Genesis, the struggling loan company since the FTX incident, is finally set to file for bankruptcy. The situation comes after multiple statements between the CEO of the company and the Winklevoss brothers who manage the Gemini platform. Not yet official Despite relative calm in the cryptocurrency market for the past few days, with bitcoin above … Read more
information item Author, Monica Miller Role, BBC News January 13, 2023 Photo credit, Getty Images image caption, Former FTX CEO Sam Bankman-Fried. The collapsed FTX cryptocurrency exchange has located more than $5 billion in assets, according to a lawyer for the firm. However, a US bankruptcy court was told on Wednesday that the extent of … Read more
The native token of embattled crypto broker Voyager Digital (VGX) is surging as rumors of a potential takeover continue to swirl. According to a recent company presentation, numerous companies, including AlamedaFTX, the digital asset hedge fund of cryptobillionaire Sam Bankman-Fried, have expressed interest in buying Voyager’s assets. News of a potential buyout sent VGX skyrocketing … Read more
New Jersey-based Celsius Network is the latest to announce voluntary bankruptcy due to illiquid balance sheets. Celsius has filed Chapter 11 cases that would provide the best opportunity to stabilize its business and complete a comprehensive restructuring operation that maximizes value for all stakeholders. Last week, when filing for bankruptcy in court, the stock exchange … Read more
A Securities Exchange Commission disclosure filed by popular cryptocurrency exchange Coinbase has shed light on the question of what would happen if Coinbase or a similar cryptocurrency exchange files for bankruptcy protection. In an SEC 10-Q form filed in May, Coinbase disclosed that, under bankruptcy proceedings, more than $250 billion in fiat and cryptocurrencies held … Read more
“Like a hammer wanting everything to be a nail, the SEC is keeping everything in the dark so they can say that every crypto is a security,” says Ripple General Counsel Stu Alderoty. Ripple’s General Counsel, Stu Alderoty, has criticized the United States Securities and Exchange Commission (SEC) for attempting to “bully, bulldoze and bankrupt” … Read more
In the extremely volatile world of cryptos, businesses become worthless within days and investors lose money overnight have become the norm. But what is more worrying is that investors are left without a recovery mechanism if the stock exchanges, where they store their funds, go bankrupt. In such a case, the value of all their … Read more