Magic Eden Lays Off 22 Staff as Part of Company-Wide Restructuring
Magic Eden Lays Off 22 Staff as Part of Company-Wide Restructuring Original Source
Read More
Restructuring
Celsius‘ motion to extend timeline for restructuring plan faces objection from creditors
The unsecured committee of creditors and others involved in crypto lending firm Celsius’ bankruptcy case have objected to a motion from the debtors delaying a reorganization plan.In separate Feb. 8 court filings, the committee and Withhold account holders as well as the United States Trustee and Celsius borrowers objected to
Read More
Celsius Proposes Bankruptcy Crypto Token Issuance as Part of Restructuring Plans
Embattled crypto lender Celsius plans to use a new bankruptcy digital currency token to pay off its creditors. According to reports, Celsius Network LLC may issue a bankruptcy crypto token to repay creditors. This development forms part of a broader “recovery corporation” scheme by the bankrupt crypto lender to remerge as
Read More
Yellen’s Comments on Zambia’s Debt Restructuring Draw Criticism From Chinese Embassy – Economics Bitcoin News
The Chinese embassy in Zambia denounced the United States over its debt limit and the “extraordinary measures” Treasury secretary Janet Yellen has implemented to stave off a U.S. debt default. Yellen said on Monday that it was very important that Zambia restructure its debt, but Zambia sees it differently. The
Read More
Celsius Proposes Restructuring to Offer One-Time ‘Meaningful Recovery’ Payout for Most Creditors
“[The distribution] would be at a discount. We’re not envisioning a full recovery, but it’s a meaningful recovery, Your Honor,” said Ross Kwastaniet, a lawyer for Kirkland & Ellis, the white-shoe law firm representing Celsius. “It would be a one-time distribution in liquid crypto – call it bitcoin, ethereum or
Read More
Crypto Lender Vauld Gets Another Extension for Submitting Restructuring Plan: Bloomberg
Vauld has received bids from two digital asset fund managers to take over the beleaguered lender after talks with Nexo broke down. Original Source
Read More
Hodlnaut Creditors Seek Liquidation, Reject Restructuring Plan: Bloomberg
The proposed restructuring plan would have allowed Hodlnaut directors who were at the helm during its collapse to continue managing the company. Liquidation would "maximize the company's remaining assets available for distribution," one of the creditors, Algorand Foundation, wrote in the filing. Source
Read More
Bitcoin Miner Stronghold Continues Debt Restructuring With Convertible Preferred Share Issuance
The preferred shares will be convertible into common stock at a conversion price of $0.40 per share. If all the preferred stock is converted, about 57.8 million shares of common shares would be issued, adding about 46% to the current common float, according to the company. The new preferred stock
Read More
Bitcoin Miner Greenidge Enters Non-Binding Debt Restructuring Deal With NYDIG – Mining Bitcoin News
The bitcoin mining operation Greenidge Generation Holdings Inc. has executed a restructuring deal with NYDIG, according to an announcement published on Tuesday. According to the non-binding term sheet agreement, NYDIG will obtain 2.8 exahash per second (EH/s) of Greenidge’s mining capacity, and Greenidge further entered into a hosting deal with
Read More
Auros Global expects to resume regular operations following restructuring plan
Cryptocurrency trading firm Auros Global, which reportedly suffered a $20 million dollar exposure in the FTX collapse, has released a statement saying it plans to resume regular operations after implementing a restructuring plan. Statement from Auros regarding recent references in the media – pic.twitter.com/9RFHhYjHqz— Auros (@Auros_global) December 20, 2022 Following the collapse
Read More