Key Takeaways Celsius Network, the bankrupt crypto lending platform, has shared plans to unstake its existing Ethereum holdings to make it easier to distribute assets to creditors. In a recent update on X, the company, which filed for Chapter 11…
Key Takeaways In the latest development of FTX Trading Ltd’s bankruptcy proceedings, CEO John Ray III and the legal team at Sullivan & Cromwell have submitted an amended reorganization plan. The plan, disclosed last Friday, outlines the repayment of billions…
Key Takeaways Bankrupt cryptocurrency exchange FTX, along with its debtors, has submitted a request to the U.S. bankruptcy court in Delaware seeking approval to sell trust assets, including funds from Grayscale and Bitwise, valued at an estimated $744 million. The…
Key Takeaways In a recent bankruptcy court filing on October 25, FTX, the embattled crypto exchange, is making a move to demand information regarding substantial payments it had previously made to the Center for AI Safety (CAIS), a nonprofit organization…
Key Takeaways Celsius Network, a beleaguered crypto lending platform, is making strides in its effort to repay customers and restructure its operations following its Chapter 11 bankruptcy filing in July 2022. During a pivotal bankruptcy hearing on October 2nd, the…
Key Takeaways In a significant legal dispute within the cryptocurrency space, lawyers representing Gemini Trust have strongly opposed a bankruptcy recovery plan proposed by Digital Currency Group (DCG) concerning creditors of Genesis Global. Gemini Trust, a well-known cryptocurrency exchange, has…
Following a decrease in customer cash flow, cryptocurrency custodian Prime Trust filed for Chapter 11 bankruptcy protection.
Key Takeaways In a move to steer the company back on track, Core Scientific has announced the appointment of Adam Sullivan as its new CEO, replacing co-founder Mike Levitt in the role. The decision comes as the bitcoin mining giant…
To exclude its Dubai unit from ongoing restructuring procedures, FTX has filed a motion with the court.
Key Takeaways In a major breakthrough, two prominent cryptocurrency companies, FTX and Genesis Global, have reached a settlement agreement to resolve their Chapter 11 bankruptcy cases. The companies, both grappling with financial woes, had been embroiled in a contentious dispute…
