Bankruptcy – Page 18 – Miami Crypto Coin

Celsius chooses NovaWulf’s bid to exit from bankruptcy

Post author:MiamiCrypto
Post published:February 16, 2023
Post category:Bankruptcy celsius Court

A proposal by Celsius sees most creditors receive a one-time payment of crypto while those with a larger claim would receive equity in a new company.

FTX bankruptcy judge denies US trustee’s motion to appoint independent examiner

Post author:MiamiCrypto
Post published:February 15, 2023
Post category:Bankruptcy Court Cryptocurrency Exchange ftx Regulation

The U.S. trustee made arguments including that an examiner was necessary to scrutinize the use of software to conceal FTX’s alleged misuse of customer funds.

FTX liquidators report exchange held $2.4M ‘fleet of vehicles’ in the Bahamas

Post author:MiamiCrypto
Post published:February 10, 2023
Post category:Bankruptcy Caribbean ftx Regulation

The liquidators said they would “commence disposals” of certain FTX Digital physical assets following approval from the Bahamas’ supreme court.

Crypto Biz: FTX clawbacks, Genesis silver lining?

Post author:MiamiCrypto
Post published:February 10, 2023
Post category:Bankruptcy Digital Currency Group ftx Sam Bankman-Fried

As FTX seeks clawbacks on political donations, Digital Currency Group and its bankrupt subsidiary, Genesis Global Trading, have reached an agreement on restructuring.

Celsius‘ motion to extend timeline for restructuring plan faces objection from creditors

Post author:MiamiCrypto
Post published:February 9, 2023
Post category:Bankruptcy celsius law Regulation

“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.

Bitfarms settles outstanding loan with BlockFi for $7.75M

Post author:MiamiCrypto
Post published:February 9, 2023
Post category:Bankruptcy Bitcoin Mining loans Mining

The Toronto-based Bitcoin mining company has reduced its debt by nearly 85% since June 2022.

FTX debtors can issue subpoenas to company ‘insiders’, says court

Post author:MiamiCrypto
Post published:February 8, 2023
Post category:Bankruptcy Court ftx law Regulation

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.

Coin Cloud crypto ATM operator files for bankruptcy, owes over $100M to Genesis

Post author:MiamiCrypto
Post published:February 8, 2023
Post category:atm Bankruptcy Cryptocurrencies

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.

3AC founder has ‘chosen to ignore his duties’ by not responding to subpoena, say bankruptcy lawyers

Post author:MiamiCrypto
Post published:February 8, 2023
Post category:Bankruptcy law Regulation Singapore Three Arrows Capital

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.

Genesis entity going up for sale as DCG makes creditor pact

Post author:MiamiCrypto
Post published:February 7, 2023
Post category:Bankruptcy Court creditors DCG Digital Currency Group genesis sale

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.