedNat to Bankruptcy
(Bloomberg) — FedNat Holding Co., a Florida-based homeowners insurance company, filed for bankruptcy after an increase in severe weather events in the state weighed on its balance sheet. Most Re...
FTX Founder Blames ‘Bad Legal Advice’ For Crypto Firm’s Bankruptcy
Topline Sam Bankman-Fried insinuated law firms looking for a massive payday contributed to cryptocurrency exchange FTX’s decision to file for bankruptcy last month, during a Monday morning interview w...
FTX CEO Ray details firm’s lack of controls, sophistication under SBF in testimony to Congress
FTX CEO John Ray refuted Sam Bankman-Fried’s contention that FTX US has enough segregated funds on hand to re-open user withdrawals. The CEO laid out the core structural flaws that led to ...
Sam Bankman-Fried Still Thinks He’s a Good Businessman
Sam Bankman-Fried still reckons he’s a good businessman despite his epic mismanagement triggering havoc across the entire crypto ecosystem. In an interview with BBC from a luxury apartment somewhere i...
Carvana Close To Bankruptcy And Impact Of Rising Interest Rates Starting To Hit Home
Getty Images TL;DR The impact of rising interest rates is starting to hit home, with sectors that rely heavily on debt beginning to feel the impact of lower demand Used car retailer Carvana looks clos...
Cancer Focused Clovis Oncology Files For Bankruptcy
Clovis Oncology Inc (NASDAQ: CLVS) has voluntarily initiated a Chapter 11 proceeding in the U.S. Bankruptcy Court and will seek to sell its assets through a court-supervised sales process. The Debtors...
China’s regulator sees FTX’s bankruptcy as a reason for tighter regulation
The China Securities Regulatory Commission (CSRC) believes FTX’s bankruptcy filing had far-reaching ramifications for the broader cryptocurrency ecology and showed the need to enact more stringent reg...
Alameda-Genesis Relationship Risks DCG Bankruptcy, Claims Messari Founder
Crypto research firm Messari’s founder Ryan Selkis on Monday said Genesis and Alameda had bad loans and intertwined crypto borrower-lender relationships. FTX and Alameda bankruptcy could risk Genesis ...
Genesis liquidation could force DCG bankruptcy
Haseeb Qureshi, the Managing Partner at Dragonfly Capital, discussed the potential consequences of Genesis going into liquidation on a recent episode of Unchained’s “The Chopping Block.” 1/ On a recen...
CEO of Crypto.com has a history of warning signs, such as bankruptcy and abrupt departures
Join Our Telegram channel to stay up to date on breaking news coverage Everyone should be aware that Kris Marszalek’s business, Crypto.com, is secure and in capable hands. That is evident from his twe...
Before the Bankruptcy Filing, FTX Co-Founder SBF Was Told by Crypto Execs to ‘Stop Trying to Depeg Stablecoins’ – Bitcoin News
According to a recent report published by the Wall Street Journal (WSJ), cryptocurrency executives were allegedly concerned that Sam Bankman Fried’s (SBF) Alameda Research was trying to “depeg stablec...
Bloomberg and Several Media Giants Move To Reveal Personal Information of FTX Clients in Bankruptcy Proceedings
A group of the world’s biggest media corporations is making a move to reveal the identities of those who lost money in the collapse of crypto exchange FTX. According to documents provided by Kroll, FT...
Bitcoin miner Argo Blockchain plans to file for bankruptcy
Argo Blockchain, a company that mines cryptocurrencies, made public its intentions to file for bankruptcy earlier than expected on December 12 due to an administrative error. Will Foxley, the Content ...
Blockchain Fintech ‘Symbiont’ Files For Chapter 11 Bankruptcy
Blockchain News The business was once known as Math Money FX and was established in 2013. Its early investors included the ex-CEO of the New York Stock Exchange. On December 1st, Symbiont filed for Ch...
U.S. prosecutors probing FTX founder Sam Bankman-Fried in potential fraud case: Bloomberg
U.S. prosecutors are probing Sam Bankman-Fried, the disgraced founder of now-bankrupt crypto group FTX, for a potential fraud case against him, Bloomberg reported Friday, citing a person familiar with...
FTX Founder Sam Bankman-Fried Illegally Moved Millions During Bankruptcy
U.S. federal prosecutors investigating the collapse of crypto exchange FTX and its relation with hedge fund Alameda Research are now probing how funds held by the crypto exchange moved out of the U.S....
Argo Blockchain accidentally reveals plans for bankruptcy
Argo Blockchain, a crypto mining company, has reportedly accidentally revealed a petition for bankruptcy. This news was reported by Will Foxley, the Content Director at Compass Mining, who shared a sc...
FTX NFTs inaccessible, users redirected to bankruptcy page
It has now been revealed that NFTs issued on the FTX market display a blank image instead of the original artwork. Relevant links redirect to a restructuring website containing information about the e...