Cryptocurrency Analysis and News Portal
A recent filing from the United States Securities and Exchange Commission (SEC) in its lawsuit against crypto miner Green United could shed light on how it may approach the case against Coinbase. On July 31, the SEC scored a win after District Judge Jed Rakoff denied Terraform Lab’s motion to
Read More
Cryptocurrency custody firm Anchorage Digital and major mining manufacturer Bitmain could take equity stakes in Core Scientific as part of the firm’s restructuring plan.According to an Aug. 8 filing in the United States Bankruptcy Court for the Southern District of Texas, Bitmain plans to sell Core Scientific 27,000 S19j XP
Read More
Companies that have lent funds to Core Scientific to buy equipment can elect to either have their claims converted into equity fully, or take on secured debt in the emerging company at 80% of the value of their claims. Only Anchorage Digital, which had a $29 million loan as of
Read More
FTX has outlined its intended reorganization plan, which will categorize claimants of the bankrupt exchange into specific classes and pave the way for it to become operational as an offshore entity. However, a body representing FTX customers said it is “extremely disappointed” by the plan. FTX’s Official Committee of Unsecured Creditors
Read More
BlockFi’s reorganization is gradually progressing, with the company revealing that the United States Bankruptcy Court for the District of New Jersey has conditionally approved its disclosure statement.BlockFi and the Official Committee of Unsecured Creditors jointly issued a statement on Aug. 2, 2023, urging all eligible parties to vote to accept
Read More
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Kraken co-founder Jesse Powell doubts FTX 2.0’s potential to bounce back from bankruptcy. In a tweet, he criticized the proposed recovery plan for the struggling exchange. Powell believes starting from scratch would be a better option claiming
Read More
A body representing FTX customers said it is “extremely disappointed” by the exchange’s draft bankruptcy exit plan and claims it was ignored by FTX’s restructuring team.In a July 31 court filing, FTX’s Official Committee of Unsecured Creditors (UCC) said despite its repeated requests and previous promises from the team, it
Read More
FTX.com has outlined its intended re-organization plan that will categorize claimants of the bankrupt exchange into specific classes and pave the way for the exchange to become re-operational as an offshore entity.Dockets filed on July 31 include a draft plan of reorganization that outlines the company’s intended path to settle
Read More
The government in the Chinese city of Shanghai issued an implementation plan on July 31 for promoting the development of its urban blockchain digital infrastructure system in the time frame of 2023-2025, according to an update on the government’s webpage. The update says that the plans have been formulated in order
Read More
“A system of gambling regulation, in isolation, would be unlikely to address these risk factors” such as the commingling of customer funds alleged of crypto exchange FTX, or correct problems linked to insider trading and market manipulation that are covered by traditional financial regulation, the government added. Source
Read More