In legal documents filed Sunday, Voyager representatives described a proposal by crypto exchange FTX and sister firm Alameda to offer liquidity to Voyager’s beleaguered customers as “misle...
Tag: Bankruptcy
Crypto: A Bernie Madoff-Style Scheme May Have Crushed Prominent Lenders
An unprecedented crisis of confidence has affected the crypto industry for several months. To measure it, just consider the prices of cryptocurrencies, which are often attached to a platform or a pro...
Three Arrows Capital Founders Speak After Filing Bankruptcy, Exec Says the ‘Whole Situation Is Regrettable’ – Bitcoin News
This week the two co-founders of the embattled cryptocurrency hedge fund Three Arrows Capital spoke to Bloomberg about their fund crumbling at the seams. The co-founders Su Zhu and Kyle Davies did not...
Insolvency, Bankruptcy And Brutal Crashes: Lessons To Be Learnt From The Crypto Market – Coinpedia – Fintech & Cryptocurreny News Media
The global cryptocurrency market has been hit with turbulent circumstances, and the market is still striving hard to make its comeback. This instability was followed by a liquidity crisis, unemploymen...
Celsius Users Will Have Option To Get Cash at a Discount or ‘Remain Long’ on Crypto: Bankruptcy Management Firm
The embattled crypto brokerage Celsius Network (CEL) is outlining steps it will take to repay its customers. In a first-day presentation to the United States Bankruptcy Court for Southern District of ...
Celsius Case Experts Yet to Understand Cryptos Ruling Under US Bankruptcy Code
Celsius Network’s repayment options to creditors suggest either accepting “cash at a discount” or remaining long-term crypto holders, but this is yet to be decided as the crypto lend...
Celsius first-day bankruptcy proceedings address the interim before a reorganization
Crypto lender Celsius’s Chapter 11 bankruptcy proceedings are officially underway as counsel argued for a number of interim motions during first-day proceedings. Chapter 11 proceedings allow a b...
Celsius reveals $1.2 billion hole and floats bitcoin mining fix during first day of bankruptcy trial
Embattled crypto lender Celsius Network played up the value of its bitcoin mining business in a first day hearing for its bankruptcy proceedings in a New York court on Monday. Celsius revealed in a pr...
Celsius Had Serious Internal Issues Years Before Bankruptcy, Ex-Executives Say
Former Celsius senior executives have revealed the crypto lending company had been struggling internally for years before going bankrupt, contrary to the firm’s claims that its problems stemmed from t...
Celsius Had Internal Issues Years Ahead of Bankruptcy, Former Employees Reveal
According to former employees of Celsius and internal documents reviewed by CNBC, the cryptocurrency lending company had internal issues years ahead of its bankruptcy filing. Celsius Allegedly Had Int...
Stake in Crypto Exchange Deribit Becomes Disputed Asset in Three Arrows Bankruptcy
“Genesis is aware that Three Arrows directly or indirectly owns the Deribit shares and the StarkWare shares, which could be sold to pay part of an eventual award against Three Arrows, but in lig...
Who Will Take Worst Hit After Celsius Bankruptcy Filings?
No Result View All Result © Copyright 2022. The Coin Republic Are you sure want to unlock this post? Unlock left : 0 Yes No Are you sure want to cancel subscription? Yes No Source: https://www.thecoin...
Former employees say issues plagued crypto company Celsius years before bankruptcy
Problems at Celsius appear to have been simmering for years before the crypto lender filed for bankruptcy. The crypto company saw a range of internal missteps leading up to its recent turmoil, accordi...
New Three Arrows Capital bankruptcy filing sheds light on the crypto hedge fund’s epic demise
Kyle Davies and Zhu Su, the founders of Three Arrows Capital (3AC), are nowhere to be found, but the size of their firm’s gargantuan debt obligations have come into clearer view. The crypto hedge fund...
Kyle Davies’ wife and Su Zhu are both creditors in the 3AC bankruptcy
Three Arrows Capital (3AC) co-founder Su Zhu and the wife of co-founder Kyle Davies are both among creditors that lent money to the collapsed hedge fund. Zhu lent the firm just over $5 million accord...
Crypto market cap regains $1 trillion ahead of Ethereum merge, bankruptcy proceedings
For the first time in five weeks, the total market capitalization for crypto assets climbed above $1 trillion on Monday. The relative milestone comes as three key crypto bankruptcy proceedings get und...
Celsius Network Defends Bitcoin Mining Plans Amid Bankruptcy
The renowned crypto lender Celsius Network defends its Bitcoin mining plans amid bankruptcy concerns. The New Jersey-based venture gained approval from Martin Glenn, a US Bankruptcy Judge, to spend 3....
Celsius has finally filed for bankruptcy: Law Decoded, July 18-25
Reducing your initial debt of $820 million to just $0.013 over a month can’t be easy. And, it’s hardly surprising that such a heroic dash has led Celsius to bankruptcy. Last week, the crypto lending p...
After Declaring Bankruptcy, Celsius Network Discloses Its Restructuring Plan! – Coinpedia – Fintech & Cryptocurreny News Media
On July 13, exactly one month after halting withdrawals and transfers from accounts, cryptocurrency lender Celsius Network filed for bankruptcy. Judge Martin Glenn of the U.S. Bankruptcy Court for the...
Celsius Bankruptcy Filings Hint Retail Customers Will Bear Brunt of Its Failure
Liquidity-strapped crypto lender Celsius Network filed for Chapter 11 bankruptcy protection in the Southern District of New York on Wednesday, more than a month after it halted customer withdrawals be...
Celsius Unveils Recovery Plans in Bankruptcy Hearing
Key Takeaways Celsius’ first bankruptcy hearing was held on Monday. In the hearing and a related document, the firm detailed plans that will allow customers to recover their balances. Celsius su...
Bankruptcy lawyers believe Celsius customers may have to wait years for settlement
Lawyers commenting on Celsius’s recent bankruptcy filing told Reuters that users could face a long, drawn-out process in the path to recover their funds. “Customers should now buckle up for a bumpy ri...
Here’s How The Celsius Bankruptcy Has Impacted Bitcoin Mining – Coinpedia – Fintech & Cryptocurreny News Media
The Celsius network’s bankruptcy has imbalanced the whole crypto market, including the mining sector. On Wednesday, Celsius’s mining sector filed for creditor protection. As per the filing, the compan...
Voyager Asks Bankruptcy Court To Honor Withdrawals
Voyager Digital has asked a government liquidation court to respect more than $350 million in client withdrawals from Metropolitan Commercial Bank The crypto specialist likewise is looking for consent...
Celsius’ Bankruptcy Is Unsurprising, Says Tezos Co-Founder
Kathleen Breitman, the co-founder of decentralized layer 1 blockchain Tezos, said the bankruptcy filing of troubled crypto lender Celsius Network is not surprising because such business models are sus...
Celsius Bankruptcy Could Compound Bitcoin Mining Woes
Celsius Network filing for bankruptcy could spell more troubles for the crypto mining sector, especially if it decides to sell its own mining unit. Celsius’ mining subsidiary also filed for Chapter 11...
3AC liquidators petition Singapore court to recognize BVI proceedings: Straits Times
Three Arrows Capital’s (3AC) liquidators are in the process of asking the Singapore legal system to recognize its British Virgin Islands (BVI) liquidation proceedings, according to a report toda...
Celsius Bankruptcy Filing Shows $1.2 Billion Hole in Its Balance Sheet
The Celsius Chapter 11 bankruptcy filing confirms its liabilities outweigh its assets by $1.2 billion. The filing shows that the company owes clients and creditors $5.5 billion. But its assets, even a...
Why VGX surged by 100% despite Voyager’s claims of bankruptcy
In the last few days, VGX, the native token of the troubled crypto brokerage company, Voyager Digital, took on an upward price rally. Surging by over 100% this week, the price uptick came about due to...
Why did Celsius Crypto File for Bankruptcy? Here’s What Happened
Crypto lending platform Celsius filed for bankruptcy yesterday. The New York-based company went bankrupt under US insolvency law. The assets and liabilities of the company are said to be between 1 and...
Celsius is Filing for Chapter 11 Bankruptcy ‘imminently’
One of the most popular crypto lending platforms, Celsius has reportedly filed for chapter 11 bankruptcy protection. In such form of bankruptcy, the debtor remains “in possession”, has the powers and ...
Celsius bankruptcy documents claim $1.2 billion balance sheet gap
Beleaguered crypto lender Celsius has claimed a $1.2 billion hole in its balance sheet, according to new documents filed as part of its newly declared Chapter 11 bankruptcy in New York. Chapter 11 ban...