The days of FTX.com are numbered. The cryptocurrency exchange platform could experience a sad and humiliating fate in the coming hours: filing for Chapter 11 bankruptcy. The company finds itself with...
Tag: Bankruptcy
FTX Affirms $8B Need To Avert Bankruptcy
The cancellation of the Binance-FTX deal sent the Bitcoin and crypto markets tumbling lower yesterday. When the statement was released late Wednesday afternoon that Binance was pulling out of the tent...
Sequoia says its investment in FTX is now worthless
Sequoia Capital, a leading venture capital firm, said in a letter to its limited partners that it has marked down the value of all its investments in FTX to zero. The letter, sent today by th...
Justice Department joins SEC in FTX probe: WSJ
For collapsed cryptocurrency exchange FTX, legal troubles are mounting. The Department of Justice (DoJ) and the Securities and Exchange Commission (SEC) are working together to investigate FTX’s...
FTX tells investors bankruptcy is likely without fresh cash: Bloomberg
FTX founder and CEO Sam Bankman-Fried told investors that the crypto exchange would need to file for bankruptcy without a cash injection, Bloomberg News reported, citing a person with direct knowledge...
FTX Bankruptcy Rumors Crash Markets- Top 3 Coins to Buy Pronto
Join Our Telegram channel to stay up to date on breaking news coverage Over the past couple of weeks, there have been rumours about FTX facing potential bankruptcy, which was initially slammed by comp...
India-Focused Payments Company Ebix Races to Raise Cash Against Debt Deadline
Payments and software company Ebix Inc. is seeking to raise cash to pay back some $600 million in debt due early next year, but time is running short as it awaits regulatory approval for a public offe...
Bankruptcy top of mind as miners confront market downturn
Bitcoin miners take center stage on the earnings calendar next week, but bankruptcy is what is weighing on the minds of investors and analysts alike. That’s what happens when one of the highest...
Summarizing the Denial of Celsius’ Key Employee Retention Program Motion
November 3, 2022, 11:18AM EDT • 2 min read Quick Take New York judge denies troubled crypto lender Celsius’s KERP Motion Celsius also filed a motion to seal and redact key details of the KERP These co...
Compute North paid top execs roughly $3M benefits before filing for bankruptcy
Bankrupt Bitcoin (BTC) mining data center operator Compute North paid its top executives over $3 million in benefits before filing for bankruptcy on Sept. 22, according to an Oct. 28 court filing. The...
Bitcoin Mining Host Compute North Paid Executives $3M on the Day It Declared Bankruptcy
The company paid co-founder and former CEO Dave Perrill $613,000 for payroll and benefits, according to the filing. Former Chief Financial Officer Tad Piper got $541,000 three months after he left the...
Core Scientific may consider bankruptcy following uncertain financial condition: Report
Bitcoin mining firm Core Scientific is reportedly considering a potential bankruptcy amid a group of its convertible bondholders consulting restructuring lawyers. According to a Nov. 1 report from Blo...
Bankruptcy Judge Denies Celsius’ Motion to Pay Employees $3M in Retention Bonuses – At Least Temporarily
During Tuesday’s three-hour hearing, the judge did not seem to take issue with the contents of the KERP itself (which has also been approved by the unsecured creditors’ committee), but was bewildered ...
Bitcoin Mining Firm Core Scientific Stock Plunges Amid Bankruptcy Rumors
The crypto winter that began in early 2022 has resulted in several financial issues, including Bitcoin mining firms. Many crypto firms have struggled, while others had to close shop. The crypto commun...
Coinbase CEO Brian Armstrong said “ NO Risk Of Bankruptcy”
Bitcoin and Ethereum are down more that 50% from their all time high in late 2021 On wednesday crypto exchange giant coinbase said that it had no financial exposure to crypto firm Celcius Network ...
Core Scientific Shares demoted as SEC Filing Hints at Probable Bankruptcy
Core Scientific looks like it is inclining towards filing bankruptcy. Core Scientific also explains that it will not be capable of doing loan payments for the month October and in the beginning of Nov...
Core Scientific Shares Downgraded After SEC Filing Hints at Possible Bankruptcy – Coinotizia
One of the largest publicly listed bitcoin miners, Core Scientific, has shaken investors with a recent filing with the U.S. Securities and Exchange Commission that raises the possibility the company m...
Core Scientific Shares Downgraded After SEC Filing Hints at Possible Bankruptcy – Mining Bitcoin News
One of the largest publicly listed bitcoin miners, Core Scientific, has shaken investors with a recent filing with the U.S. Securities and Exchange Commission that raises the possibility the company m...
Core Scientific Faces Bankruptcy With Over 78% collapse in Share Value
Prominent Bitcoin (BTC) mining firm Core Scientific has revealed in a court filing that it is contemplating bankruptcy as a possible solution since it is unlikely to be unable to pay its debts shortly...
Celsius bankruptcy case trustee slams $3M employee bonus motion
The United States trustee overseeing the Celsius Chapter 11 bankruptcy case, William Harrington, has objected to a Celsius motion that would see 62 of its 275 employees paid a retention bonus totaling...
Celsius Bankruptcy Case Trustee Criticizes $2.96M Bonus Scheme
8 seconds ago | 2 mins read Defi News In its Oct. 27 supporting statement for the objection, the trustee harshly criticized Celsius. Paying executives more in anticipation of a reorganization may seem...
Will A Bankruptcy Of Bitcoin Miner CORZ Impact The Price?
The largest publicly traded Bitcoin miner in the U.S. by hash rate and mining fleet, Core Scientific (CORZ), issued a bankruptcy warning in a filing with the SEC on Oct. 26. Shortly thereafter, the st...
Amidst 97% Decline in Its Stock, Bitcoin Miner Core Scientific Issues Bankruptcy Warning – crypto.news
Core scientific, one of the foremost crypto-traded mining companies in the US, announced during its press conference that it might likely go bankrupt due to the vast 97% decline in its bitcoin shares....
Celsius Creditors Should Add All Claims on POC Form, Bankruptcy Expert Says – crypto.news
In a recent tweet, David Adler, a Bankruptcy asset recovery expert and lawyer, mentioned that Celsius investors should remember to add all their different claims on the proof of claim form. Instead of...
Bitcoin Mining Giant Core Scientific on the Brink of Bankruptcy
Bitcoin mining giant Core Scientific in a filing with US Securities and Exchange Commission informed that they are halting all debt payments. A leader in blockchain infrastructure – Core Scientific, s...
Bitcoin Mining Firm Core Scientific Likely to File For Bankruptcy
59 seconds ago | 2 mins read Bitcoin News Nasdaq-traded shares of the company dropped by 70% immediately after the news broke. The miner said Celsius’s refusal to pay was costing it almost $53,000 per...
Large Bitcoin Miner Core Scientific Could File for Bankruptcy
One of the largest bitcoin miners – Core Scientific – could run out of cash by the end of 2022, which could prompt it to file for bankruptcy. The firm’s shares took a major punch following the news. C...
Bitcoin Miner Core Scientific On Verge of Bankruptcy
One of the world’s largest Bitcoin miners Core Scientific has raised a red flag that it could be running out of cash by the year-end and will eventually declare bankruptcy. With the sharp drop in the ...
Core Scientific Stock Price Plummets 70% as It Considers Bankruptcy
Core Scientific’s existing cash resources will be depleted by the end of 2022 or sooner, according to a company filing Research analysts expect the miner’s creditors could agree to restructure the deb...
Celsius Gets Green Light from Bankruptcy Judge for Bidding Plans
Celsius Network has received a green light from a federal bankruptcy judge bidding procedure plans. The next step will include setting up a motion schedule to see the crypto lender‘s assets sold...
Celsius users concerned over personal info revealed in bankruptcy case
Crypto lending platform Celsius filed for Chapter 11 bankruptcy on July 13, 2022. Although the Celsius case involves digital assets, it remains subject to United States Bankruptcy Code under the Bankr...
‘My girlfriend owes $200,000 in medical and credit-card debt’: She wants me to settle it — by paying a portion of the outstanding amount
Dear Quentin, My girlfriend owes over $200,000 in medical and credit-card debt, but she believes it can be settled for 5% of the total amount if someone else will pay that. She reasons that her credit...