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CATEGORY: liabilities


Feb 23, 2025 06:01

Bybit Hack Results in Over $5.3 Billion in Withdrawals: Reserves Exceed Liabilities, According to Hacken

Bybit, a popular cryptocurrency exchange, recently experienced a hack that resulted in unauthorized withdrawals totaling $5.3 billion. Despite the massive breach, Bybit assured its users that their reserves remain secure due to their partnership with cybersecurity firm Hacken. The hack, which occurred on Bybit’s platform, raised concerns about the safety and security of funds on [...]

The post Bybit Hack Results in Over $5.3 Billion in Withdrawals: Reserves Exceed Liabilities, According to Hacken appeared first on Crypto Breaking News.

Mar 18, 2023 10:30

FTX Debtors Reveal $6.8 Billion Hole in Balance Sheet Amidst Financial Discrepancies and Payments to Insiders

According to a presentation recently submitted by the FTX debtors on March 16, Sam Bankman-Fried’s companies had a $6.8 billion hole in their intercompany balance sheet when they filed for Chapter 11 bankruptcy protection. FTX and its conglomerate of firms have debts of around $11.6 billion, including customer claims and various other liabilities. FTX’s $6.8 [...]

The post FTX Debtors Reveal $6.8 Billion Hole in Balance Sheet Amidst Financial Discrepancies and Payments to Insiders appeared first on Crypto Breaking News.

Jun 17, 2023 05:50

Bittrex US Allows Fiat and Crypto Withdrawals Amid Bankruptcy Proceedings

Bittrex US, the now-defunct cryptocurrency exchange in the United States, has recently introduced a plan that permits American customers to withdraw crypto and fiat from the platform, provided they satisfy the required regulatory criteria. This withdrawal arrangement was approved on Tuesday by the U.S. bankruptcy court located in Delaware. Cryptocurrency Exchange Bittrex US Enables Customer [...]

The post Bittrex US Allows Fiat and Crypto Withdrawals Amid Bankruptcy Proceedings appeared first on Crypto Breaking News.

May 13, 2023 10:30

Quadriga CX Customers to Finally Receive Payout: Creditors to Get 13% per Dollar

EY, the global accounting and professional services organization, released a long-awaited update on Friday for the creditors of Quadriga CX. The Canadian cryptocurrency exchange, which had sought bankruptcy protection in 2019 with liabilities of C$215.7 million and assets totaling around C$28 million, had left its creditors in a state of uncertainty. In the latest notice [...]

The post Quadriga CX Customers to Finally Receive Payout: Creditors to Get 13% per Dollar   appeared first on Crypto Breaking News.

Cosmos co-founder proposes peer-to-peer clearing system in white paper

Author: Cointelegraph by Brayden Lindrea
United States
Nov 22, 2024 12:01

Cosmos co-founder proposes peer-to-peer clearing system in white paper

The objective of Cycles is to clear the most debt for the most people with the least money, Informal Systems CEO Ethan Buchman said.

May 09, 2023 05:50

Crypto Exchange Bittrex Enters Chapter 11 Bankruptcy Protection Following SEC Lawsuit

Bittrex Inc., the U.S.-based cryptocurrency exchange, has filed for Chapter 11 bankruptcy protection in Delaware after being sued by the U.S. Securities and Exchange Commission for failing to register with the regulator. The exchange reportedly has over 100,000 creditors and liabilities ranging from $500 million to $1 billion. Bittrex Bankruptcy Filing Reveals Over 100,000 Creditors [...]

The post Crypto Exchange Bittrex Enters Chapter 11 Bankruptcy Protection Following SEC Lawsuit appeared first on Crypto Breaking News.

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