Tag: Bankruptcy

While inflation has an effect on the price of Bitcoin, researchers were bewildered by bitcoins resilience to other macroeconomic factors. The collapse of FTX and related developments did more to pull up or push down the price of Bitcoin throughout Q4, compared to macroeconomic events such as rate hikes, according to research. In a “State of…

Digital Currency Group (DCG) plans to hand its equity stake in Genesis’ trading arm to Genesis Global, which will then be sold, pending court approval. A Genesis creditor has revealed the new proposed restructuring plan between Genesis, Digital Currency Group and creditors will see creditors getting back at least 80% of their funds. On Feb….

John Ray said when he took control of FTX in November 2022, there was a “massive scramble for information” related to the exchange’s funds, insurance and personnel. John Ray, who took over as CEO of crypto exchange FTX, has described some of the chaotic experiences at the firm following the company declaring bankruptcy. In testimony…

The bankruptcies of once high-profile crypto players are “painful” but helpful, according to Michael Saylor, but industry oversight is still needed. High-profile crypto bankruptcies and a hearty price crash are necessary evils to help the industry grow, while greater regulation is a must, according to MicroStrategy co-founder Michael Saylor. In a Feb. 3 interview on CNBC’s Squawk…

Sam Bankman-Fried lawyers claim he was not involved in previous unauthorized transactions, and should have access to company assets. Sam Bankman-Fried’s legal team is seeking to remove a bail condition that prevented him from accessing FTX’s funds, according to court filings from Jan. 28. A letter from Bankman-Fried’s lawyer, Mark Cohen, to United States District Court Judge…

How much exposure does BlockFi have to Sam Bankman-Fried failed enterprises? A lot, according to accidentally leaked financials. Crypto lender BlockFi has had a highly tumultuous 12 months. After getting caught up in the Terra fiasco, which resulted in one of the most prolific asset death spirals of all time, the company managed to avoid bankruptcy after receiving…