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CryptoCurrency

FTX Sues Binance and CZ for $1.8 Billion in Stock Buyback Dispute

  • The FTX estate claims FTX and Alameda were insolvent in 2021, making the deal invalid.
  • Sam Bankman-Fried sold about 20% of FTX International and 18.4% of FTX US to Binance.
Monday, 11/11/2024 | 09:31 GMT by Tareq Sikder
CryptoCurrency

FTX's Alameda Research Sues KuCoin to Recover $50 Million in Frozen Assets

  • The lawsuit claims KuCoin holds funds belonging to FTX’s estate, intended for creditor repayments.
  • Filed in Delaware, the lawsuit follows FTX's recent asset recovery from Bybit.
Tuesday, 29/10/2024 | 18:03 GMT by Tareq Sikder
CryptoCurrency

FTX and CFTC Settle 19-Month Lawsuit for $12.7 Billion, Pending Court Approval

  • The settlement includes $8.7 billion in restitution and $4 billion in disgorgement.
  • The CFTC did not seek a civil penalty because FTX already faces significant liability.
Wednesday, 17/07/2024 | 08:52 GMT by Tareq Sikder
CryptoCurrency

Bitflyer Takes the Reins: Acquiring FTX Japan amid Bankruptcy Fallout

  • Unlike its parent company, FTX Japan reported a surplus of assets compared to liabilities.
  • Bitflyer ranks 22nd globally in crypto exchange volume, with notable BTC/JPY trading.
Thursday, 20/06/2024 | 16:01 GMT by Tareq Sikder
Retail FX

FlowBank Enters Bankruptcy Proceedings Following FINMA Decision

  • Clients with Swiss account deposits will receive up to CHF 100,000 in reimbursement.
  • All contracts including financial agreements, are terminated immediately.
Thursday, 13/06/2024 | 13:13 GMT by Tareq Sikder
Regulation

Regulator's Three-Year Concerns Lead to This Trading Firm's Bankruptcy Proceedings

  • FINMA has initiated bankruptcy proceedings against FlowBank, a Swiss online broker.
  • The bank failed to maintain minimum capital requirements and potential over-indebtedness
Thursday, 13/06/2024 | 08:29 GMT by Damian Chmiel
Trending

FTX Has the Funds, But Creditors Claim Payout Is “Insulting”

  • Are customers’ holdings being undervalued?
  • Get out while the going’s good, or fight for more?
  • What’s sure is that the IRS is still getting its slice.
Friday, 10/05/2024 | 07:05 GMT by Louis Parks
Retail FX

Republic First Bank Failure to Cost $667 Million, Estimates FDIC

  • US regulators have seized control of Republic First and facilitated its sale to Fulton.
  • The acquisition aims to protect depositors and ensure a seamless transition for customers.
Monday, 29/04/2024 | 07:12 GMT by Damian Chmiel
CryptoCurrency

SafeMoon Unravels: Files for Bankruptcy amid Executives' Arrests

  • The firm’s top executives face fraud and money laundering charges.
  • Following the bankruptcy report, SafeMoon's token plunged more than 40%.
Friday, 15/12/2023 | 13:19 GMT by Jared Kirui
Retail FX

Russia's SPB Exchange Battles Fraudulent Bankruptcy Claims: Report

  • The alleged fraudulent claims caused SPB Exchange's shares to plummet.
  • The Moscow Arbitration Court declined to acknowledge the bankruptcy filings.
Monday, 27/11/2023 | 20:33 GMT by Jared Kirui
CryptoCurrency

FTX and BlockFi Granted Court Approval to Resume Claims Settlement

  • BlockFi's CEO, Zac Prince, recently testified against Sam Bankman-Fried.
  • Prince mentioned that BlockFi was affected by the collapse of FTX.
Tuesday, 14/11/2023 | 16:16 GMT by Jared Kirui
CryptoCurrency

FTX Bankruptcy Saga: Lawsuit Targets Bybit's Investment Arm

  • Bybit's Mirana Corp received $837 million before FTX's Chapter 11 bankruptcy.
  • The firm is persisting in withholding funds from FTX, prolonging the legal dispute.
Monday, 13/11/2023 | 10:35 GMT by Tareq Sikder
CryptoCurrency

Celsius Network Obtains US Bankruptcy Court Approval for Restructuring

  • The reorganized business plans to focus on mining Bitcoin and earning staking fees.
  • Celsius' customers will receive $2 billion in cryptocurrency.
Friday, 10/11/2023 | 20:20 GMT by Jared Kirui
CryptoCurrency

BlockFi's Recovery Plan: What's Next for Crypto Investors?

  • BlockFi has revealed its post-bankruptcy recovery plan.
  • The Wallet withdrawal window is scheduled to close on December 31.
Wednesday, 25/10/2023 | 06:31 GMT by Tareq Sikder
CryptoCurrency

Genesis’ Exit: Crypto Lender Shuts Down All Trading Operations

  • The crypto lender is handling disputes with FTX and Gemini.
  • The closure of its operations affects both U.S. and international trading desks.
Thursday, 14/09/2023 | 17:57 GMT by Jared Kirui
CryptoCurrency

Former Algorand CEO Steve Kokinos Appointed CEO of Firm Acquiring Celsius

  • The crypto lender’s board includes executives from WeWork, Lehman Brothers, and USBTC.
  • Celsius' creditors are voting on a potential revival of the lender until September 2022.
Monday, 11/09/2023 | 19:14 GMT by Jared Kirui
CryptoCurrency

FTX Unveils Billions in Assets, including $1.6B in Solana and $560M in Bitcoin

  • FTX's executives allegedly received $2.2 billion before the company collapsed.
  • A court document reveals the company’s extensive real estate portfolio in the Bahamas.
Monday, 11/09/2023 | 16:30 GMT by Jared Kirui
CryptoCurrency

DCG’s Payment Plan on Shaky Ground as Genesis Lender Group Objects

  • The Ad Hoc Group called the agreement "wholly insufficient."
  • DCG proposed paying $830M seven years after Genesis' Chapter 11 plan becomes effective.
Wednesday, 30/08/2023 | 16:21 GMT by Solomon Oladipupo
CryptoCurrency

Genesis Rebound? DCG Agrees to In-Principle Deal Offering Up to 90% Recovery

  • The agreement between DCG and Genesis' creditors offers 70-90% recovery in USD equivalent.
  • Genesis filed for bankruptcy following FTX's collapse after halting withdrawals last year.
Tuesday, 29/08/2023 | 10:16 GMT by Jared Kirui
CryptoCurrency

FTX, BlockFI and Genesis’ Customer Data Exposed in “SIM Swapping Attack”

  • The crypto exchange, FTX said compromised customer data is “non-sensitive.”
  • However, the firm urged customers to be on high alert for scam emails.
Friday, 25/08/2023 | 18:36 GMT by Solomon Oladipupo
CryptoCurrency

Court Permits “Unlimited” Access to Jailed Bankman-Fried for Trial Preparation

  • The permission falls short of the FTX Founder's lawyers' request.
  • FTX's bankruptcy estate wants to onboard Galaxy for guidance on crypto holding.
Thursday, 24/08/2023 | 14:50 GMT by Solomon Oladipupo
CryptoCurrency

From Bankruptcy to Strategy: FTX Partners with Galaxy to Maximize Value for Creditors

  • The failed exchange aims to sell, stake, and hedge its USD $3 billion crypto holdings.
  • The collaboration aims to prevent an abrupt drop in the price of crypto assets.
Thursday, 24/08/2023 | 10:01 GMT by Jared Kirui
CryptoCurrency

FTX Updates Settlement Terms for 'Small Estate Claims' after US Trustee's Disapproval

  • The exchange criticized the US Trustee for objecting to the settlement.
  • Meanwhile, FTX and Genesis recently agreed to a payment of $175 million to resolve their dispute.
Monday, 21/08/2023 | 13:35 GMT by Solomon Oladipupo
CryptoCurrency

Bankrupt BlockFi Gets Court’s Backing, Enables Withdrawal for US Customers

  • The firm looks forward to permitting withdrawal for international clients.
  • BlockFi had exposure of $1.2 billion to FTX and Alameda Research.
Thursday, 17/08/2023 | 19:27 GMT by Solomon Oladipupo
CryptoCurrency

Prime Trust Unravels: Files for Bankruptcy after Acquisition Intent Fails

  • The regulators shut the crypto custodian due to alleged fiduciary breaches.
  • Former Bank of Nevada's President to lead restructuring efforts.
Tuesday, 15/08/2023 | 18:13 GMT by Jared Kirui
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