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Officially, the valuation as of the end of May is correct and Celsius will pay creditors $2 billion in Bitcoin and Ether tokens. A mathematician working for Celsius Network’s valuation advisor Stout Risius Ross LLC has confirmed that the fair value of some debtors’ assets and liabilities as of May 31,
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As Brazilian lawmakers discuss a bill that would grant strong protection to a sizable portion of the savings assets of debtors, a separate initiative is seeking to include crypto in the latest version of the bill.Bill 4.420/2021, authored by Deputy Carlos Bezerra, is currently being considered by the Committee on
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Despite criticizing the U.S. Trustee as the "sole objector to the Motion" seeking to "inject itself into a routine settlement process that is already adequately safeguarded by two different creditor committees," the debtors motion said it was proposing revisions in an effort to address the concerns. Source
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FTX debtors led by chief restructuring officer John J. Ray III have expressed disapproval of traders and market makers within the Official Committee of Unsecured Creditors (UCC) who are aiming to gain authority over assets. They believe the UCC’s plan to invest nearly $2.6 billion in cash reserves in short-term
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Just a month after bankrupt cryptocurrency exchange FTX was seeking $4 billion from the also bankrupt crypto lender Genesis, it is now contesting a claim that it is entitled to nothing.According to a June 2 court filing in a New York Bankruptcy Court, FTX has raised an objection to Genesis’
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Cross-chain bridge platform Ren Protocol has announced that FTX, Alameda Research and other affiliates that acquired the platform in 2022 have authorized and directed the platform to move all its crypto assets to FTX debtors’ wallets.According to Ren, the move lets debtors safeguard their assets in case of a potential
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The debtors behind bankrupt cryptocurrency mining firm Core Scientific filed a motion for the approval of hiring a permanent president.In an April 10 filing with United States Bankruptcy Court for the Southern District of Texas, Core Scientific said it was addressing “a gap in the Debtors’ management team” prior to
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FTX Debtors said on April 9 that it had released a report that “identifies and discusses control failures” by Sam Bankman-Fried and his colleagues when they ran the collapsed cryptocurrency exchange. John Ray, the CEO of the FTX Debtors, said the FTX Group “was tightly controlled by a small group
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Court filings reveal that the FTX co-founder is seeking access to a $10 million insurance plan to cover his attorney fees. FTX debtors and unsecured creditors have opposed Sam Bankman-Fried’s request, arguing that every dollar spent on his defense is “one less dollar” available to cover the losses of the
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As part of the agreement, debtors will sell roughly $95 million worth of preferred stock back to Mysten Labs in addition to $1 million in SUI tokens. On Thursday, March 23, debtors of the collapsed crypto exchange FTX filed a motion in the bankruptcy court seeking a $95 million stake in the
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