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FTX Bankruptcy Claims Surge in Value: Bids Now Approach 93 Cents on the Dollar

FTX Bankruptcy Claims Surge in Value: Bids Now Approach 93 Cents on the DollarHalf a year ago, firms specializing in acquiring troubled companies and their debts were actively accumulating FTX bankruptcy claims worth millions, offering $0.33 for every dollar of claim. Presently, the valuation of these claims has significantly appreciated, with buyers now prepared to offer $0.93 on the dollar for each claim. FTX Bankruptcy Claims Now Worth […]

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New Research Paper Sheds Light on Alleged Conflicts of Interest in FTX’s Chapter 11 Filing

New Research Paper Sheds Light on Alleged Conflicts of Interest in FTX’s Chapter 11 FilingA recent research paper on SSRN by legal scholars scrutinizes the ethical quandaries and potential conflicts of interest surrounding Sullivan & Cromwell LLP’s involvement in FTX’s Chapter 11 bankruptcy filing. Study Highlights Legal Ethics From FTX Bankruptcy Proceedings The SSRN research paper entitled “Conflicting Public and Private Interests in Chapter 11” meticulously explores the controversial […]

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FTX to Sell Subsidiary Acquired for $10M to Coinlist for $500K Amid Bankruptcy Proceedings

FTX to Sell Subsidiary Acquired for M to Coinlist for 0K Amid Bankruptcy ProceedingsFTX Trading Ltd. and its affiliates have announced a plan to sell a subsidiary it acquired for $10 million to Coinlist for $500,000, court documents filed on Feb. 9, 2024 show. The latest motion, filed in the United States Bankruptcy Court for the District of Delaware, details the proposed sale in order to maximize the […]

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Embattled Crypto Lender Celsius Escapes Chapter 11 Bankruptcy, To Distribute $3 Billion in Crypto to Creditors

Embattled Crypto Lender Celsius Escapes Chapter 11 Bankruptcy, To Distribute  Billion in Crypto to Creditors

Troubled crypto lending platform Celsius has avoided Chapter 11 bankruptcy with a plan to pay back its creditors billions of dollars. In a new press release, the embattled crypto firm announced yesterday that it has successfully emerged from bankruptcy with the intention of paying back its creditors $3 billion worth of crypto assets and fiat […]

The post Embattled Crypto Lender Celsius Escapes Chapter 11 Bankruptcy, To Distribute $3 Billion in Crypto to Creditors appeared first on The Daily Hodl.

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FTX Estate Selling Crypto, Hoarding Cash To Pay Out Customer Claims: Report

FTX Estate Selling Crypto, Hoarding Cash To Pay Out Customer Claims: Report

The bankruptcy estate of former crypto exchange FTX is reportedly selling off billions of dollars worth of crypto assets and hoarding cash to pay out customers it owes money to. According to a new report by Bloomberg, FTX has begun selling digital assets as a means of repaying customers who had their accounts frozen during […]

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Crypto Company Terraform Labs Files for Chapter 11 Bankruptcy Protection

Crypto Company Terraform Labs Files for Chapter 11 Bankruptcy Protection

Collapsed crypto company Terraform Labs has filed for Chapter 11 bankruptcy in the United States. The firm submitted a voluntary petition to the U.S. Bankruptcy Court for the District of Delaware. The document, which was filed on Sunday, indicates Terraform Labs has between 100-199 creditors, owns between $100,000,001-$500 million in estimated assets, and owes between […]

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Crypto Asset Management Firm Sells $65,000,000 Claim in FTX Bankruptcy, According to CIO

Crypto Asset Management Firm Sells ,000,000 Claim in FTX Bankruptcy, According to CIO

A top executive of a crypto asset management firm says that the company has sold its multi-million dollar claim in FTX’s bankruptcy. In a lengthy thread, Ikigai Asset Management chief investment officer Travis Kling tells his 98,100 followers on the social media platform X that the firm sold its $65 million claim in FTX’s bankruptcy […]

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Hut 8 signs deal to develop new mining site to build equity with Celsius creditors

Hut 8’s new mining site in Cedarvale, Texas, will house almost 66,000 miners and will be powered by more than 215 MWof energy.

The Canadian Bitcoin mining firm Hut 8 has signed an interim agreement to launch a new mining site in Cedarvale, Texas, in connection with the Celsius Network bankruptcy proceedings.

Announcing the news on Dec. 18, Hut 8 said that the mining site will house almost 66,000 miners and will be powered by more than 215 megawatts (MW) of energy.

Hut 8 president Asher Genoot said that the agreement targets a “twofold” goal, which is to build equity with creditors of Celsius while also growing the strength of the managed services business. “We anticipate having more than 895 MW of infrastructure under our umbrella once the site is up and running,” the executive noted.

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Crypto Company SafeMoon Files for Bankruptcy Following Founder and Executives’ Indictment on Fraud Charges Last Month

Crypto Company SafeMoon Files for Bankruptcy Following Founder and Executives’ Indictment on Fraud Charges Last Month

Blockchain firm SafeMoon is filing for bankruptcy after its founder and two executives were indicted on fraud charges in November. According to a recent document, the crypto company voluntarily filed for Chapter 7 bankruptcy over a month after founder Kyle Nagy, chief technology officer Thomas Smith and chief executive Braden Karony were accused of violating […]

The post Crypto Company SafeMoon Files for Bankruptcy Following Founder and Executives’ Indictment on Fraud Charges Last Month appeared first on The Daily Hodl.

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FTX and Alameda move $23.59M in assets to Binance, Coinbase, OKX

The latest transfer of $23.59 million was spread across 19 tokens, including ETH, ALEPH, CRV, AVAX, LINK, DOGE, MATIC, UNI, and SOL.

In four days, wallets linked to defunct crypto trading firms FTX and Alameda Research moved $23.59 million worth of digital assets to top cryptocurrency exchanges.

Blockchain analytics firm Spot On Chain identified the movement, estimating that the defunct entities have transferred $591 million since Oct. 24 using 59 different cryptocurrency tokens.

The wallets linked to FTX spread the latest transfer of $23.59 million across 19 tokens: 3,150 ETH  valued at $6.8 million, 59.6 million ALEPH (ALEPH) worth $6.41 million, $2.48 million in Curve (CRV), $990,000 in Avalanche (AVAX), and $848,000 in Chainlink (LINK).

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