Cryptocurrency Analysis and News Portal
Just days after creditors offered to help Core Scientific — a Bitcoin (BTC) mining company — avoid possible bankruptcy, reports emerged confirming the business’ inevitable fate. Core Scientific reportedly filed for Chapter 11 bankruptcy protection in Texas owing to falling revenue and BTC prices.On Dec. 14, Financial services platform B.
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Bankrupt crypto lending platform BlockFi has filed a motion requesting authority from the United States Bankruptcy Court to allow its users to withdraw digital assets currently locked up in BlockFi Wallets. In a motion filed on Dec .19 with the U.S. Bankruptcy Court in the District of New Jersey, the lender
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Earlier, FTX made a number of targeted acquisitions that established it as a market leader in the digital currency ecosystem.Bankrupt digital currency trading and derivatives platform, FTX has filed a request with the Bankruptcy Court of Delaware to permit the bidding process for four of its solvent and independently operating
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Sam Bankman-Fried, the jailed founder of bankrupt cryptocurrency exchange FTX has reportedly filed a new application for bail in the Bahamas Supreme Court following his previous unsuccessful bail bid.Local media on Dec. 15 reported the founder submitted the application and that it would be heard before the court in just
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The United States Commodity Futures Trading Commission, or CFTC, has filed a lawsuit against Sam Bankman-Fried, FTX and Alameda Research, claiming violations of the Commodity Exchange Act and demanding a jury trial.According to court records filed Dec. 13 in the Southern District of New York, the CFTC filed a complaint
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Originally named Math Money FX, the company was formed in 2013 to help financial institutions leverage the Bitcoin blockchain to "reduce risk, save costs, and increase efficiencies," according to a company timeline. Early on, it raised money from finance titans including the former CEO of the New York Stock Exchange,
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The most talked about crypto lawsuit involving the United States Securities and Exchange Commission (SEC) and Ripple is approaching its conclusion after a two-year-long battle.On Dec. 2 the SEC and Ripple both filed redacted replies to each other’s opposition to motions for summary judgment. Ripple argued in its motion document
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Porsche to launch 7,500 NFTs for use in a ‘virtual world’German luxury car manufacturer Porsche has suggested it will be significantly ramping up its Web3 efforts after unveiling an upcoming NFT project consisting of 7,500 customizable tokenized vehicles. In a Nov. 29 announcement, Porsche stated that the NFTs will be
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The MakerDAO community rejected a proposal to use up to $500 million of the stablecoin USDC to invest in bonds with crypto investment firm CoinShares. As CoinDesk's Krisztian Sandor reported, CoinShares had proposed managing between 100 million and 500 million USDC and actively investing the money in a portfolio of
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On Nov. 28, 2022, the crypto lender Blockfi informed the public via a press release that the company has voluntarily petitioned for Chapter 11 bankruptcy protection. Blockfi is now one of many digital currency businesses dealing with significant financial hardships and bankruptcy proceedings in 2022. Blockfi Voluntarily Petitions for Chapter 11
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