Cryptocurrency Analysis and News Portal
The 56 million shares, with a current value of around $577 million, are the subject of a complex tussle between BlockFi, bankrupt crypto exchange FTX, FTX founder Sam Bankman-Fried, the Antigua-based liquidators of the shell company that nominally owned the shares and the U.S. Department of Justice (DOJ). Source
Read More
The U.S. estate of the bankrupt crypto exchange doesn’t reckon the Turkish authorities are going to cooperate, after their seized local assets in November Original Source
Read More
This new deal applies to around 130 staff, who will mostly get a bonus worth 42.5% of salary, paid in three installments over a year. Worth $9.98 million, this package is the right way to secure value for former customers, lawyers for BlockFi told the court. Source
Read More
Controversial law firm Sullivan & Cromwell is on track to reap a fortune from its work on the bankruptcy case of the FTX cryptocurrency exchange, according to a new report.Sullivan & Cromwell’s costs in the FTX case are estimated to reach hundreds of millions of dollars before the firm’s bankruptcy
Read More
“I have sufficient funds on hand to pay Genesis the sums allegedly owed, and I’m happy to pay what I actually owe,” wrote Ver, who now advocates for the Bitcoin Cash (BCH) blockchain. “However, Genesis was required by our agreement to remain solvent – as Genesis can’t ask its clients
Read More
Embattled crypto lender Celsius plans to use a new bankruptcy digital currency token to pay off its creditors. According to reports, Celsius Network LLC may issue a bankruptcy crypto token to repay creditors. This development forms part of a broader “recovery corporation” scheme by the bankrupt crypto lender to remerge as
Read More
A Washington, D.C., townhome tied to FTX co-founder Sam Bankman-Fried has been listed on the market for roughly $3.28 million. The property was purchased by Bankman-Fried’s brother’s nonprofit, Guarding Against Pandemics, for the same price it is selling for today. FTX Co-Founder’s Luxury Property Suspected to Have Been Used for Wining
Read More
A lawyer for bankrupt crypto lending firm Genesis is optimistic the firm can resolve its creditor disputes as early as this week and the company could come out of Chapter 11 proceedings by late May.Genesis’ lawyer Sean O'Neal made the comments at a Jan. 23 initial hearing at the United
Read More
According to a declaration filed by Genesis interim CEO Derar Islim, the company has more than $5 billion in liabilities – a sum considerably larger than its assets which, according to a presentation to the court on Monday, include approximately $150 million in unencumbered cash, $500 million in digital assets,
Read More
Megan Crowell, the chief people officer at crypto lending firm BlockFi, has petitioned a court to allow bonuses for “key employees” amid Chapter 11 bankruptcy proceedings.In a Jan. 23 declaration for United State Bankruptcy Court in the District of New Jersey, Crowell said without giving certain financial incentives, BlockFi might
Read More