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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 […]
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.
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 [...]
The post FTX Seeks to Claw Back $700M in Lawsuit Over Alleged Funds Misappropriation and Influence-Building Scheme appeared first on Crypto Breaking News.
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)
Millions of dollars worth of electrical equipment will be transferred to the crypto miners' exclusive energy negotiator to settle a payments dispute.
Bankman-Fried has only a matter of days to meet document requirements before his appearance in court next week.
It is understood that BlockFi wants to get bids in as quickly as possible to make the most of the current market conditions.
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.
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.
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.
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.
The DOJ disagrees with the legal protections given to those involved in the Voyager-Binance.US sale saying the court “improperly” exceeded its authority.
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.
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 [...]
The post Metropolitan Museum of Art to return $550K in donations from FTX appeared first on Crypto Breaking News.
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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