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Digivault, which is not involved in the liquidation process, is currently winding down operations, according to the person familiar with the matter. Any buyer would get staff, technology and, for a time, an anti-money laundering registration that comes with the business, the person said. Original Source
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The FTX Contagion effects do not even stop at the largest institutional Bitcoin product on the market, the Grayscale Bitcoin Trust (GBTC). As a result of the bankruptcy of Sam Bankman-Fried’s crypto exchange, the discount to the NAV of Grayscale’s GBTC fund has fallen to around -40%. As recently as the
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John J. Ray III, the new CEO of FTX, cited “the secret exemption of Alameda from certain aspects of FTX.com’s auto-liquidation protocol” among a list of poor security and financial controls that have been uncovered since he took control of the company in the early hours of Nov. 11, shortly
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Yuga Labs, the NFT collective behind the majority of tokens held in the crypto empire’s wallet, has previously raised capital from FTX Ventures, though Alameda Research is in control of the wallet. Source
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The crypto market turmoil entered the third week of September as most of the cryptocurrencies started the week on a bearish note. The total crypto market cap dipped below $1 trillion again, with several cryptocurrencies recording a double-digit downfall over the past 24 hours.The ongoing bearish turmoil has led to
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A judge in the collapsed online bitcoin trading platform Mirror Trading International’s liquidation case has issued a provisional liquidation order that outlines the criteria to be used when reimbursing investors. The order also reportedly directs the liquidators to regard bitcoin “as [an] intangible asset that constitute[s] property.” Claims for Reimbursement Must
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The liquidators of defunct hedge fund Three Arrows Capital have secured a crucial court decision in Singapore that will provide clarity on assets held in the region. Original Source
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Many owners of precious Bored Ape Yacht Club (BAYC) and CryptoPunks nonfungible tokens (NFTs), who used them as collateral to take out loans in Ether (ETH), have failed to repay their debts. The situation could lead up to the NFT sector's first massive liquidation event.gm.As a result of the floor dropping
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Where in the world are Su Zhu and Kyle Davies? Lawyers involved in the liquidation proceedings of Three Arrows Capital’s British Virgin Islands fund would certainly like to know, as the hedge fund founders have not been cooperative in the proceedings so far and their current location is unknown. Original Source
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