Celsius seeks to convert alts to Bitcoin and Ether under reorganization plan
The crypto lender has proposed converting all its altcoin holdings into Bitcoin and Ethereum to quell growing regulatory concerns and maximize the value of its assets.
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The crypto lender has proposed converting all its altcoin holdings into Bitcoin and Ethereum to quell growing regulatory concerns and maximize the value of its assets.
Bittrex owes $29 million on penalties for sanctions violations and may still face penalties in a case brought by the SEC.
Insolvency rumors surfaced after a series of events involving Multichain. Gate.io has denied any liquidity issues.
A bankruptcy judge denied a motion for an independent examiner in February, leading to an appeal that may now go to the U.S. Court of Appeals for the Third Circuit.
The deal was announced in April and approved by the bankruptcy judge on May 4.
The third try is a charm for the crypto brokerage, whose assets were almost bought by FTX and Binance.US. Now it’s just handing what it has over to its creditors.
Return of funds does not apply to users of interest-bearing accounts, ruled U.S. Bankruptcy Judge Michael Kaplan.
The settlement plan proposed in February would give Genesis creditors 80% recovery of funds but many raised demands, leading to the mediation.
Former CEO of crypto exchange FTX, Sam Bankman-Fried, has asked a judge in the U.S. to dismiss several charges against him filed after his extradition from the Bahamas. His lawyers…
The firm estimated it had more than 100,000 creditors, between $500 million and $1 billion in assets, and between $500 million and $1 billion in liabilities.