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Alameda Research withdrew over $200 million from FTX.US before it filed for bankruptcy, according to analysis from blockchain firm Arkham Intelligence disclosed on Nov. 25. In a Twitter thread, Arkham revealed that Alameda Research, FTX's sister company, pulled $204 million from eight different addresses of FTX US in a variety of
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"We had filed with your Honor a motion to transfer that case from the Southern District of New York to the district of Delaware, and we are pleased to report that we have reached an agreement with the joint provisional liquidators to do just that to bring the case from
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Cryptocurrency lending firm Genesis Global Capital has reportedly hired a restructuring adviser to explore all possible options that include, but aren’t limited to, a potential bankruptcy. It is understood that the firm has hired investment bank Moelis & Company to explore options, while people familiar with the situation have stressed that
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FTX’s collapse has kicked off the most complicated bankruptcy process so far for the crypto ecosystem, with 102 different court dockets and a first day hearing that took well over a week to schedule. Millions of people’s money is at risk, and that’s ignoring the broader contagion concerns within the
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"In recent days, there has been chatter about intercompany loans between Genesis Global Capital and DCG," Silbert wrote. "For those unaware, in the ordinary course of business, DCG has borrowed money from Genesis Global Capital in the same vein as hundreds of crypto investment firms. These loans were always structured
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FTX creditors concerned about their names and other personal information being disclosed as part of the crypto exchange’s bankruptcy proceedings can breathe a sigh of relief – at least temporarily. Original Source
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“You have witnessed probably one of the most abrupt and difficult collapses in the history of corporate America,” an attorney for FTX said during the company’s first bankruptcy hearing on Tuesday. Source
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James Bromley, a partner at law firm Sullivan & Cromwell representing debtors in FTX’s bankruptcy case in the District of Delaware, has said that assets at the firm continue to be at risk from cyberattacks.In a livestream of FTX Trading’s bankruptcy proceedings on Nov. 22, Bromley said new FTX CEO
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"We have no plans to file bankruptcy imminently," a Genesis representative told Bloomberg. "Our goal is to resolve the current situation consensually without the need for any bankruptcy filing. Genesis continues to have constructive conversations with creditors." Original Source
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With the FTX crypto exchange’s collapse, many events erupted in the crypto space. As a result, more of FTX’s investors and partners record massive losses with no potential recovery system. FTX filed for bankruptcy last week, but shocking revelations are now creeping out following its bankruptcy filing. A deeper examination of
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