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The crypto lender – which counts Peter Thiel, Pantera Capital, and Coinbase Ventures among its investors – owes $402 million to its creditors, with 90% of that debt originating from individual retail investor deposits, a July 8 affidavit filed by Vauld co-founder and CEO Darshan Bathija revealed. Source
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“To the Singapore courts, how the relationship between [the BVI, U.S., and Singapore entities] is described on the companies’ website or publicity materials would not matter,” Lin said. “The real test is of the actual relationship between the entities, and the court will consider whether there is real evidence that
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Where in the world are Su Zhu and Kyle Davies? Lawyers involved in the liquidation proceedings of Three Arrows Capital’s British Virgin Islands fund would certainly like to know, as the hedge fund founders have not been cooperative in the proceedings so far and their current location is unknown. Original Source
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Summary: Creditors of Mt. Gox could soon get repaid in Bitcoin for their 2014 losses when the exchange was hacked. Mt. Gox’s bankruptcy trustee currently holds 141,686 Bitcoin. The distribution and potential selling of the Bitcoin by creditors could slow BTC’s recovery in the crypto markets. Creditors of the non-functioning crypto exchange Mt. Gox
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The price of Coinbase’s junk bonds are tanking amid an underwhelming performance in Q1 and fears over what could happen in the event of a bankruptcy. According to bond trading data from Trace Bonds, both of Coinbase’s junk bond offerings have dropped roughly 17% and 5.2% since its Q1 report
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Creditors from the now-defunct crypto exchange Mt. Gox have overwhelmingly approved a rehabilitation plan to compensate them for billions in lost Bitcoin.According to a Wednesday announcement from Mt. Gox trustee Nobuaki Kobayashi, roughly 99% of the creditors affected by the collapse of the Japan-based crypto exchange approved of the draft
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The groundbreaking cryptocurrency exchange, based in Tokyo, Japan, shut down in 2014 after thousands of bitcoins were stolen by unknown hackers. The process of making the exchange’s victims whole has been a lengthy, drawn-out process, characterized by delays and legal disputes. Today marks the end of yet one more milestone
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Creditors from the now-defunct crypto exchange Mt. Gox have until Friday Japan time to vote on a rehabilitation plan that could pay back millions in lost Bitcoin (BTC).Figures including Blockstream founder Adam Back and former Mt. Gox CEO Mark Karpelès took to social media this week to remind crypto users of the
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The agreement is subject to creditor acceptance. Source
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