Cryptocurrency Analysis and News Portal
Apollo Global, with $500 billion in assets under management, is looking to revamp the bankrupt Celsius Network in partnership with Provenance Blockchain. It’s nearly a year since crypto lender Celsius Network filed for bankruptcy after slipping into a liquidity crisis following the fall of the Terra ecosystem. In the latest
Read More
The $500 billion-plus firm is involved in NovaWulf's offer for Celsius, according to a person familiar with the matter. Source
Read More
Cryptocurrency exchange FTX is seeking to recover around $4 billion from similarly bankrupt crypto lender Genesis and a still-solvent British Virgin Islands-based entity — part of efforts to recover value for creditors.In a May 3 court filing in a New York Bankruptcy Court, lawyers for FTX sought $1.8 billion in
Read More
According to Wednesday's filing, Alameda repaid $1.8 billion in loans to Genesis and pledged $273 million to Genesis in the 90 days before the various FTX companies filed for bankruptcy. Genesis also withdrew another $1.6 billion from FTX, while Genesis Global Capital International withdrew another $213 million in that same
Read More
The lawyers and consulting firms assisting cryptocurrency exchange FTX through its bankruptcy proceedings are set to cash in a total of $103 million over the first quarter.March saw five firms — Sullivan & Cromwell, Alvarez & Marshal, AlixPartners, Quinn Emmanuel Urquhart & Sullivan and Landis Rath & Cobb — bill
Read More
Regular customers, misled by management, didn’t understand the implications of this transfer – but more sophisticated Series B investors were well aware of deficient record keeping, the filing added, arguing that the two entities should be treated as one for bankruptcy purposes. Original Source
Read More
FTX got the nod earlier this year to sell some of its business units. The FTX exchange has now reached an agreement to sell its crypto derivatives platform LedgerX in a deal worth about $50 million. According to a Reuters report, FTX has agreed sale terms with an affiliate of Miami
Read More
“The plan and confirmation order contemplate certain transactions and other steps, including making certain distributions to Debtors’ account holders… the parties agree that these transactions may go forward while this appeal is litigated and resolved,” said the document, which is signed by a U.S. Attorney and U.S. Trustee – a
Read More
Tribe Capital, the San Francisco-based venture capital firm that previously invested in FTX before its collapse, is exploring the possibility of injecting new capital to revive the bankrupt cryptocurrency exchange, Bloomberg reported on April 18.The venture capital firm is reportedly contemplating leading a $250 million fundraising campaign, anchored by $100
Read More
The decision, which is subject to a bankruptcy court’s approval, comes after a DFPI investigation found the now-bankrupt crypto lender “failed to provide timely notification” to borrowers that they could stop repaying their loans after the company had paused withdrawals on its platform. As a result, BlockFi’s California borrowers remitted
Read More