Cryptocurrency Analysis and News Portal
SAS will leave exchanges as part of its restructuring deal, in addition to splitting equity and debt among members of a takeover consortium. Scandinavian Airlines (SAS) stock fell on Wednesday morning after the company announced a restructuring deal. As markets opened, SAS stock crashed 95% in reaction to an official
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The United States Securities and Exchange Commission (SEC) has filed an objection to Celsius Network’s reorganization plan based in part on the regulator’s own ongoing lawsuit with crypto exchange Coinbase.In a Sept. 22 filing in U.S. Bankruptcy Court for the Southern District of New York, the SEC filed a limited
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Evergrande has informed the Hong Kong Stock Exchange that it intends to delay a restructuring meeting because things are not going as planned. Shares of Chinese real estate company Evergrande Group fell up to 22% on Monday after the firm announced it would delay a debt restructuring meeting due today. According
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Bad actors have flooded X, impersonating the bankruptcy claim agent for Celsius to scam claimants. Celsius users are targeted by a potential phishing email attack as the final court approval of its restructuring plan is anticipated on Oct. 2. Several users reported on X they had received phishing emails pretending to be
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After 16 years of service to the firm, Zhang is ready to move on to the next career phase. Alibaba expressed gratitude for his work at the company. In a surprising turn of events on Sunday, Daniel Zhang, the former chief executive and chairman of Chinese tech giant Alibaba Group, has
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Vauld, a Singapore-based crypto exchange, that has been ongoing bankruptcy proceedings since August 2022, has said that it received permission from the court to restructure its board. The new top management will lead the company’s bailout process. On Aug. 24, Vauld’s co-founder Darshan Bathija revealed on X (former Twitter), that the
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FTX debtors led by chief restructuring officer John J. Ray III have expressed disapproval of traders and market makers within the Official Committee of Unsecured Creditors (UCC) who are aiming to gain authority over assets. They believe the UCC’s plan to invest nearly $2.6 billion in cash reserves in short-term
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The lawyers argued that this would "require relief from this Court," they would be faced with a separate risk of commingling of their treasury investments, and the step "creates a risk of loss in the event of a need for rapid monetization, or the lack of liquidity in the surety
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Publicly traded Bitcoin (BTC) miner Core Scientific has appointed Adam Sullivan its CEO. Sullivan, who previously served as the company’s president, took the role on Aug. 4, while co-founder and former CEO Mike Levitt remains chairman of the board.Sullivan has over a decade of financial services experience, particularly in digital
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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
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