Crypto bank Silvergate may halt operations after it issued a warning last week stating it could be short of capital. Silvergate deposits drop by 42% Silvergate Capital Corp on Jan. 17 announced a stee...
Tag: Bankruptcy
Silvergate Bank to release nearly $9.9 million to BlockFi
A bankruptcy judge has ordered Silvergate Bank to release nearly $9.9 million to crypto lender BlockFi, days after the bank said it was “reevaluating its business” and could be “less than well-c...
32,000 Voyager customers may be on the hook for bankruptcy clawbacks
Ad Voyager’s former Chief Innovation Officer Shingo Lavine warned that the platform could enact customer clawbacks under Chapter 11 bankruptcy rules – potentially affecting 32,000 users. Lavine, who h...
Celsius creditors tout NovaWulf deal as ‘best’ option
Legal • March 1, 2023, 5:57PM EST The Official Committee of Unsecured Creditors in the Celsius bankruptcy case said a proposed sale to NovaWulf Digital Management is “the best” option, according to a ...
Sam Bankman-Fried’s inner circle turns on him
A third member of FTX founder Sam Bankman-Fried’s inner circle pleaded guilty to criminal charges, significantly upping the legal peril for the embattled former CEO. Former FTX Director of...
Voyager Customers Approve Bankruptcy Proposal Before Hearing
Voyager Digital tweeted on Tuesday that 98% of its credit claimants approved the lender’s Chapter 11 bankruptcy plan. Bankruptcy administration company Stretto tallied the votes, revealing 59,183 peop...
Voyager customers vote in favor of bankruptcy plan
Ad Voyager announced on March 1 that 97% of its customers have voted in favor of its bankruptcy plan, which includes selling its assets to Binance.US. The 97% of voters in favor represent roughly 98% ...
Voyager agrees to reserve $445m after suit from Alameda Research
Legal • February 27, 2023, 6:06PM EST Published 1 hour and 30 minutes earlier on Defunct crypto lender Voyager Digital agreed to reserve $445 million after the firm was sued by bankrupt trading firm A...
Warner Bros. Discovery Regional Sports Networks May File For Chapter 7 Bankruptcy
Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images. SOPA Images/LightRocket via Getty Images The steady decline of cable networks, both basic and regional sports networks, ...
Voyager transferred $154 million USDC off Coinbase this month, Arkham Intelligence says
On-chain data shows that Voyager’s assets are on the move amid the company’s bankruptcy proceeding. Around $154.4 million in USDC was transferred to the shuttered exchange’s &#...
Vauld gets yet another creditor protection extension until March 24
Published 40 minutes earlier on Asian crypto lender Vauld received a further extension to its legal protection from creditors at a Singapore High Court hearing on Monday — albeit a shorter delay than ...
BlockFi Accuses Creditors of Being ‘Divorced From Reality’
Troubled crypto lender BlockFi has temporarily halted its plan to return certain cryptocurrencies to users amid its ongoing bankruptcy proceedings. The firm is currently negotiating with creditors ove...
SBF Opposes Order To Testify In Voyager Digital Bankruptcy Hearing
Join Our Telegram channel to stay up to date on breaking news coverage What – The co-founder and former CEO of the bankrupt FTX crypto exchange, Sam Bankman-Fried (SBF), has been making multiple court...
The Rock Trading: bankruptcy in Italian style
The Rock Trading, a historic exchange in Italy, has suspended its operations: at present, users cannot trade or withdraw their funds. Officially, the website page refers to “difficulties encountered i...
3AC liquidators to sell firm’s NFTs to realize value amid bankruptcy
Nonfungible tokens (NFTs) belonging to the bankrupt hedge fund Three Arrows Capital (3AC) will be sold by its liquidators Teneo, according to a recent announcement. In a notice dated Feb. 22, joint l...
Sequoia Capital, ‘Inspector Gadget’ creator hit by FTX class-action lawsuit
Sequoia Capital, the creator of “Inspector Gadget,” Signature Bank and others linked to defunct crypto exchange FTX were slapped with a class action lawsuit this week, which alleges the defendants kne...
BlockFi embroiled in bankruptcy drama over customer wallets
While its customers have been locked out of their accounts since November, failed crypto lender BlockFi is locked in a bankruptcy court battle. The war of words is playing out on a court docket ...
Federal Trade Commission investigates Voyager’s ‘deceptive and unfair’ crypto marketing
Legal • February 22, 2023, 10:52AM EST The Federal Trade Commission is investigating crypto broker Voyager Digital, the agency said in a bankruptcy court filing. The FTC is investigating Voyager...
SBF Resists Order to Appear in Voyager Digital’s Bankruptcy Hearing
Sam Bankman-Fried (SBF), the founder and former CEO of the now-defunct cryptocurrency exchange FTX, is resisting an order to testify at the bankruptcy hearing of crypto broker Voyager Digital. On Tues...
FTX Bankruptcy Claims Sell For 16 Cents On The Dollar In Secondary Market
– Advertisement – FTX bankruptcy claims are selling for as low as 16 cents on the dollar in secondary markets. Distressed asset funds are reportedly projecting a recovery in five years. ...
BlockFi appeals to cancel bankruptcy status for SBF’s offshore investment vehicle
The consequences of the FTX scandal at the hands of its founder and former CEO, Sam “SBF” Bankman-Fried, continue to surface. On Feb. 17, it was reported that bankrupt crypto lender BlockFi has appea...
Voyager Bankruptcy: Former FTX CEO Sam Bankman-Fried Served Deposition Subpoena By Creditors
The current legal saga facing FTX former CEO Sam Bank-Friedman shows no signs of abating, with new cases weekly. The latest reports say that the FTX founder has been served a subpoena to testify at a ...
How Bed Bath & Beyond sidestepped bankruptcy… for now
Bed Bath & Beyond continues to evade bankruptcy, after implementing a series of financial moves, including raising $1 billion through preferred stocks and closing all its store locations in Canada...
FTX Investigations are Plenty, No Need for Independent Examiner, Judge Rules
An FTX bankruptcy judge has denied a motion to appoint an independent examiner. Judge John Dorsey said it would be unnecessary in comparison to other ongoing inquiries by law enforcement and FTX’s new...
FTX Bankruptcy Judge Agrees Independent Examiner Would Mean More Risk
Appointing an independent examiner in the FTX bankruptcy proceedings “would create an increased risk of further loss through inadvertent disclosures or hacking,” Judge John Dorsery said in a hearing o...
Sam Bankman-Fried is embroiled in legal drama. FTX is moving on without him.
Beleaguered crypto exchange FTX is charging ahead in bankruptcy court, preparing for high-profile clawbacks to begin at the end of the month. Meanwhile, the company’s former CEO could lose most...
BlockFi Files Motion to Dismiss Bankruptcy Case for SBF’s Emergent Fidelity
Bankrupt crypto lender BlockFi has filed a motion to dismiss the bankruptcy case for Emergent Fidelity Technologies, the holding firm owned by Sam Bankman-Fried (SBF), founder and former CEO of FTX. I...
Former FTX exec Nishad Singh plans to plead guilty to criminal charges: Bloomberg
Legal • February 17, 2023, 2:43PM EST A third former FTX executive is preparing to plead guilty to criminal charges, Bloomberg reported. Nishad Singh, the former director of engineering at FTX, ...
BlockFi files to dismiss SBF’s Emergent company bankruptcy case
Ad Bankrupt crypto lender BlockFi has asked the court to dismiss a bankruptcy case filed by Sam Bankman-Fried’s (SBF) Emergent Technology company over a tussle to control 55 million Robinhood shares. ...