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Bankrupt crypto lender Genesis Global Capital has filed a lawsuit against cryptocurrency exchange Gemini to recover $689 million in preferential transfers, according to a Nov. 21 court filing.The lawsuit alleges that during the 90-day period before Genesis filed for bankruptcy in January, Gemini withdrew an “aggregate gross amount of no
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A Russian-speaking crypto ransomware gang LockBit has attacked ICBCFS arm in the U.S. Cryptocurrency ransomware gang LockBit has attacked the U.S. arm of the Industrial and Commercial Bank of China Financial Services (ICBCFS). Currently, it prevents the bank from settling Treasury trades, the Financial Times (FT) reports, citing market participants. Although details
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Defunct cryptocurrency exchange Hodlnaut will be wound up, according to a note from the company’s former interim judicial managers, Aaron Lee and Angela Ee. Source
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In an action filed as part of Genesis' bankruptcy case, Gemini is seeking to gain control of the GBTC shares, which, Gemini said, "would completely secure and satisfy the claims of every single" Earn customer – whose money was locked up when Genesis froze withdrawals last year. Source
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BlockFi revealed that it has emerged from bankruptcy court, having received approval for its reorganization plan from all relevant stakeholders. Nearly 11 months after it first declared bankruptcy, the crypto lender BlockFi has now officially begun the process of winding down its operations. In line with this, the company has asked
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Stablecoin Lender Liquity’s Token Gains 80% in Month as Activity Increases Source
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The beleaguered crypto lender was among a rash of digital asset companies that froze their customers’ accounts and eventually collapsed after FTX blew up last fall. The restructuring plan, which more than 90% of creditors approved, will enable BlockFi to recover the assets it lost to crypto exchange FTX and
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The customers of bankrupt cryptocurrency lending platform BlockFi are one step closer to being paid out after a United States Bankruptcy Court in New Jersey approved its liquidation plan.Bankruptcy Judge Michael A. Kaplan approved BlockFi's third amended Chapter 11 plan in a Sept. 26 court hearing, a filing on the
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South Korean Bitcoin lender Delio is reportedly preparing for an administrative lawsuit against regulators for the wrong interpretation of law leading to an investigation and hefty fine against the crypto lending firm.Bitcoin lender Delio said the allegations of fraud and embezzlement levied by the Financial Service Committee (FSC) are baseless,
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“Steve has been a serial entrepreneur and investor for over 25 years, founding and operating companies ranging from internet infrastructure, cloud software, communications, and crypto,” according to a brief resumé included in the court documents, which described him as the proposed CEO of the Delaware corporation, as yet unnamed but
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