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Kirkland & Ellis is currently the legal representative of many crypto exchanges that are faced with bankruptcy. Legal advisor Kirkland & Ellis has charged bankrupt crypto brokerage firm Voyager Digital the sum of $1.1 million in legal fees for their work in April. The fund is for fees and expenses related to
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The fund founded by Su Zhu and Kyle Davies suffered big losses on the collapse of the Terra ecosystem starting in May 2022 and took on additional leverage despite already being insolvent, the liquidators say. Original Source
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3AC co-founder Kyle Davies told CryptoX that the new entity aims to provide support for projects that are building for a decentralized future, but skeptics have recalled the original firm’s tainted past. Source
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The updated reorganization plan “reflects substantial agreement on certain key issues,” the filing said, but added that Genesis, its creditors and other stakeholders reserve their position in negotiations that are still ongoing. In April, for a 30-day period that was subsequently extended, the court appointed a mediator to resolve differences,
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The United States Justice Department (DOJ) has filed an objection to a motion by bankrupt cryptocurrency trading platform Bittrex to allow customers to withdraw their crypto and fiat. The U.S. Treasury’s Office of Foreign Asset Control (OFAC) is Bittrex’s biggest creditor, but its claim would be subordinated under the Bittrex
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The auction for parts of bankrupt Singaporean cryptocurrency hedge fund Three Arrows Capital’s (3AC) nonfungible tokens (NFT) collection fetched $2.5 million at its conclusion on May 19.Facilitated by fine arts broker Sotheby’s, collectibles on sale included Tyler Hobbs Fidenza #725, Larva Labs Autoglyph #187 and Tyler Hobbs Fidenza #861. The highest
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According to data by crypto intelligence firm Arkham Intelligence, Celsius transferred some 40,928 ETH to a crypto wallet spread through fourteen transactions between May 10 and May 12. The account is owned by Figment, who deposited the funds into staking contracts, according to Ethereum blockchain explorer Etherscan. Original Source
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Miller Thomson, the law firm representing QuadrigaCX stated that a small number of affected users are likely to receive notice of Disallowance of Claim. In a post earlier this week on May 8, Miller Thomson, a law firm representing the users of defunct cryptocurrency exchange QuadrigaCX announced that they would start
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According to a May 8 post by Miller Thomson, the law firm representing users of the defunct cryptocurrency exchange QuadrigaCX, interim distribution of funds tied to bankruptcy proceedings will be scheduled "in the coming weeks."Bankruptcy trustee Ernest & Young announced the interim distribution in consultation with estate inspectors. In the
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EY will make the procedure to file the claims public in the coming weeks, Source
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