Celsius Wins Ownership of $4.2B Worth of Customers’ Funds
A new update regarding the Celsius bankruptcy case came on Jan. 4 as Judge Martin Glenn ruled that the funds deposited to Earn Accounts, which amount to $4.2 billion, are the property of Celsius, not the investors.
Celsius Bankruptcy Case ‘Administrative Expenses’ Add Up to $53M
Lawyers, advisers, and bankers involved in the Celsius bankruptcy case collectively earned $53 million as administrative expenses in four months, as reported by the Financial Times.
FTX Used Client Assets for Margin Trading at Alameda, Confirms Bankruptcy Lawyer
Ray said that FTX customers’ assets were used by Alameda Research for margin trading, confirming a long-held suspicion about the two companies that former boss Sam Bankman-Fried (SBF) has been hesitant to admit.
FTX Gets Approval To Pay Critical Vendors, Can Redact Creditors’ and Customers’ List
The Bankruptcy Court for the District of Delaware has granted FTX approval for all its first-day motions, including paying critical vendors up to $8.5 million, a Nov. 23 court filing shows.
FTX Bought $121M Properties in Bahamas Within 2 Years
Bankrupt crypto exchange FTX, alongside senior executives at the firm and parents of Sam Bankman-Fried, bought at least 19 properties worth $121 million in the Bahamas within the last two years, Reuters <a href="https://www.reuters.com/technology/exclusive-bankman-frieds-ftx-parents-bought-bahamas-property-worth-121-mln-2022-11-22/">reported</a> Nov. 22.
FTX Group Has Cash Balance of $1.24 Billion, New Bankruptcy Filing Shows
FTX Group, which filed for Chapter 11 bankruptcy protection on Nov. 11, has a combined cash balance of $1.24 billion, according to a new court filing.
Genesis Says It Has No Immediate Plans To Declare Bankruptcy, Seeks Consensual Resolution
Genesis, a digital asset financial services company, has denied that it is on the verge of declaring bankruptcy, just days after halting withdrawals in response to the collapse of crypto exchange FTX.
