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The embattled crypto exchange FTX has informed the public that the FTX parent firm West Realm Shires Services, Alameda Research, and approximately 130 additional affiliated companies have filed for Chapter 11 bankruptcy protection in Delaware. FTX’s Parent Company, Alameda Research, and 130 Associated Firms Voluntarily Commence Bankruptcy Proceedings After days of confusion
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Within a week, crypto exchange FTX has gone from proposing an acquisition by Binance to sort out its liquidity issues to proceeding with filing for bankruptcy under Chapter 11 in the District of Delaware.In a Nov. 11 tweet, FTX said roughly 130 companies in FTX Group including FTX Trading, FTX
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The troubled crypto lender, in a statement, says its purpose for the voluntary action is to enable a "comprehensive restructuring plan" that benefits all "stakeholders." Source
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Days after pausing trading, withdrawals and deposits, crypto exchange Voyager Digital is filing for bankruptcy under Chapter 11 in the Southern District Court of New York.Voyager's Chapter 11 bankruptcy filing indicated that it is on the hook for anywhere from $1 billion to $10 billion in assets to more than
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The troubled crypto hedge fund Three Arrows Capital Ltd., otherwise known as 3AC, has filed for bankruptcy according to recent court filings. The court papers show 3AC is aiming for an ancillary Chapter 15 proceeding so liquidators and creditors cannot seize the firm’s U.S. assets. 3AC Files for Bankruptcy —
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According to multiple sources, the original Pudgy Penguins founding team made lofty promises to the community, including launching a children's book, a token and a metaverse game centered around the penguin images. Ultimately, none of the projects came to fruition. Original Source
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A fundamental trait of crypto is as an asset class that transcends jurisdictions. Yet, one of the key hubs driving adoption and innovation is Asia. Since the heady days of Korea’s Kimchi premium and Bitcoin (BTC) arbitrage opportunities, the region is playing a role in defining crypto’s development pathways and
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This past weekend at the Market America Worldwide Shop.com 2021 International Convention (MAIC2021), the president of the e-commerce firm, Steve Ashley, announced Shop.com sites from around the world will be accepting cryptocurrencies via Bitpay. This means that bitcoin, ethereum, bitcoin cash, and several other digital assets can be used to
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If Bitcoin reacts to the recent substantial printing of more Tether stablecoins the same as it has in
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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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