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The new language points out that customers could be treated as general unsecured creditors if there ever were to be such proceedings. Original Source
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Strong wound up purchasing a note from Income Opportunities by transferring the 500 bitcoin he was lending to CredEarn. A few months later, however, in July 2020, after Cred was already on the road to bankruptcy, Cred bought the note back from Strong for roughly 516 bitcoin. And then in
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The agreement is subject to creditor acceptance. Source
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Cred is the first U.S. crypto lender to file for bankruptcy in the country. Ripple is opening regional headquarters in the Middle East. President-elect Joe Biden’s incoming administration appears to be courting at least two pro-crypto political actors for cabinet positions.Top shelfBankruptcy filingCrypto lender Cred filed for bankruptcy protection this
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United States-based cryptocurrency lending service Cred filed for Chapter 11 bankruptcy protection on Saturday, leaving many customers searching for solutions to get their funds. According to court documents, the legal team for Cred CEO Daniel Schatt filed bankruptcy papers for the company in the District of Delaware on Nov. 7. Cred listed
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In October, the lender published a cryptic letter saying that it has experienced “irregularities” in the handling of “specific” corporate funds by a “perpetrator of fraudulent activity.” Source
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Barclays upgraded the cruise line stocks.Cruise lines may get permission to start operating next week.Long-term cruise trends suggest the pain isn’t over for the industry.Barclays, the major bank involved in the LIBOR scandal, and often-fined by the SEC for money laundering and other financial crimes, has a new suggestion for
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Once the lead proponent and builder of the Factom Protocol, Factom Inc. has been in financial difficulties for some time. The Austin, Texas-based company has declared voluntary bankruptcy, saying it is currently not in a position to pay as much as $7.5 million in debts. “It is desirable and in
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Ford stock has entered a free fall, touching 11-year lows. The company reported losses in Q4 earnings and was only able to pay dividends because of its financial arm. Steeply rising auto loan delinquencies and a weak industry outlook will push Ford Motor Company into bankruptcy. Ford Motor Company
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Canada-based cryptocurrency mining company Great North Data has submitted a bankruptcy filing, purportedly due to insolvency.As the Canadian Broadcasting Corporation reported on Dec. 4, Great North Data — which operated crypto mining facilities in Labrador City and Happy Valley-Goose Bay — filed bankruptcy documents in late November, listing CA$13.2
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