In reaction to the relieving comment by the new FTX boss to reboot the exchange, the FTT token jumped 32% to $2.37. After the sudden FTX crash that resulted in losses for many investors and made sever...
Tag: distressed
US FinCEN Links Binance To This Distressed Crypto Exchange
The ongoing investigation into the Binance crypto exchange has uncovered shocking news. U.S. law enforcement agencies have investigated the crypto exchange for allegedly not complying with sanctions a...
Distressed Crypto Firm Vauld Given New Deadline for Restructuring Plan as Customer Funds Remain Frozen: Report
Embattled crypto lender Vauld now has until February 28th to come up with a restructuring plan without getting hounded by claims from creditors. The company is initially set to submit its revival plan...
Distressed Crypto Firm Vauld Receives More Time to Present a Restructuring Plan (Report)
The Singaporean authorities have reportedly granted Vauld an extended period of creditor protection. The cryptocurrency lender has until February 28 to introduce a revival plan. Vauld is one of the w...
Bitcoin miners return energy to distressed Texas grid
In the wake of the devastating winter storm in Texas in December 2022, Bitcoin miners returned up to 1,500 megawatts of energy to the grid, enough to power over 1.5 million small homes. This impressiv...
Credit Market Cracks Widen as Distressed Debt Nears $650 Billion
(Bloomberg) — Multiple stress points are emerging in credit markets after years of excess, from banks stuck with piles of buyout debt, a pension blow-up in the UK and real-estate troubles in Chi...
Distressed Investors Drawn to FTX Claims Following Bankruptcy
Claims of customers with assets stuck on FTX following its bankruptcy have started drawing the biggest names in distressed investing. During a bankruptcy, customers with frozen assets often face a le...
Distressed Crypto Platform Amber Group Secures a $300 Million Fundraiser
Amber Group – a cryptocurrency platform backed by Singapore’s investment company Temasek – completed a $300 million funding round. The money will be distributed to clients affected by the FTX collapse...
FTX’s stranded customer funds draw attention from distressed asset investors
Credit investment firms are looking to buy claims from bankrupt crypto exchange FTX’s clients who could otherwise wait years for bankruptcy courts to decide payouts. Apollo Global Manageme...
Binance Pledges Up To $2 Billion To Bail Out Distressed Crypto Firms As FTX Contagion Spreads
Changpeng Zhao, cofounder and CEO Binance, spoke at a summit in Lisbon, Portugal in early November. Piaras Ó Mídheach/Sportsfile for Web Summit via Getty Images Binance, the world’s largest cryptocurr...
Billionaire Changpeng Zhao Exploring $1,000,000,000 Fund To Purchase Distressed Crypto Assets
Binance CEO Changpeng Zhao says he’s planning to set up a $1 billion fund to rescue distressed crypto assets. In a new interview with Bloomberg TV, the billionaire says the fund is intended to help th...
Binance To Cement Position With $1B For Distressed Assets
Binance CEO Changpeng Zhao (aka “CZ”) has been a key player in the crypto market over the past few turbulent weeks. It wasn’t until his tweet about FTX’s credibility and the announced sale of all Bina...
Binance Looking to Make Cross-Market Bids for Distressed Firms
Binance is also looking at acquiring the Genesis Trading loan book, which may come off as a major relief to the company’s parent firm, Digital Currency Group (DCG). Binance cryptocurrency trading plat...
OKX Announces $100 Million Fund to Support Distressed Projects Following FTX Crash (Report)
The Seychelles-based crypto exchange – OKX – reportedly introduced a $100 million fund to aid companies with liquidity issues. The world’s largest cryptocurrency platform – Binance – launched a simila...
Bitget Prepares 5 Million USD Builders Fund to Help Users Distressed by FTX Collapse – Press release Bitcoin News
press release PRESS RELEASE. Nov 14th, 2022 – Leading global cryptocurrency exchange Bitget announces that it has set aside a 5 Million USD worth of Builders’ Fund, aiming to help those affiliates, in...
What To Expect on Miners’ Q3 Earnings Calls As Industry Remains ‘Distressed’
A range of bitcoin miners are set to report third quarter results in the coming days as several companies in the mining sector are struggling to cope with financial pressures. Marathon Digital, Stron...
BTC miner CleanSpark scoops up thousands of miners amid ‘distressed markets’
Sustainability-focused Bitcoin (BTC) mining company CleanSpark has snapped up another 3,843 cryptocurrency miners amid a backdrop of mining industry consolidation. The $5.9 million purchase of the Ant...
Financially Distressed Core Scientific Owes $1 Billion To Creditors
Core Scientific, a major publicly traded crypto mining company in the U.S., on Friday raised the possibility of bankruptcy in a statement filed with the SEC (Securities and Exchange Commission). Block...
Growing Pile of Distressed Debt Signals Coming US Default Wave
(Bloomberg) — A heap of distressed debt is expanding in the US corporate bond market and investors worry that a burst of defaults will follow. Most Read from Bloomberg The amount of dollar-denom...
Binance Launches $500M Fund for Distressed Bitcoin Miners
Private and publicly-listed bitcoin miners can now apply for loans with Binance, as the cryptocurrency exchange launched a $500 million fund on October 14 for miners unable to cope with the ongoing do...
Marathon Digital Reports $80 Million Exposure to Distressed Data Center (Report)
The US-based bitcoin miner – Marathon Digital Holdings Inc. – reportedly has exposure of more than $80 million in one of its hosting providers – Compute North. Two weeks ago, the latter joined the lis...
‘Trading Like a Lehman Moment’ — Credit Suisse, Deutsche Bank Suffer From Distressed Valuations as the Banks’ Credit Default Insurance Nears 2008 Levels – Economics Bitcoin News
It’s been more than a decade since the financial crisis in 2007-2008 when Lehman Brothers, the fourth largest investment bank in the U.S., collapsed and filed bankruptcy. Close to 14 years later, Cred...
Crypto Mogul Wants to Buy Distressed Assets from Bitcoin Miners
Alex Dovbnya Bitdeer’s Jihan Wu wants to scoop up assets of struggling Bitcoin miners at lower prices after crypto market rout Jihan Wu of Bitmain fame is looking to buy the distressed assets of...
Chief Executive Of Distressed Crypto Lender Celsius Alex Mashinsky Resigns ⋆ ZyCrypto
Advertisement     The chief executive of bankrupt cryptocurrency lender Celsius has called it quits. Alex Mashinsky, the head of Celsius, tendered a letter of resignat...
Bitdeer Sets Up $250M Fund to Acquire Assets From Financially Distressed Bitcoin Miners – Bitcoin News
According to a representative from the bitcoin mining company backed by the Chinese crypto billionaire Jihan Wu, Bitdeer is crafting a $250 million fund to buy distressed assets from embattled bitcoin...
Ethereum Merge Could Spell Trouble for Distressed Crypto Lender Hodlnaut
Ethereum’s pending transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS) can trigger new risks for the troubled crypto lender – Hodlnaut. The Singapore-based company was one of several firms in ...
Distressed Crypto Platform Zipmex to Resume Some BTC and ETH Withdrawals (Report)
The Thai-based cryptocurrency exchange – Zipmex – will reportedly enable its customers to partially withdraw some of their Bitcoin and Ether holdings, starting from August 11. The company was one of t...
CoinSmart Is on the Hunt to Buy Distressed Crypto Assets
CoinSmart Financial Inc., a crypto asset trading platform based in Toronto, Canada, announced on Wednesday that it is on the hunt to buy crypto startups in Canad6a, Europe, and the US, according to Bl...
Distressed Crypto Exchange Zipmex in Talks With ‘Interested Parties’ Regarding a Possible Deal
The Thailand-based cryptocurrency trading venue – Zipmex – might solve its issues with the help of a future partner. The exchange, which halted withdrawals last week, has discussed its situation with ...
Tron Founder Justin Sun Wants to Spend $5B to Save Distressed Crypto Firms
Tron blockchain founder Justin Sun is as empathetic about the current crypto firms that are distressed as he is willing to bail many out. While there has been no news of Tron bailing out any crypto fi...
Nexo Looking To Acquire Distressed Crypto Lending Platform Vauld: Report
Crypto lender Nexo is announcing intentions to buy another lending platform in the industry as markets continue to struggle. According to a Reuters report, a new statement from the London-based Nexo s...