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The founders of the hedge fund that filed for bankruptcy last year have started an exchange for creditor claims, which is seeing $50 million in trading volume, said Davies. Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Creditors of failed cryptocurrency lending platform BlockFi are seeking liquidation of the firm’s assets, citing allegations of fraud and misconduct against the company and its CEO, Zac Prince. The unfolding financial crisis at BlockFi, a former cryptocurrency
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“It is time to end all of this,” the creditors’ filing said, adding that, unlike other cases of alleged crypto wrongdoing, such as Sam Bankman-Fried’s FTX, “BlockFi customers do not yet know their story, and this is facilitating case mischief … It is time for the Court to order an
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Creditors of bankrupt cryptocurrency lending platform Celsius have alleged that crypto market maker Wintermute assisted Celsius executives in manipulating the prices of CEL (CEL) through the use of “wash trading.”According to a June 23 Bloomberg report, citing a recent court filing, Celsius creditors have recently amended their lawsuit in the
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The United States Securities and Exchange Commission (SEC) has agreed to postpone the payment of a $30 million fine from bankrupt crypto lender BlockFi until creditors are paid back. The amount represents the balance of a $50 million settlement with the regulator from February 2022. According to June 22 court filings,
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Disgruntled creditors of the bankrupt cryptocurrency lending firm BlockFi have submitted a new court filing in response to the company’s latest restructuring plan.On May 12, BlockFi outlined its Chapter 11 reorganization plan in a filing with the United States Bankruptcy Court in Trenton, New Jersey. The firm said that selling
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However, nobody at BlockFi bothered to follow through with this, including the restructuring team, and no bond was posted, the creditors said. “It’s a good thing the federal government stepped in to bail out all SVB depositors, including BlockFi,” they wrote. Original Source
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EY, the global accounting and professional services organization, released a long-awaited update on Friday for the creditors of Quadriga CX. The Canadian cryptocurrency exchange, which had sought bankruptcy protection in 2019 with liabilities of C$215.7 million and assets totaling around C$28 million, had left its creditors in a state of
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Creditors of the bankrupt Canadian crypto exchange QuadrigaCX are set to receive 13% of their total claims as part of an “interim dividend.” According to a May 12 notice to creditors from QuadrigaCX’s bankruptcy trustee Ernst & Young (EY), each “creditor with a proven claim will receive 13.094156% of their
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A judge has approved repayment for BlockFi custodial wallet holders but said interest-bearing funds still belong to the bankrupt company. BlockFi custodial wallet users could receive a massive $300 million repayment from the bankrupt digital asset lender. On Thursday, a New Jersey judge ruled that the assets locked in BlockFi’s custodial
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