Beleaguered crypto lender Hodlnaut is facing possible liquidation after the firm’s creditors reject the company’s proposed restructuring plan. Creditors are instead seeking liquidation of the lender’s...
Tag: Creditors
Crypto Lender Genesis Owes Creditors Over $3B: FT
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Hodlnaut’s Creditors Prefer Liquidation Than Restructuring Plan (Report)
Some creditors of the distressed cryptocurrency lender – Hodlnaut – are reportedly not fond of the proposed restructuring plan that could enable the company’s directors to stay at the helm. Instead, t...
DCG Looking to Sell Off Some Assets as Genesis Owes Creditors Over $3B: Report
Digital Currency Group (DCG), the parent company of wholly-owned subsidiary, crypto brokerage firm Genesis, is reportedly looking to offload some of its venture capital portfolios to raise funds to co...
More Genesis creditors say crypto lender duped them
A second group of Genesis creditors says they were misled by the lender into thinking that their money would be safe, and are now out hundreds of millions of dollars. The group is made up of individua...
3AC’s Kyle Davies claims creditors ‘frustrated’ with bankruptcy process
Three Arrows Capital’s co-founder Kyle Davies claimed that the firm’s creditors are “frustrated” with the ongoing bankruptcy process. They complained about high costs, de...
BlockFi creditors seek to keep personal details secret
Fearing identity theft or becoming the target of hackers, creditors in the BlockFi bankruptcy proceedings have requested that their personal information remain secret. However, U.S. Department o...
Bankruptcy Filing Reveals Tom Brady, Kevin O’Leary, and Coinbase Among Major FTX Creditors
Football star Tom Brady, companies under the control of New England Patriots Robert Kraft, and crypto firms Blackrock, Coinbase, Lightspeed Venture Partners, Pantera Ventures, and Tezos Foundation are...
Mt Gox Creditors Get A New Timeline For Repayments
A notification from the creditors states that the due date for the first instalment of repayments from Mt. Gox has been changed from July 31 to September 30, a delay of two months. The start date for ...
New Deadline For Repayments Registration Revealed For Mt. Gox Creditors
58 mins ago | 2 mins read Exchange News Payments will now begin on March 10th, two months later than originally planned. Mark Karpeles announced the deadline extension in a Telegram chat message. The ...
Mt. Gox Creditors Close to the End as Others Just Begin
Mt. Gox’s trustee Nobuaki Kobayashi will extend the registration deadline for rehabilitation creditors to March 10, 2023, to bringing more creditors one step closer to wholeness. Following a court rul...
Latest Headache for FTX Creditors: DOJ Seizes Robinhood Stock Tied to SBF
A three-way fight between the FTX’s bankruptcy saga’s most influential players has been put on hold. US prosecutors on Wednesday moved to take custody of roughly 56 million Robinhood shar...
Nexo says Vauld CEO doesn’t have ‘best interest’ of creditors in mind
A dramatic tussle between rival crypto lenders Vauld and Nexo escalated on Thursday, with the two companies throwing barbs over a proposed acquisition. Shortly after The Block reported that Vaul...
BlackRock among bankrupt miner Core Scientific’s creditors
Investment firm BlackRock is among the largest creditors of bitcoin miner Core Scientific, which filed for Chapter 11 bankruptcy last week. Its subsidiaries committed $17 million of the new $75 ...
FTX creditors ask for names and info to be redacted from court filings
Several former FTX customers have asked for their names removed from court filings, according to a Wall Street Journal report on Dec. 29. In a legal filing from the day prior, customers requested a co...
FTX Lawsuit Says Burned Users ‘Should Not Have to Stand in Line’ With Other Creditors
A consortium of FTX customers has filed a class action lawsuit against the failed exchange, seeking confirmation that the company’s crypto holdings belong to customers. The filing said that “customer ...
Nexo writes open letter to Vauld’s creditors, presents final proposal
Shortly after Vauld founder and CEO Darshan Bathija sent an email to the firm’s creditors yesterday saying that the potential Nexo deal has been called off, Nexo sent an open letter to VauldR...
56 Million HOOD Stocks to Get Liquidated as FTX Creditors Circle
Sam Bankman-Fried, BlockFi, and other creditors try to claim ownership over the 56 million HOOD stock. FTX urges the court to freeze the assets. The Robinhood (HOOD) price may further plummet as multi...
FTX Attempts to Freeze Robinhood Shares as Creditors Swarm to Scoop $450M in HOOD Stock – Bitcoin News
Court filings show that debtors from FTX Trading Ltd. and Alameda Research want 56 million shares of Robinhood stock frozen after multiple creditors are seeking access to the funds, and also Sam Bankm...
FTX Creditors Hire Law Firm Paul Hastings as Representation
“They can be contacted,” said Sarkessian, a U.S Department of Justice (DoJ) official charged with overseeing bankruptcy cases, of the lawyers that were yet to be appointed. “They do ...
FTX creditors tap Paul Hastings LLP for representation: reports
FTX creditors will be represented by Paul Hastings LLP in the crypto exchange’s high-profile bankruptcy proceedings. Paul Hastings was chosen from a pool of candidates by a nine-member com...
Top 50 FTX creditors only account for $114M of unsecured claims out of billions lost
Tthe largest unsecured claim in the FTX bankruptcy case amounts to $36.2 million and none of the top 50 creditors are considered “insiders.” The total sum allegedly owed to the top 50 creditors is rou...
FTX Creditors May Potentially Recover 10% to 40% Funds: Jeffries
FTX investors may see some recovery in their affected fund. Crypto companies like BlockFi, Sequoia Capital, Galaxy Digital and more were affected in the event. The FTX group filed for bankruptcy Chapt...
FTX Creditors Could Recover up to 40% of Their Funds, Says Jefferies (Report)
The global investment banking firm – Jefferies Group – reportedly determined FTX creditors could retrieve as much as 40% of their lost money. In an interview for The Block, Joseph Femenia – Global Hea...
Gemini Forms Creditors Committee With Houlihan Lokey to Resolve Genesis Liquidity Issues – Bitcoin News
Roughly two weeks ago a report from the Financial Times (FT) claimed Genesis Global Capital owed $900 million to Gemini customers and the publication’s sources noted that the exchange was attempting t...
What to expect from FTX’s second bankruptcy hearing today; LedgerX sale, doxing creditors, custody of funds
It has been a long week for the FTX empire as its founder Sam Bankman-Fried was imprisoned in the Bahamas and set to face trial in the United States for money laundering and wired fraud charges from t...
FTX bankruptcy case inches closer to potentially naming creditors
Lawyers for beleaguered crypto exchange FTX did not object to media arguing in the firm’s bankruptcy case, taking a step toward potentially identifying customers tied up in the collapse. Media o...
Jefferies sees recovery rate of up to 40% for FTX creditors: Exclusive
New York-based investment bank Jefferies Financial Group estimates FTX creditors could get as much as 40% of their money. However, that recovery rate would likely be lower once bankruptcy administrato...
US DOJ Appoints Creditor’s Committee, SBF Files New Bail Request
The US Dept. of Justice’s Office of the US Trustee has appointed a Committee of Unsecured Creditors to represent FTX account holders and other creditors in the bankruptcy case of the collapsed crypto ...
US DoJ names Genesis in FTX creditors committee
Crypto lending platform Genesis, along with popular crypto market maker Wintermute and others, will form the FTX creditors committee. Genesis and other FTX victims form the bankruptcy committee A cour...
The Madoff Playbook: How FTX Creditors Could Get Their Money Back
As there is much to be unraveled about the crash of FTX, a pressing question for the crypto exchange’s creditors remains how and when they could get back lost funds. Some have compared FTX founder Sam...
Committee to represent creditors formed in FTX bankruptcy case
A committee to represent unsecured creditors and serve as the voice for most FTX customers in court was established in the U.S. bankruptcy case of FTX and its affiliated companies. The formation...