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A proposal floated by P2P Validator, the developers who built the product on Lido in early September, revealed that they took losses of over $480,000 in the past year against the $700,000 spent to build the product. It shared concerns about being unable to achieve objectives in the next year,
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The creditors involved in the Celsius bankruptcy case have voted in favor of a plan that will see funds returned to them as well as distributing equity through a new company.According to a Sept. 25 filing from bankruptcy firm Stretto, most of the classes voted in favor of the plan
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Algorithmic stablecoins like USTC are backed by a basket of assets, such as LUNA and bitcoin (BTC), without depending on any centralized third party to hold those assets. Most of the tokens, however, fall victim to a “death spiral” – with outflows or sales of backing assets causing a sudden
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Vote if You Want, but Remember 'Cypherpunks Write Code' Source
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Currently, accounting rules only let companies record increases in the value of their digital assets when they sell them – though losses are reflected at least once a year. But, on Wednesday, the Financial Accounting Standards Board (FASB) voted to take another path, letting companies use fair-value accounting that allows
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Creditors will be sent ballots to vote on the plan, involving the sale of assets to a consortium including Arrington Capital and miner U.S. Bitcoin Corp, between Aug. 24 and Sept. 22. Returns for creditors – which will largely be done in bitcoin (BTC) and ether (ETH) – could range
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied BlockFi announces the start of its Chapter 11 solicitation period, allowing creditors to vote on the bankruptcy plan. Blockfi has announced via Twitter that the solicitation period for creditors under Chapter 11 has begun. During this time,
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Bankrupt crypto lender Celsius can start sending out ballots to its customers for a vote on a proposed settlement plan that would see a consortium called Fahrenheit buy Celsius’ assets and launch a new company. That company would distribute Celsius assets and equity in the new company to its customers. Judge
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If passed – voting ends Tuesday – the governance proposal will reduce the amount of DYDX given to liquidity providers per epoch to 575,342, a 50% decrease that amounts to about $1 million at current prices. Antonio Juliano, dYdX’s founder, said on X (the site formerly known as Twitter) that
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Original investors of Parrot and PRT can expect to recover about a tenth of the value they put in. Newcomers, particularly the activist investors who pressured Parrot’s leaders for a redemption program, could make many multiples, depending on when they bought in. Source
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