The crypto space witnessed the bankruptcy of some firms due to the prevailing bearish trend in 2022. Without much warning, the crypto winter swept off lots of funds as the value of most crypto assets ...
Tag: Creditor
Crypto Lender Struggles Extended Creditor Protection For Vauld
A troubled cryptocurrency lending platform known as Vauld has been given an additional term of creditor protection by a court in Singapore. Before February 28th, the business has to devise a strategy ...
Court Grants Vauld Creditor Protection Until February 28
Crypto lender Vauld gets creditor protection extension till February 28. The extension is comparatively less than the requested April 21. Singapore court provided the extension to Vauld at a hearing t...
Troubled crypto lender Vauld gets extended creditor protection
Embattled crypto lending platform Vauld was granted another period of creditor protection from a Singapore court. The company should come up with a revival plan before Feb. 28. As reported by Bloombe...
CoinFLEX could drive up creditor equity value via GTX venture — and rebrand
CoinFLEX could indirectly compensate its creditors with equity value resulting from the launch of the newly-unveiled GTX exchange, according to a Jan. 16 statement. The company made several statements...
Vauld gets creditor protection until Feb. 28 — shorter than requested
Troubled Asian crypto lender Vauld has received a further extension to its legal protection from creditors — albeit a shorter delay than requested. The company now has until Feb. 28 to explore o...
FTX creditor committee hires Paul Hastings LLP for bankruptcy proceedings: Report
After taking pitches from many law firms, the nine-member committee representing unsecured creditors of the disgraced crypto exchange FTX has decided on a legal adviser, the Wall Street Journal report...
Genesis and DCG creditor committee propose plan for asset recovery
Houlihan Lokey, an investment and financial services firm, presented a liquidity resolution plan on behalf of the creditor committee for the crypto broker Genesis and its parent company, DCG. Ge...
Can Gemini’s Creditor Committee resolve the Genesis, DCG liquidity crisis
The Gemini creditor committee presented a plan to Genesis and DCG to resolve their liquidity issues Genesis and DCG owe $900 million to Gemini Gemini, as of 21 December, provided an update to its use...
FTX Has Over $1B in Cash, Creditor Meeting Told
The company’s new management, which took over when FTX founder Sam Bankman-Fried resigned Nov. 11, told a procedural hearing on Tuesday that it had over $1 billion in assets identified. The comp...
Crypto Miner Core Scientific Sees Stock Surge 200% on Creditor Offer to Fund Insolvency
Core Scientific experienced a four-day stock surge after one of its creditors offered to pull it out of its financial mess. Core Scientific (NASDAQ: CORZ) recently experienced a 200% stock surge over ...
Bitcoin Miner Core Scientific Receives $72M Offer From Creditor to Avoid Bankruptcy
One of Core Scientific’s largest lenders – B Riley – has offered to loan out $72 million to the embattled Bitcoin miner in a bid to avoid a potentially unnecessary and value-destructive bankruptcy pro...
US Trustee names Wintermute on creditor committee in FTX bankruptcy case
A United States Trustee has announced nine creditors to the committee responsible for part of crypto exchange FTX’s bankruptcy proceedings. According to court documents filed Dec. 15, U.S. Trustee And...
Wintermute, Venture Cap Octopus Given Seats on Key FTX Creditor Committee
The committee, responsible for representing those who are hoping to be repaid at the conclusion of bankruptcy proceedings – specifically the unsecured creditors who have no claim on FTX collateral – w...
Creditor offers Bitcoin miner Core Scientific $72M to avoid bankruptcy
Financial services platform B. Riley has offered Bitcoin (BTC) miner Core Scientific $72 million in financing to avoid bankruptcy and preserve value for Core Scientific stakeholders. B. Riley, a top l...
Apollo, Pimco in Pact to Prevent Creditor Brawl Over Carvana
(Bloomberg) — Some of Carvana Co.’s largest creditors including Apollo Global Management Inc. and Pacific Investment Management Co. have signed a pact that binds them to act together in negotiat...
Gemini launches creditor committee to recover customers’ funds
Winklevoss twins have created a committee of creditors to reclaim Gemini’s funds from DCG and Genesis, who reportedly owe the exchange about $900 million. Kirkland & Ellis has been engaged as coun...
Genesis Creditor Loans Near $2B, Crypto Daily TV 6/12/2022
In Todays Headline TV CryptoDaily News: Crypto Lender Nexo To Quit United States UK-based crypto lender Nexo said on Monday it would phase out its U.S. products and services over the coming months due...
Another Genesis Creditor Group’s Loans Amount To $1.8B
The Proskauer Rose law firm has presented the number as being $1.8 billion. There is a certainty that this is not the final number. The number would increase through the ad hoc group, which is now rep...
Genesis Creditor Groups’ Loans Amount to $1.8B and Counting: Sources
The Proskauer group takes the tally to $1.8 billion, with more to come in the form of a third ad hoc group being represented by Kirkland & Ellis, the law firm representing bankrupt crypto firms Ce...
Zipmex Sees Buyout Offer of $100M as it Secures Creditor Protection: Report
Embattled cryptocurrency exchange Zipmex is all set to be acquired by V Ventures, a subsidiary of Thoresen Thai Agencies Pcl, for $100 million. The venture capital fund is reportedly offering $30 mill...
Crypto Exchange Zipmex Secures Creditor Protection Extension as Takeover Deal Nears
Bloomberg reported today that a deal involving venture capital fund V Ventures looks set to be completed in due course. On Nov. 18, Zipmex was still in “advanced talks” in terms of a rescu...
FTX Bankruptcy Hearing: Bahamas Liquidators Transfer Case to Delaware, Creditor Names Remain Redacted
The judge overseeing the bankruptcy case of fallen crypto exchange FTX today agreed to continue bankruptcy proceedings in Delaware and keep the names and addresses of the top 50 creditors—owed approxi...
FTX creditor information to remain confidential, at least for now
A federal judge granted a preliminary request to maintain the anonymity of creditors in the FTX bankruptcy case, but noted that more information on the company’s creditors could become public in...
FTX Owes Its Largest Creditor $226M; Top 50 Owed Total of About $3.1B
“The Top 50 List is based on the Debtors’ currently available creditor information, including customer information that was able to be viewed but is not otherwise accessible at this time,” the documen...
Chainalysis Confirmed as FTX Creditor in Bankruptcy Case
Analytics firm Chainalysis has announced that it is owed money in the bankruptcy proceedings for collapsed exchange FTX. In documents filed to bankruptcy court in Delaware on Wednesday, Chainalysis wa...
Zipmex files to extend creditor protection amid rescue deal reports
Crypto exchange Zipmex has filed to extend its protection against creditors until next April amid a possible rescue deal. The Singapore-based exchange briefly halted withdrawals in June amid a ...
Vauld gets creditor protection until January as court blocks longer extension
Troubled Asian crypto lender Vauld has received a further extension to its legal protection from creditors — albeit a shorter delay than requested. The company now has until Jan. 20 to explore ...
Celsius Network Shares Details of Its Creditor as it Raises Cyber Threat Concerns
Bankrupt cryptocurrency company Celsius Network has disclosed the information of its creditors in a filing recently provided in court, including names, addresses, the amount owed, and email addresses ...
Voyager creditor committee Twitter account temporarily suspended
As the Voyager auction closes its sixth day with no reported winner, the Twitter account tasked with keeping customers in the loop appears to have been suspended. The Twitter account appeared back on...
China gave tens of billions in secretive ‘emergency loans’ to vulnerable nations, emerging as world’s major creditor and IMF competitor
In recent years, China has shelled out tens of billions in opaque “emergency loans” for at-risk nations, indicating a shift to providing short-term emergency lending rather than longer-term infrastruc...