Debtors saved over $100M using de-pegged stablecoins to repay loans

The depegging of USD Coin (USDC) and Dai (DAI) from the United States dollar prompted a frenzy of loan repayments over the weekend, allowing debtors to save a total of more than $100 million off their...

Babel Finance Hopes On Bitcoin-Backed Stablecoin To Repay $766 Million Debt

– Advertisement – Summary: Babel Finance plans to repay creditors with a two-prong approach – a decentralized finance platform and a crypto-backed stablecoin token. The troubled crypto len...

Babel Finance Proposes Launching New Stablecoin To Repay Debtors

9 seconds ago | 2 mins read Defi News Babel co-founder Yang Zhou is now the company’s sole director. A completely reserved stablecoin dubbed HOPE is proposed as part of restructuring plan. According t...

Babel Finance Mulls New Token Launch to Repay Creditors

Babel Finance, the Hong Kong-based crypto lending platform, plans to introduce a decentralized stablecoin that will be used to repay the firm’s creditors, according to a Bloomberg report. The firmR...

Babel Finance Mulls Crypto-Backed Stablecoin to Repay $766M: Report

Babel is on the verge of filing a moratorium extension that would prevent creditors from making claims for at least another six months, the report from Sunday said. The filing alleges that co-founder ...

Babel wants to repay creditors via special ‘recovery coins’: Report

Babel Finance, one of cryptocurrency lending firms shaken by the bear market of 2022, is exploring new restructuring opportunities involving minting a new token. Babel co-founder Yang Zhou is planning...

Babel proposes new stablecoin to repay $766m to creditors

After recording massive losses last year, financial service provider Babel Finance proposed developing a new stablecoin to generate revenue to repay $766 million to its creditors. The plan involves cr...

Babel Finance to Launch HOPE Stablecoin in Effort to Repay Debts

Embattled crypto lending firm Babel Finance envisions a restructuring effort centered around a new stable asset project called Babel Recovery Coin. Babel’s co-founder and sole director Yang Zhou is pi...

Celsius to repay users; SEC may apply custody rules to crypto

Ad The biggest news in the cryptoverse for Feb. 15 saw Celsius announce that it plans to begin paying back eligible users. Elsewhere, the SEC has proposed expanding federal custody rules to the crypto...

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 ...

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...

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...

S&P downgrades Bed Bath & Beyond, says beleaguered retailer has ‘insufficient funds’ to repay its financial obligations

S&P Global Ratings downgraded Bed Bath & Beyond Inc.’s credit Friday, a day after the beleaguered retailer said it was in default on loans that have been called in. The default filing sent Bed...

Celsius Floats Possibility of Debt Token to Repay Creditors; Secures Court Approval to Process Customer Withdrawals – Bitcoin News

The defunct crypto lender Celsius is exploring the possibility of creating a debt token to repay creditors. The plan would need to be approved by regulators, but if approved by the trustee and financi...

Celsius Proposes “Recovery Corporation” to Repay Creditors

The legal team of the bankrupt cryptocurrency lending firm Celsius Network LLC announced on Tuesday that the company is working on reinventing itself as a new, publicly traded “recovery corporation,” ...

FTX Cleared to Sell LedgerX, Other Assets to Repay Creditors

A judge overseeing the FTX bankruptcy proceedings has given the crypto exchange permission to sell off some of its assets in order to repay creditors. The assets that will be sold include the CFTC-reg...

Remote worker ordered to repay employer for “time theft”

A Canadian accountant has been ordered to repay her employer for “time theft” after the company’s tracking software determined that she was performing personal tasks while she claime...

Dutch exchange Bitvavo rejects DCG’s proposal to repay 70% of debt

Cryptocurrency exchange Bitvavo, a major creditor of the troubled crypto company Digital Currency Group (DCG), has dismissed DCG’s proposal of partial debt repayment. Bitvavo officially announced on J...

Anyone Who Took Money From FTX Ought to Repay It

In his testimony before the House Financial Services Committee, current FTX CEO Jay J. Ray III laid out the most convincing case that fraud was committed while former FTX CEO Sam Bankman-Fried held th...

FTX Japan Plans To Repay Users in February of Next Year

8 seconds ago | 2 mins read Exchange News Liquid Japan is a crypto trading platform that was recently bought by FTX Trading Ltd. FTX Trading filed for Chapter 11 bankruptcy earlier last month. In a st...

Defrost Finance Recovers Stolen Funds, Will Repay Customers

Decentralized finance protocol Defrost Finance has recovered funds from the hacker involved in the V1 flash loan exploit. In the latest blog post, Defrost said that it will soon start scanning the on-...

Former Alameda CEO Admits to Using FTX Customer Deposits To Repay Loans on Risky Investments: Report

Caroline Ellison, the former CEO of Alameda Research, says the trading firm made short-term and open-term loans worth billions of dollars to pay for its venture investments. In a transcript of her gui...

SBF Seeks A Chance At Redemption To Repay FTX Victims

The crypto community was left shell-shocked in November 2022 when FTX – one of the leading crypto exchange platforms, filed for bankruptcy. Pessimism towards crypto is at an all-time high, with famous...

Sam Bankman-Fried Wants to Start New Business to Repay FTX Users — ‘I’m Going to Try if I Can’ – Featured Bitcoin News

Former FTX CEO Sam Bankman-Fried (SBF) has revealed that he wants to start another business in the hope of earning money to repay FTX customers. “I would give anything to be able to do that. And I’m g...

SBF plans new venture to repay FTX collapse victims, claims ‘did not commit fraud’

Sam Bankman-Fried (SBF), the former CEO of the now-collapsed FTX crypto exchange, has said that he hopes to start a new business to generate funds to pay back victims of the company’s collapse. ...

Orthogonal Trading fails to repay a loan amount of $10M to Mapple Finance

With the FTX going into bankruptcy, the overall ripple effect is seemingly carrying on, leaving its ugly mark and negative impact on all who are connected. In the latest case scenario, it happens to b...

AAVE Proposes to Repay Excess Debt in CRV Market for Aave V2 ETH

The Mango market was a victim of Avraham Eisenberg’s trading skills, which tricked down to the AAVE protocol. On November 23, authors llamaxyz and Gauntlet proposed to the AAVE community a path toward...

Australian Bitcoin miner under pressure to repay $107.8 million debt – crypto.news

The ongoing crypto winter seems to have snared its latest victim after Australian Bitcoin mining company Iris Energy received a notice of demand from its lender and Bitcoin rig maker Bitmain Technolog...

SBF Won’t Stop Tweeting, Now Claims FTX US ‘Had Enough to Repay All Customers’

Despite the collapse of FTX, the exchange’s ex-CEO Sam Bankman-Fried continues to tweet. Today on Twitter the embattled businessman asserted that FTX US had enough to “repay all customers”—at least as...

Sam Bankman-Fried Continues Cryptic Twitter Thread, Claims FTX US ‘Had Enough To Repay All Customers’

The founder of bankrupt crypto exchange FTX says that he’s trying to find a way to make his former customers whole. In a lengthy cryptic thread on Twitter, Sam Bankman-Fried says that he thought that ...

Sam Bankman-Fried continues bizarre Twitter rambling, says FTX US had cash needed to repay clients

If former FTX CEO Sam Bankman-Fried had designs on repairing his reputation as a responsible steward of a once multi-billionaire-dollar crypto empire, he’s certainly complicating matters. Bankma...

FTX US had enough to repay all customers, Bankman-Fried tweets

Former FTX CEO Sam Bankank-Fried returned to his ongoing, mysterious Twitter thread with the following: a) Alameda had more assets than liabilities M2M (but not liquid!) b) Alameda had margin pos...