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“It is time to allow the Debtors’ customers to propose their own plan for the assets that they were defrauded into investing with Celsius,” said a Withhold account holders’ filing.
The Toronto-based Bitcoin mining company has reduced its debt by nearly 85% since June 2022.
The list of FTX insiders included former CEO Sam Bankman-Fried, former Alameda Research CEO Caroline Ellison, FTX co-founder Gary Wang, and members of SBF’s immediate family.
The company was in “hyper-growth” in January 2022, now it has over 5,000 creditors and debts over $100 million; bankrupt Genesis is its largest creditor.
According to the filing, Kyle Davies was “without question” aware of the subpoena posted to Twitter, citing the 3AC founder's online activity and attempts to raise funds for GTX.
Digital Currency Group (DCG) plans to hand Genesis its stake in the Genesis Global Trading business entity which will then be sold, pending court approval.
John Ray said when he took control of FTX in November 2022, there was a “massive scramble for information” related to the exchange’s funds, insurance and personnel.
FTX's new management is sending messages to politicians and political groups to return donations by the end of the month.
The seven-member committee will represent the creditors in court, having the right to participate in the reorganization plan.
A few blocks from the U.S. Capitol, the townhouse belongs to Guarding Against Pandemics, a nonprofit organization founded by Gabriel Bankman-Fried, SBF's brother.