Liquidators for Three Arrows Capital (3AC) will have to present further documents in order to be granted permission to subpoena the now-bankrupt crypto hedge fund’s founders through Twitter, according...
Tag: Bankruptcy
Legal team for 3AC liquidators blast founders for shifting blame to FTX, media blitz amid bankruptcy
The founders of Three Arrows Capital, or 3AC, the Singapore-based crypto hedge fund with close ties to Terra Labs, have been spending more time engaging on social media and news outlets than dealing w...
Bankruptcy Law Firms Boom as Crypto Companies Go Bust
As crypto firms continue to collapse in the wake of FTX, one group in particular has been benefitting: bankruptcy lawyers. In addition to triggering bankruptcies, such as BlockFi, the collapse of FTX ...
Galaxy Digital Wins Celsius Bankruptcy Auction to Acquire Crypto Custodian GK8
Mike Novogratz’s Galaxy Digital has won the bid to acquire GK8, a self-custody crypto firm. GK8 was first acquired by Celsius in November 2021 for $115 million. After Celsius filed for bankruptcy, the...
Sam Bankman-Fried expresses confusion on FTX US bankruptcy
SBF emphasized that FTX US shouldn’t have declared bankruptcy during the explosive New York Times Dealbook Summit interview on Wednesday. He asserted that FTX US is ‘totally solvent’ and ‘completely f...
Celsius Gets Cash Infusion From Prime Trust as Scammers Target Customers
As if a prolonged bankruptcy wasn’t enough, court documents show the story of defunct crypto lender Celsius has a new wrinkle: scammers impersonating lawyers involved in its Chapter 11 proceedings. Th...
Genesis Bankruptcy Avoidance Leads to Restructuring
Genesis Global Capital reportedly seeking the possible ways to avoid the looming potential bankruptcy. The firm got severely affected following the bankruptcy filing of Sam Bankman-Fried’s FTX. The Ba...
BlockFi’s bankruptcy is the latest blow for a bleeding Bitcoin mining industry
As if crashing crypto assets, high energy prices and increasing difficulty in mining weren’t enough, now Bitcoin miners face the fallout from BlockFi’s bankruptcy protection filing. ...
Why Galaxy Purchased Assets Auctioned In Celsius’ Bankruptcy
Crypto lender Celsius Network is undergoing the auction of its assets as part of the bankruptcy proceedings. The company was affected by the collapse of the Terra (LUNA) ecosystem and hedge fund Three...
Three Arrows Capital liquidators begin taking control of failed hedge fund’s assets
Teneo, the advisory firm overseeing the liquidation of crypto hedge fund Three Arrows Capital (3AC), has taken control of some of its assets, according to a presentation deck obtained by The Block. &#...
Crypto Firm Core Scientific Says It’s Considering Bankruptcy
Core Scientific – one of world’s biggest publicly traded crypto mining firms – has announced it is considering bankruptcy protection as its stock has fallen by over 90 percent since the beginning of t...
Alex Jones files for bankruptcy after Kanye West interview
Alex Jones arrives at the court house as he faces a second defamation trial over Sandy Hook claims in Waterbury, Connecticut, September 22, 2022. Michelle McLoughlin | Reuters Infowars host Alex Jones...
Galaxy Digital to acquire custodian GK8 from bankrupt Celsius
Galaxy Digital agreed to purchase high-security custodian GK8 from bankrupt crypto lender Celsius. Galaxy will support GK8’s self-custody solution in the ongoing development of GalaxyOne,...
Another Bankruptcy Filing in Crypto World — BlockFi Insolvency
Join Our Telegram channel to stay up to date on breaking news coverage On November 28th, cryptocurrency exchange BlockFi became the latest victim of the avalanche of failures that began with the implo...
U.S. Trustee asks bankruptcy court to appoint FTX trustee
The U.S. Trustee has asked a Delaware bankruptcy court to appoint an examiner in the ongoing FTX bankruptcy case. In a Dec. 1 court filing, the U.S. Trustee cited a “virtually unprecedente...
Sam Bankman-Fried’s still sorry, but now he says his memory isn’t great
Former FTX CEO Sam Bankman-Fried regrets how he mishandled his troubled crypto exchange, but he doesn’t quite remember all the details. The disgraced crypto mogul spoke for almost two hours abou...
Trading platform INX files purchase bid for Voyager Digital’s assets with US Bankruptcy Court
The broker-dealer and inter-dealer broker, INX in a sealed bid, expressed his intentions to purchase the voyager’s assets for an undisclosed amount. Reasons for INX’s decision Voyager Digital is one ...
Bankruptcy court told FTX and Alameda they owe BlockFi $1B
Court confirms that FTX and Alameda owe BlockFi $1 billion after chapter 11 bankruptcy protection filing. While BlockFi has attempted to separate itself from FTX and Alameda during its bankruptcy proc...
Mortgage Firm Files for Bankruptcy Amid Housing Market Deep Freeze
(Bloomberg) — Starwood Capital-backed home lender Reverse Mortgage Funding LLC filed for Chapter 11 bankruptcy, the latest company to succumb amid a rapid run-up in mortgage rates. Most Read fro...
Genesis Creditors Onboard Restructuring Lawyers, Exploring Ways to Avert Bankruptcy
For several companies in the crypto sector, 2022 marked the end of the line. A few seemingly vanished overnight. But Genesis’ creditors are making desperate calls to save the crypto brokerage from sin...
Sam Bankman-Fried’s bizarre apology tour goes prime time
Many in his position would have likely laid low, but disgraced crypto entrepreneur and one-time billionaire Sam Bankman-Fried is nothing if not unusual. In another surprising twist, Bankman-Frie...
Sam Bankman-Fried tries to defend FTX collapse, apologizes (again)
Sam Bankman-Fried just wrapped up an interview with Andrew Ross Sorkin at the New York Times DealBook Summit. The Block tuned in and kept a running tally of what he had to say. Thanks for sticking wit...
Crypto Lender BlockFi Sues Sam Bankman-Fried Company Over Robinhood Shares Following Bankruptcy Filing: Report
The bankrupt crypto lending platform BlockFi is suing Sam Bankman-Fried’s holding company to recover collateral. According to a recent complaint filed in a court in New Jersey, BlockFi says it “seeks ...
BlockFi Bankruptcy Follows FTX Implosion
SOPA Images/LightRocket via Getty Images Key takeaways On Monday, crypto lender BlockFi filed for Chapter 11 bankruptcy protections in the aftermath of FTX’s implosion Ironically, BlockFi lists FTX as...
5 Highlights From BlockFi Bankruptcy Proceedings
BlockFi’s bankruptcy last week marked the latest instance of crypto’s collapse starting to resemble TradFi’s 2008 crisis. More high-flying firms are running out of financial runway, if they have yet t...
Ripple’s Counsel Allegedly Blames SEC For BlockFi Bankruptcy
According to an official press release, BlockFi has commenced restructuring proceedings to stabilize the business and maximize value for its customers and stakeholders. The proceedings began with a vo...
The impact of Blockfi’s Bankruptcy on The Top 10 Cryptocurrencies
BlockFi, a US-based cryptocurrency lender, has applied for Chapter 11 bankruptcy protection as a result of a liquidity crisis brought on by its proximity to FTX. BlockFi did business with FTX by lendi...
BlockFi Files For Bankruptcy, Crypto Daily TV 30/11/2022
In Todays Headline TV CryptoDaily News: Crypto lender BlockFi files for bankruptcy as FTX ripple effect spreads. Cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy protection, the compa...
Bankruptcy court told FTX and Alameda owe BlockFi $1B… but it’s complicated
A lawyer for BlockFi told the first day hearing of its bankruptcy proceedings that the crypto lender has $355 million stuck on FTX and that the collapsed exchange’s sister company Alameda Research has...
FTX Collapse: Bankman-Fried Has 2 Golden Chances to Defend Himself
Sam Bankman-Fried, the fallen founder of bankrupt cryptocurrency exchange FTX, is currently one of the world’s most hated people. On social networks many are calling for him to be sent to jail ...