Key Takeaways Crypto lender Genesis Global completed its Chapter 11 bankruptcy restructuring plan and began distributing about $4 billion in digital assets and cash to creditors. Under the plan, Bitcoin creditors will receive 51.28% recoveries as valued on an in-kind…
The decentralized autonomous organization HectorDAO filed for Chapter 15 bankruptcy in the US after a string of cyberattacks and market failures depleted the community's finances.
Key Takeaways A group of FTX creditors, led by vocal critic Sunil Kavuri, filed an objection on May 30th, 2024, to the bankrupt crypto exchange’s reorganization plan in US bankruptcy court. The objection argues the plan falls short on several…
Key Takeaways Leading Bitcoin Miner Core Scientific released its first quarter results for 2023. The crypto miner reported total revenue of $179.3 million, which is a significant surge from the $58.6 million reported back in Q1 2023. As per the…
Key Takeaways Three former executives of bankrupt crypto lender Cred Daniel Schatt, Joseph Podulka, and James Alexander have been charged by a federal grand jury with wire fraud conspiracy and money laundering. The alleged scheme is said to have caused…
Key Takeaways In a recent jury trial, Terraform Labs and its co-founder, Do Kwon, were found liable on civil fraud charges brought by the U.S. Securities and Exchange Commission (SEC) concerning the collapse of the Terra ecosystem in May 2022. …
Key Takeaways Genesis, a crypto lending firm, has completed the liquidation of its Grayscale Bitcoin Trust (GBTC) shares after securing permission from the U.S. bankruptcy court. The company announced that it successfully monetized all 36 million GBTC shares, valued at…
Key Takeaways Investors in the embattled cryptocurrency exchange FTX are embroiled in a legal tussle over the valuation of digital tokens associated with its co-founder, Sam Bankman-Fried, who is currently in jail. At the heart of the matter are claims…
Key Takeaways Defunct cryptocurrency exchange FTX is set to divest its approximately $1 billion stake in artificial intelligence firm Anthropic as part of a deal to settle its bankruptcy debts, CNBC reported on March 22. Anthropic, with backing from tech…
Key Takeaways In a bid to address financial turbulence, Celsius Network, the crypto lender, is embarking on a mission to reclaim over $2 billion withdrawn by significant customers in the lead-up to its bankruptcy declaration in July 2022. The objective…
