Terraform Labs to reopen Shuttle Bridge, destroy LUNA tokens

These developments indicate TFLs proactive efforts to tackle Terras challenges and restore trust and stability within the ecosystem.

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400,000 FTX Users Risk Losing Repayments If KYC Isnt Completed

Almost 400,000 individuals who are owed money by the collapsed crypto platform FTX stand a chance to lose access to a combined $2.5 billion in repayments due to not starting the required Know Your Customer (KYC) process verification that was to end on the 3rd of March.  On the 2nd of April, a court filing […]

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Crypto Lender Genesis Requests US Bankruptcy Court to Approve Settlement Principle

The insolvent cryptocurrency lender, Genesis, has petitioned a U.S. bankruptcy court to approve a proposed settlement principle announced on Feb. 28. According to an update, if the court approves the settlement, Genesis Earn users will receive all of their digital assets back in kind. The bankruptcy court is scheduled to consider Genesis request to approve [...]

The post Crypto Lender Genesis Requests US Bankruptcy Court to Approve Settlement Principle appeared first on Crypto Breaking News.

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FTX Seeks to Claw Back $700M in Lawsuit Over Alleged Funds Misappropriation and Influence-Building Scheme

According to a lawsuit filed this week with the U.S. Bankruptcy Court for the District of Delaware, FTX lawyers are seeking to claw back $700 million from K5 Global Technology, its subsidiaries, and the firm’s founders. The attorneys allege that the defendants received funds without undergoing any due diligence, and FTX did not obtain “equivalent [...]

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Former US Secret Service Officer Warns of FTX Customer Targeting Risk

Former US Secret Service officer Jeremy Sheridan has cautioned that the release of personal information of FTX customers could make them potential targets for identity and asset theft. Sheridan supported a motion from FTX debtors to withhold the confidential information of customers associated with the failed crypto exchange. (Read More)

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Core Scientific to transfer $20M of equipment to settle bankruptcy dispute

Millions of dollars worth of electrical equipment will be transferred to the crypto miners' exclusive energy negotiator to settle a payments dispute.

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Voyager creditors serve SBF a Subpoena to appear in court for a ‘remote deposition’

Bankman-Fried has only a matter of days to meet document requirements before his appearance in court next week.

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BlockFi gets court nod to sell crypto mining assets

It is understood that BlockFi wants to get bids in as quickly as possible to make the most of the current market conditions.

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Genesis eyes fast resolution to creditor disputes and bankruptcy exit in May

A lawyer for Genesis is optimistic it can resolve creditor disputes before the week is out while the firm could exit bankruptcy proceedings in four months.

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Bankrupt Crypto Firm Voyager Digital Approved to Release $270 Million in Cash Deposits

The now defunct and bankrupt Voyager Digital has been approved by the court to distribute $270 million in funds to creditors and affected customers. The news follows the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board ordering Voyager to remove any statements that allege Voyager is FDIC insured. The U.S. Bankruptcy Court in More

The post Bankrupt Crypto Firm Voyager Digital Approved to Release $270 Million in Cash Deposits appeared first on BTC Ethereum Crypto Currency Blog.

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Voyager to return $270M in customer funds, says it received 'better' offers than FTX

The crypto lender will be allowed to return a portion of customer funds locked up at the Metropolitan Commercial Bank which have been frozen until now.

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Blockfi Announces Self-Liquidation Plan After Failed Attempts to Sell Company

The now-defunct crypto lender Blockfi has recently filed a court document outlining its plans to liquidate the company. The firm has come to the realization that selling the company would not be beneficial to its creditors. As a result, Blockfi has decided to take matters into its own hands and proceed with a self-liquidating transaction. [...]

The post Blockfi Announces Self-Liquidation Plan After Failed Attempts to Sell Company appeared first on Crypto Breaking News.

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US officials appeal protections for Voyager execs in Binance.US sale

The DOJ disagrees with the legal protections given to those involved in the Voyager-Binance.US sale saying the court “improperly” exceeded its authority.

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FTX financial controls were a ‘hodgepodge’ of apps, says court filings

FTX was run by three inexperienced people “not long out of college,” who relied on “a hodgepodge” of online shared documents and communications across a series of different apps to manage the multi-billion dollar empire according to FTX CEO John Ray III. In an April 9 court filing in a Delaware Bankruptcy Court, John J [...]

The post FTX financial controls were a ‘hodgepodge’ of apps, says court filings appeared first on Crypto Breaking News.

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Metropolitan Museum of Art to return $550K in donations from FTX

The Metropolitan Museum of Art (Met) is set to return $550,000 in donations it received from crypto exchange FTX prior to its collapse in November. The New York-based museum confirmed its intention to repay the funds to FTX debtors in a filing to the United States Bankruptcy Court in Delaware on June 2 — the [...]

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Court approves BlockFi's disclosure statement conditionally

BlockFi Inc. and its affiliates announced that the United States Bankruptcy Court for the District of New Jersey conditionally approved the company's Disclosure Statement on August 2, 2023. (Read More)

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