It’s difficult to conceive of a way to address the student debt issue in a way that would satisfy both conservative and liberal politicians, but a nascent movement to allow people to discharge s...
Tag: Bankruptcy
FTX Lawyers Tell Bankruptcy Court The Company Became SBF’s “Personal Fiefdom”
During the proceedings, the newly appointed FTX lawyers put their analysis in front of the court. Before filing for Chapter 11 bankruptcy, the former FTX CEO, Sam Banman-Fried, reported the liquidity ...
Bankruptcy Judge Orders Celsius to Return $44M in Cryptocurrencies
The U.S. bankruptcy judge responsible for the Celsius Network case has ordered the bankrupt crypto lender to return around $44 million worth of cryptocurrencies. According to Bloomberg, the ruling by...
Bankruptcy Judge Orders Celsius to Return $50 Million to Customers
Martin Glenn, the judge overseeing Celsius’ bankruptcy proceedings, has ordered the crypto lending firm to return cryptocurrency worth approximately $50 million to users who use custody accounts, acco...
Carvana Defiant in Face of Alarms About Possible Bankruptcy
Carvana undoubtedly is facing the biggest crisis in its 10 years of existence. For several weeks now the online car dealership has been the subject of speculation about its financial condition and th...
Galaxy Digital gets 60% off Celsius assets after crypto lender’s bankruptcy
Galaxy Digital, Mike Novogratz’s crypto-focused financial services firm, announced Friday that it had won an auction to purchase GK8 from insolvent cryptocurrency lender Celsius Network. Price lower t...
Celsius Bankruptcy Judge Orders Return of $50M in User Assets
Chief bankruptcy judge of the Southern District of New York Martin Glenn has ordered failed crypto lender Celsius Network to return cryptocurrency worth $50 million back to its customers. Glenn delive...
Is Carvana Going To Declare Bankruptcy?
Getty Images Carvana via Getty Images Key Takeaways Carvana is looking to be on the brink of bankruptcy, with yields on their corporate notes above 30% according to the Wall Street Journal. The stock ...
Celsius Bankruptcy Ruling Could Set Precedent for FTX
A U.S. judge has determined that certain customers of bankrupt crypto lender Celsius Network are entitled to receive their deposits back. Celsius Network was among the larger crypto platforms to go ba...
Bankruptcy Court Orders Celcius to return $50M of Crypto
The post Bankruptcy Court Orders Celcius to return $50M of Crypto appeared first on Coinpedia Fintech News The order delivered by the Bankruptcy judge of the Southern District of New York directed Cel...
Taylor Swift had a $100M FTX sponsorship deal fall apart prior to its bankruptcy: Report
Pop star Taylor Swift reportedly could have been one of the faces of failed crypto exchange FTX had talks over a $100-million deal not ended prematurely. According to a Dec. 7 report from the Financia...
Bankruptcy Judge Approves Subpoenas for Three Arrows Co-Founders
Subpoenas are on the way to Three Arrows Capital co-founders Kyle Davies and Su Zhu, along with the rest of the crypto hedge fund’s leadership, as liquidators now have permission to demand communicati...
3AC Co-Founders Su Zhu, Kyle Davies Subpoenaed in Bankruptcy Case
A federal bankruptcy judge has approved the issuance of subpoenas to the co-founders of the collapsed hedge fund – Three Arrows Capital (3AC) – Su Zhu and Kyle Davies. In a document published on Tuesd...
Carvana, the Amazon of Used Cars, Is Collapsing
Carvana, the Amazon of used cars, on Wednesday is having one of its worst days on Wall Street. Carvana shares fell more than 36% to $4.27 as doubts about the company’s ability to meet its paymen...
Carvana stock collapses amid bankruptcy fears
Carvana (CVNA) shares were spiraling early Wednesday after the online car retailer’s biggest creditors reportedly signed an agreement to cooperate in potential restructuring negotiations as the compan...
Elon Musk Says FTX’s Bankman-Fried Should Be in Jail
Sam Bankman-Fried, the founder of the bankrupt cryptocurrency exchange FTX, has been on a media tour since November 30 to try to rewrite the overnight implosion of his empire. According to him, every...
Celsius Chapter 11 Update and Galaxy’s Acquisition of GK8
December 7, 2022, 10:16AM EST • 3 min read Quick Take Galaxy Digital agrees to purchase GK8 from Celsius for ~$44.0mm Required escrow deposit of ~$5.4mm from November 3, 2022 agreement Celsius KERP a...
Carvana shares tank as bankruptcy concerns grow for used car retailer
Ernest Garcia III, CEO of Carvana, speaks to CNBC on the floor of the New York Stock Exchange, March 7, 2019. Brendan McDermid | Reuters Shares of Carvana plummeted by more than 40% in Wednesday morni...
Betting platform names candidates for next big crypto bankruptcy in 2023
As the financial year 2022 comes to a close, some big names in the crypto industry have involuntarily bowed out of the markets. Following FTX’s unexpected fall, a betting site, Vegas Odds, has introdu...
Judge signs off on subpoenas to 3AC’s Su Zhu and Kyle Davies
A federal bankruptcy judge approved subpoenas for the founders of Three Arrows Capital, a Singapore-based crypto hedge fund that went belly up earlier this year. The subpoenas call on the 3AC f...
Sam Bankman-Fried’s Robinhood stake is tied up in FTX bankruptcy proceedings, CEO Tenev says
Robinhood Markets, Inc. CEO and co-founder Vlad Tenev and co-founder Baiju Bhatt pose with Robinhood signage on Wall Street after the company’s IPO in New York City, U.S., July 29, 2021. Andrew ...
Alameda’s Trabucco allegedly acquired luxury property before bankruptcy
A property worth $8.7 million that reportedly belongs to Sam Trabucco, ex-Alameda Research CEO, has been unveiled. Allegedly, Trabucco bought the million-dollar property right before his company colla...
3AC Liquidators File $30M Claim for ‘Much Wow’ Super Yacht
Liquidators appointed to oversee Three Arrows Capital’s bankruptcy said the crypto hedge fund’s co-founders Su Zhu and Kyle Davies are still not cooperating for information, forcing them to investigat...
Bernie Madoff’s Lawyer to FTX’s Bankman-Fried: “Shut Up!”
Sam Bankman-Fried wants to pass for a tragic hero. A few days ago, the founder of the bankrupt cryptocurrency exchange FTX launched a media blitzkrieg, meant to give his version that his empire’...
Novogratz’s Galaxy Digital to acquire Celsius’ GK8 in bankruptcy garage sale
Mike Novogratz-led investment firm Galaxy Digital Holdings has won the bidding to buy GK8, an institutional digital asset self-custody platform owned by Celsius Network — pending court approvals and c...
Celsius Clients Now Moving for Further Bankruptcy Process
In a recent interview with CNBC on December 03, 2022, A former director at Celsius told that the company’s failure to match its assets and liabilities contributed to the hole in its balance sheet. The...
BlockFi’s Bankruptcy Update, Along with Expert Statements
After the FTX collapse, the most recent collapse of the crypto firm was BlockFi. The crypto lender filed for Chapter 11 bankruptcy on November 28, 2022. The firm blamed for its bankruptcy filing on th...
SBF says he ‘can only speculate’ about where wired Alameda funds ended up: WSJ
FTX founder and former CEO Sam Bankman-Fried “can only speculate” about what happened to billions in funds after FTX customers wired them to its sister trading firm Alameda Research, he to...
Sam Bankman-Fried ‘Wasn’t Even Trying’ to Manage Risk at FTX, He Says
FTX founder Sam Bankman-Fried said he made no effort to manage risk at the digital-asset exchange that filed for bankruptcy in November, part of a blitz of public statements about major oversight fail...