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However, FTX itself filed for bankruptcy in the second week of November, after days of speculation about whether it was fully liquid. The questions were sparked by a CoinDesk report revealing that much of FTX sister company Alameda's balance sheet was composed of an exchange token, FTT, issued by FTX,
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The company has been in talks with existing lender Bifinity and other potential investors to raise capital, but has not been successful. Original Source
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The move on behalf of FTX.com, based in the Caribbean, is the latest legal move in the crypto exchange’s collapse. Source
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FTX Group, which includes the FTX.com entity as well as FTX US, Alameda Research and “approximately 130 additional affiliated companies” have all filed for chapter 11 bankruptcy proceedings, according to a press release. CEO and founder Sam Bankman-Fried also resigned his role, but will "assist in an orderly transition." John
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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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A bankruptcy filing attributed to Alameda Research estimates the company has $10 billion to $50 billion in liabilities. Original Source
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A judge also temporarily denied Celsius from paying certain employees a retention bonus, a total of nearly $3 million. The plan, which Celsius’ lawyers claimed was necessary to keep the company’s employees from jumping ship, would divide the approximately $3 million in requested funds into cash bonuses for 62 of
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Cryptocurrency exchange Coinbase has filed an amicus brief in support of Ripple Labs in the U.S. Securities and Exchange Commission (SEC) lawsuit over xrp. Coinbase’s support is seen as a significant step in the case given that the crypto exchange was among the first trading platforms to delist xrp following
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National Basketball League (NBA) megastar Steph Curry looks set to introduce his own version of the Metaverse to NBA’s 650 million fans — filing a “Curryverse” trademark application on Oct. 26. If approved, the United States-based trademark application, filed by SC30 Inc. will grant the four-time NBA champion exclusive rights for “entertainment services,
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United States-based crypto exchange Coinbase has become the latest organization to stand behind Ripple Labs in its legal battle against the Securities and Exchange Commission (SEC), which could wrap up as soon as the first half of 2023.Paul Grewal, Coinbase’s chief legal officer in a series of tweets on Oct.
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