Amid the ongoing bankruptcy hearing, the now-collapsed crypto lender Celsius Network has unveiled a plan to exit the process by rebranding it into a publicly traded recovery corporation. Celsius lawye...
Tag: Bankruptcy
Will Genesis Bankruptcy Transform Crypto Lending Business?
Genesis Global Capital, one of the industry’s leading crypto lenders, filed for bankruptcy protection on January 19, 2023. Digital Currency Group wholly owns the Crypto lending firm. The crypto lende...
Is Genesis Bankruptcy Troubling GrayScale?
Grayscale is one of the world’s largest crypto Assets managers and is headquartered in the United States. The digitally-native company is owned by Digital Currency Group(DCG), the parent company also ...
What the FTX creditor matrix does — and doesn’t — tell us about the exchange’s bankruptcy
FTX filed a massive creditor matrix in bankruptcy court this week, naming law firms, luxury restaurants, media outlets and state government agencies as creditors that may be owed money by the troubled...
FTX lawyers to reap millions from the bankruptcy case: Report
According to a new report, the controversial law firm Sullivan & Cromwell is on track to reap a fortune from its work on the FTX cryptocurrency exchange’s bankruptcy case. Sullivan & Cromwell’...
FTX lawyers to make millions from bankruptcy case
FTX’s legal team is poised to reap millions from the ongoing FTX bankruptcy case. With the trial set to take place in October 2023, the team has under eight months to sort out the issue. The process i...
Big funding rounds, layoffs and FTX developments
The past week saw an interesting set of big funding announcements, although the overall market sentiment remains bearish. Several companies announced job cuts as they struggled to stay afloat with the...
BlockFi permitted to pay $10M in staff bonuses in spite of bankruptcy
Bankrupt crypto lending firm BlockFi has been granted court permission to pay nearly $10 million in staff bonuses, according to a filing dated Jan. 27. The filing does not use the word “bonus” itself....
Prosecutor seek to restrict Bankman-Fried’s bail terms after apparent attempts to influence witnesses
U.S. Attorneys want to restrict FTX founder and ex-CEO Sam Bankman-Fried’s access to encrypted messaging services and bar communication with former FTX and Alameda employees, after prosecutors suggest...
Will Grayscale Follow the Genesis Bankruptcy Path?
Grayscale is one of the largest digital asset managers in the world. Grayscale is owned by Digital Currency Group(DCG), which also manages the operation of crypto lender Genesis, which recently filed ...
Bed Bath & Beyond makes desperate move while teetering toward bankruptcy: Source
Bed Bath & Beyond is cleaving off an arm in an effort to conserve cash in what could be its final hours. A source told Yahoo Finance the company informed workers on Thursday that all of its Harmon...
This retailer stands to benefit from Bed Bath & Beyond bankruptcy
Bed Bath & Beyond Inc (NASDAQ: BBBY), on Friday, confirmed that it doesn’t have sufficient funds to repay its debt. Shares are still slightly in the green this morning. BBBY is considering bankrup...
Bankruptcy judge approves BlockFi’s employee retention program
A New Jersey bankruptcy court judge has approved BlockFi’s request to offer bonuses to top staff. “It offers the debtor and the employee an opportunity to move forward and maximize the estate,” ...
SBF family, associates refuse to cooperate in FTX bankruptcy case as arrest details emerge
Associates and family members of Sam Bankman-Fried are refusing to cooperate in FTX’s bankruptcy case, according to a court filing dated Jan. 25. SBF associates not cooperating Following its collapse ...
What’s next for Bed Bath & Beyond after defaulting on its loans?
Troubled home-goods retailer Bed Bath & Beyond Inc. disclosed in a filing Thursday that it was in default on loans that have been called in, sending its stock plunging. The filing comes just three...
Bed Bath & Beyond Defaults On Credit Line And Can’t Afford To Pay Back Debt—As Bankruptcy Threat Looms
Topline Bed, Bath and Beyond defaulted on its debt earlier this month and has determined it cannot repay some of its lenders, the company revealed in a filing Thursday afternoon, bringing the once-ico...
Bed, Bath & Beyond discloses loan defaults, weighs bankruptcy
Bed Bath & Beyond (BBBY) stock cratered Thursday after the embattled retailer revealed in a new regulatory filing it was hit with a default notice from JPMorgan and does not have adequate funds to...
Bed Bath & Beyond Says Banks Have Cut Off Its Credit Lines
Bed Bath & Beyond Inc. said it doesn’t have the funds to repay its banks after they determined the retailer has defaulted on its credit lines. The home-goods chain said Thursday it received a noti...
FTX Creditor Records Airlines, Charities, and Tech Companies Indulged in Bankruptcy
An entire list of creditors who have taken money from the collapsed exchange platform FTX has been issued; disclosing a multitude of firms and government bodies indulged in its bankruptcy. On January...
FTX debtors, Bahamian liquidators object to U.S. Trustee’s examiner request
Allowing an examiner to investigate the FTX bankruptcy would “come at an enormous cost” and “provide no benefit” to creditors, lawyers for the troubled crypto exchange said in a court filing. T...
Embattled Crypto Broker Genesis Aiming To Come Back From Bankruptcy in Coming Months: Report
Troubled crypto lender Genesis is reportedly confident that it could emerge from its bankruptcy proceedings in just a few months. According to a new report by Reuters, Sean O’Neal, an attorney for Gen...
Bitcoin.com CEO Roger Ver says he has funds to pay almost $21 million to Genesis
Bitcoin.com CEO Roger Ver, also known as “bitcoin Jesus,” says he has enough funds to pay Genesis after its affiliate GGC International Limited said he failed to settle nearly $21 million in cry...
Digital Surge Crypto Exchange Survives Bankruptcy After FTX Blow
Creditors have approved the rescue plan of Australian company Digital Surge, preventing the crypto platform from going out of business. Reports noted that founders Josh Lehman and Daniel Rutter propos...
BlockFi has no ‘secret financials’ after filings show $1.2b exposure to FTX, Alameda
Failed crypto lender BlockFi says it “disclosed accurate information” to a New Jersey bankruptcy court after an unredacted court filing showed the firm has a $1.2 billion exposure to troubled exchange...
Celsius Floats Plan to Exit Bankruptcy by Issuing New Token
A lot has happened during the Celsius bankruptcy case since the platform originally went under back in July. Between accusations of fraud, arguments that customers (or unsecured creditors, according t...
Celsius Plans to Pay Creditors with a Bankruptcy Crypto Token
Celsius may issue a Bankruptcy Crypto Token to overcome its problems. Bloomberg reports that the bankrupt cryptocurrency lending platform Celsius Network LLC is proposing a way out of its current circ...
Genesis Bankruptcy Lawyers Expect Rapid Exit After First Hearing
Speaking at the company’s first bankruptcy hearing, Genesis Holdco LLC‘s lawyer Sean O’Neal said the crypto lender can exit bankruptcy by the second week of May 2023. On Jan. 24, 2023, O’Neal said he ...
Genesis Lawyers Hopeful Of Swift Resolution In Bankruptcy Process
Join Our Telegram channel to stay up to date on breaking news coverage Genesis Global Capital has been the latest casualty of the effects of the crypto bear market. The crypto lender recently filed fo...
BlockFi Desperate To Cling To Experts As Bankruptcy Process Rumbles On
Join Our Telegram channel to stay up to date on breaking news coverage BlockFi is planning to retain as much talent as possible even as the lender continues with the bankruptcy process. The Chief Peop...