The Celsius official committee of unsecured creditors plans to file a complaint against Celsius executives on fraud, misconduct, mismanagement of funds, and other allegations. The committee blames the...
Tag: Creditors
Celsius Creditors Sue Mashinsky, Other Executives
Key Takeaways Celsius creditors have filed a lawsuit against Alex Mashinsky and other Celsius executives. They seek to recover the millions that executives allegedly cashed out while before the compan...
Bankrupt Genesis Unveils Plan to Pay Back Creditors
Bankrupt crypto broker Genesis has filed details on how it will pay back its creditors. A Friday filing shows that Digital Currency Group (DCG) plans to turn its Genesis Global Trading equity over to ...
Genesis Reveals Strategy to Repay Creditors After Declaring Bankruptcy
Bankrupt cryptocurrency broker Genesis has filed plans detailing how it will repay its creditors. According to a recent filing, the parent company of Genesis, Digital Currency Group (DCG), has agreed ...
Celsius‘ motion to extend timeline for restructuring plan faces objection from creditors
The unsecured committee of creditors and others involved in crypto lending firm Celsius’ bankruptcy case have objected to a motion from the debtors delaying a reorganization plan. In separate Feb. 8 c...
Celsius Faces ‘Looming Liquidity Cliff in June’, Says Creditors Committee
Individuals involved in Celsius’ bankruptcy case objected to a motion made by the defunct crypto lender that would extend a key deadline for the second time. Since it filed for Chapter 11 bankruptcy i...
What creditors can expect from Genesis’ bankruptcy — and what others can learn
The holding company of troubled crypto lender Genesis Global Capital, Genesis Global Holdco LLC, filed for Chapter 11 bankruptcy protection in New York on Jan. 19. Genesis is the latest crypto platfor...
Celsius’ extension request denied by US trustee and creditors as cash burn continues
Several parties have objected to bankrupt crypto lender Celsius’s motion to extend its timeline for filing a Chapter 11 restructuring plan once again. The crypto lender, which filed for Ch...
Hodlnaut Hunts for Buyer, Creditors Want Liquidation
Interim judicial managers of distressed Singapore-based crypto lender Hodlnaut have begun fielding inquiries from prospective buyers and its claims against bankrupt exchange FTX. The managers are repo...
Genesis creditor reveals new proposed restructuring plan that will see creditors getting back
According to information provided by a Genesis creditor, the most recent suggested restructuring plan between Genesis, Digital Currency Group, and creditors would result in creditors receiving at leas...
DCG and Genesis reach initial deal to restructure plan with creditors
The Digital Currency Group and Genesis have reached an initial deal with a group of the firm’s main creditors. The agreement involves selling Genesis’ bankrupt entities and refinancing outstanding lo...
Genesis creditors to expect 80% recovery under proposed restructuring plan
A Genesis creditor has revealed the new proposed restructuring plan between Genesis, Digital Currency Group and creditors will see creditors getting back at least 80% of their funds. On Feb. 6, Genes...
DGC liquidates Grayscale subsidiary shares to repay creditors
Digital Currency Group has begun liquidating stakes in crypto subsidiaries to raise funds to repay Genesis creditors. US securities filings seen by Financial Times reveal that DCG is having trouble ba...
Digital Currency Group (DCG) And Genesis Reach Initial Deal With Creditors
– Advertisement – The Digital Currency Group (DCG) and Genesis have reached an in-principle agreement with the conglomerate’s main creditors. The deal involves the sale of bankrupt Genesi...
DCG Creditors Bail Genesis Out of Possible Bankruptcy
Digital Currency Group (DCG) appears to have avoided possible bankruptcy as its sister firms, and Genesis subsidiaries, have reached an agreement with creditors to avoid going under. Digital Currency ...
DCG And Genesis Close Initial Agreement With Creditors
Per a report from CoinDesk, crypto lending firm Genesis and its parent company Digital Currency Group (DCG) are moving forward with the former’s bankruptcy process. The companies reached a “principle ...
Committee Appointed to Represent Unsecured Creditors in Genesis Global bankruptcy
According to documents filed with the court on February 4, a committee consisting of seven members has been constituted to represent the interests of unsecured creditors in the bankruptcy case involvi...
Genesis unsecured creditors’ committee appointed
A seven-member committee has been appointed to represent the interests of unsecured creditors in the Genesis Global bankruptcy case, according to court filings on Feb. 4. The committee will represent...
Bankrupt Genesis unsecured creditors’ committee formed – Cryptopolitan
In recent events, a seven-member committee has been appointed to represent the interests of unsecured creditors in the Genesis Global bankruptcy case, according to court filings on Feb. 4. The committ...
Seven-member committee to represent creditors formed in Genesis Global’s bankruptcy case
A seven-member committee to represent unsecured creditors has been established in the U.S. bankruptcy case of Genesis Global. The unsecured creditor committee will serve as a voice for creditors...
Genesis creditors are starting to bail on bankrupt lender
Some Genesis creditors are deciding that it’s time to take the money and run — even if all they’re able to get is a fraction of what they paid into the bankrupt lender. Earlier this week, Stephen Soko...
Celsius creditors contemplate next steps following examiner report
Despite a damning report from a court-appointed examiner, lawyers representing former Celsius customers told clients they are still in talks with the company around a “recovery corporation”...
Court Greenlights Blockfi’s Plan To Repay Creditors With Crypto Mining Sale
BlockFi, a cryptocurrency exchange, filed for Chapter 11 bankruptcy on November 28. BlockFi was a victim of the contagion brought on by FTX’s collapse. The bankruptcy of the crypto hedge fund Three Ar...
FTX Creditors Include Apple, Netflix and Coinbase, Court Documents Reveal
Financial advisors for the bankrupt cryptocurrency exchange FTX at last revealed the complete list of the company’s institutional creditors in a court filing late Wednesday. The document shows the nam...
BlackRock, Ibex Investors Among the Creditors that Rescued Core Scientific
Core Scientific, a NASDAQ-listed Bitcoin mining company, reportedly received $500 million worth of funds from giant financiers, including BlackRock, Apollo Capital, Kensico Capital, and Ibex Investors...
FTX reveals creditors; U.S. man spends BTC on hitmen
The biggest news in the cryptoverse for Jan. 26 saw defunct crypto exchange FTX reveal its full list of creditors. Elsewhere, a Washington man has been sentenced to prison for hiring hitmen with Bitco...
FTX Creditors Includes Shadow Banks With Waning Influence
Traditional finance history and crypto industry commentary suggest that crypto will be more prone to macroeconomic factors in 2023, even as the credit contagion risks of shadow banks in FTX’s latest c...
FTX Creditors Adds Apple, Netflix, and Coinbase: Court Documents
An entire list of the 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 Jan...
Bitcoin BTC Price Flirts With $23.4K as Jerome Powell Repeats Comment About Waning Inflation; Market Weighs DCG-Genesis Deal With Creditors
Perhaps a fair question is, does the VC world want another Alameda? Although the firm closed 38 deals it wasn’t the biggest investor. That goes to Coinbase Ventures, as PitchBook puts its deal count a...