FTX Reaches Settlement With IRS on $24 Billion Tax Claim
Crypto exchange FTX has reached a settlement with the Internal Revenue Service (IRS), reducing its $24 billion claim to $200 million to be paid within 60 days after the company’s…
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Bankruptcy Court Backs Bittrex in Cryptocurrency Freeze Dispute
The bankruptcy proceedings of Bittrex Inc. involved a legal dispute over claims filed by Azim Ghader, who sought recovery for lost profits and damages after his cryptocurrency was frozen on…
$2.18 Billion Digital Assets in Kind Returned to Earn Users, Gemini Says
Cryptocurrency exchange Gemini announced on Wednesday that Earn users have received $2.18 billion of their digital assets in kind, representing 97% of their assets owed and a 232% recovery since…
Gemini Earn Recovers 97% Of Customers’ Lost Crypto
Gemini’s bankrupt crypto lending arm has successfully recovered virtually all of its customers’ digital assets, marking one of the most successful industry recoveries from insolvency to date. The crypto exchange,…
Bankrupt Crypto Lender Genesis to Repay $3 Billion to Creditors
U.S. Bankruptcy Judge Sean Lane approved Genesis Global’s Chapter 11 liquidation plan on Friday, enabling the bankrupt cryptocurrency lender to return approximately $3 billion in cash and crypto to its…
Court Approves Crypto Lender Genesis’ $3 Billion Payout to Customers
Crypto lender Genesis Global obtained court approval Friday to return approximately $3 billion to its customers as part of its bankruptcy liquidation. U.S. Bankruptcy Judge Sean Lane approved Genesis’ Chapter…
Bankrupt Crypto Lender Blockfi Enlists Coinbase to Distribute Crypto Payouts
The now-defunct crypto lender Blockfi is officially shutting down the firm’s web portal this month according to an update from the firm. Blockfi said that it has partnered with Coinbase…
FTX Bankruptcy Claims Surge in Value: Bids Now Approach 93 Cents on the Dollar
Half a year ago, firms specializing in acquiring troubled companies and their debts were actively accumulating FTX bankruptcy claims worth millions, offering $0.33 for every dollar of claim. Presently, the…
New Research Paper Sheds Light on Alleged Conflicts of Interest in FTX’s Chapter 11 Filing
A recent research paper on SSRN by legal scholars scrutinizes the ethical quandaries and potential conflicts of interest surrounding Sullivan & Cromwell LLP’s involvement in FTX’s Chapter 11 bankruptcy filing.…
FTX to Sell Off Digital Custody at a Very Steep Markdown
After entertaining the possibility of restarting FTX following the bankruptcy process for a long time, lawyers for the defunct exchange have announced that that plan is now scrapped, and the…
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