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.

View Details

OpenAI pledges to remain a non-profit organization and abandon plans for major restructuring

OpenAI has announced its decision to remain a nonprofit organization, abandoning its previous plans to convert into a for-profit entity. The company, known for its groundbreaking work in artificial intelligence (AI) development, had initially considered transitioning to a commercial model. However, after careful consideration, OpenAI has opted to stay true to its core mission of [...]

View Details

Binance France changes ownership following regulator warning

Former CEO Changpeng Zhao cannot be Binance's beneficiary if it wants to keep its French license.

View Details

AI safety researchers leave OpenAI over prioritization concerns

Following the recent resignations, OpenAI has opted to dissolve its Superalignment team and integrate its functions into other research projects within the organization.

View Details

Core Scientific moves for September bankruptcy exit, expects $46M boost

Core Scientific said favorable market conditions have increased its liquidity position and its bankruptcy restructuring plan has been revised.

View Details

Bankrupt Crypto Exchange FTX Continues to Explore Potential Relaunch, Court Records Reveal

Recently submitted court records in the FTX insolvency case reveal that the exchange’s new CEO, John Ray III, has been exploring a revival plan for the now-disabled trading platform and the “preliminary formation of restructuring strategies.” FTX’s Revival Prospects Surface as New CEO Explores Reboot Plans and Bidder List The current CEO and main restructuring [...]

The post Bankrupt Crypto Exchange FTX Continues to Explore Potential Relaunch, Court Records Reveal appeared first on Crypto Breaking News.

View Details

Head of Venezuelan Crypto Watchdog Sunacrip Arrested on Alleged Corruption Charges; Institution to Face Restructuring

Joselit Ramirez, head of the Venezuelan cryptocurrency authority Sunacrip, was arrested on March 18, according to reports from local media. Ramirez, who led the institution from its creation in 2018, was arrested for being allegedly involved in corruption schemes, including the embezzlement of $3 billion related to unregistered oil sales. Sunacrip Boss Joselit Ramirez Arrested [...]

The post Head of Venezuelan Crypto Watchdog Sunacrip Arrested on Alleged Corruption Charges; Institution to Face Restructuring appeared first on Crypto Breaking News.

View Details

CoinFLEX restructuring plan approved: FLEX price explodes | Invezz

The price of FLEX (FLEX/USD), the native token of cryptocurrency exchange CoinFLEX, has soared to a daily high of $2.06. The sudden surge came against the backdrop of CoinFLEX getting approval for a restructuring plan it filed in August last year. The exchange suspended withdrawals in June last year citing a liquidity crunch. The approval ...

Read more

<p>The post CoinFLEX restructuring plan approved: FLEX price explodes | Invezz first appeared on CCNC.</p>

View Details

Babel Finance explores new restructuring opportunities with DeFi project

Babel Finance is considering a new restructuring opportunity that involves the creation of a new decentralized finance (DeFi) project called Hope. This project aims to generate revenue to repay debts owed to creditors, and will mint a new stablecoin using Bitcoin and Ether as collateral. (Read More)

View Details

Binance.US restructuring plan favored by 97% of Voyager customers

An overwhelming majority of Voyager account holders want Binance.US to buy out the firm’s assets.

View Details

Crypto lender Genesis has no solution yet for withdrawal halts

Genesis said it will take additional weeks to carve out a recovery path for its lending business.

View Details

CoinFlex Creditors Backs Company's Restructuring Plans

CoinFlex may be getting headway with respect to its restructuring plans as the majority of its creditors are backing the idea as revealed in early voting. (Read More)

View Details

Zipmex Appoints Restructuring Firm Kordamentha To Work on Recovery Plan

Zipmex said it has appointed restructuring specialist as its financial advisor. KordaMentha is expected to help Zipmex establish a restructuring process. (Read More)

View Details

Babel Finance Hires Restructuring Specialist Houlihan Lokey: Sources

Babel Finance has tapped restructuring specialist Houlihan Lokey to explore options for reworking its debt. The firm faces financial difficulties triggered by the current extreme market conditions. (Read More)

View Details

Venezuelan Crypto Ecosystem Still in Shambles 4 Months After Sunacrip Intervention

The Venezuelan cryptocurrency ecosystem remains on shaky ground four months after the intervention of national crypto watchdog Sunacrip, and the arrest of its head, Joselit Ramirez, due to alleged participation in a $20 billion corruption scandal involving the undeclared sale of crude oil for crypto. There have been no official updates from Sunacrip’s restructuring board, [...]

The post Venezuelan Crypto Ecosystem Still in Shambles 4 Months After Sunacrip Intervention appeared first on Crypto Breaking News.

View Details

SEC Sues Bankrupt Crypto Lender Celsius, Alleges Misrepresentation of Customer Count and Risky Practices

The U.S. Securities and Exchange Commission has filed a lawsuit against the now-defunct cryptocurrency lender, Celsius. The suit, filed Thursday, also names former CEO Alexander “Alex” Mashinsky as a defendant. Both he and the company stand accused of falsely promising investors a safe investment with high returns. Bankrupt Crypto Lender Celsius Accused by SEC of [...]

The post SEC Sues Bankrupt Crypto Lender Celsius, Alleges Misrepresentation of Customer Count and Risky Practices appeared first on Crypto Breaking News.

View Details

Zambia’s crypto regulation tests to be wrapped by June: Report

Cryptocurrency regulation tests aiming to help shape crypto laws in Zambia that simulate the real-world use of crypto are on track to finish by June. In an April 12 Reuters interview, Zambia’s innovation, science and technology minister, Felix Mutati, said the purpose of conducting the tests was to help the government “see what would happen [...]

The post Zambia’s crypto regulation tests to be wrapped by June: Report appeared first on Crypto Breaking News.

View Details

Kraken restructures with new co-CEO, layoffs reported

Kraken hinted that its managerial structure would be reformed, without explaining the details.

View Details

Consensys to cut workforce by 20% CEO outlines decentralization plans

Consensys CEO Joe Lubin confirmed that the firms restructuring plan will impact 162 permanent employees.

View Details

Celsius Network to File Disclosure Statement for Restructuring Plan

Crypto lender Celsius Network will file a disclosure statement on April 12 regarding its Chapter 11 restructuring plan. The statement is aimed at providing adequate information for claim holders to vote on the proposed plan, which would create a public platform fully owned by Earn creditors called NewCo. The committee of unsecured creditors will appoint the majority of the firm’s board members, with no Celsius founder involvement or relationship. (Read More)

View Details