BlockFi Looks to Dismiss Bankruptcy Case for SBF’s Robinhood Shell Company
Bankrupt crypto lender BlockFi on Thursday moved to strike out the bankruptcy case of Emergent Fidelity Technologies, as a battle over around $600 million in assets mainly owned by FTX founder Sam Bankman-Fried becomes ever more complex.
Compute North’s Reorganization Plan Approved by Bankruptcy Judge
A federal judge approved the final reorganization plan for effectively defunct crypto mining services firm Compute North, which was one of the largest in North America, setting the firm on track to become a shadow of what it once was.
Celsius Seeks to Recovery Millions From Mashinsky, Other Former Executives
Celsius and its creditors have begun court action to recover millions they say was fraudulently transferred from founder and former chief executive officer Alex Mashinsky, his wife and other former senior executives.
Celsius Creditors Committee Proposes Suing Mashinsky, Other Celsius Execs
The official committee of Celsius creditors is proposing to sue Celsius co-founder Alex Mashinsky and other executives for "fraud, recklessness, gross mismanagement and self-interested conduct" that eventually led to the collapse of the crypto lender. In a proposed complaint filed in a New York Bankruptcy Court on Feb. 14, attorneys representing the Official Committee of Unsecured Creditors said the move follows six months of investigations into Celsius’ current and former directors, officers and employees. The committee is made up of seven Celsius account holders and was appointed by the U.S. Trustee in July 2022. The committee represents the interest of Celsius' account holders along with unsecured creditors. (Cointelegraph)
Bankrupt Crypto Lender Celsius Seeks to Raise $14M From Bitmain Mining Vouchers
Bankrupt crypto lender Celsius is hoping to raise more than $14 million by selling discount vouchers for mining company Bitmain before they expire as it seeks to restore funds to creditors.
Bankrupt Crypto Lender BlockFi Takes Two-Thirds Haircut to Settle Bitcoin Miner Bitfarms' Debt
Bitcoin mining firm Bitfarms (BITF) agreed to settle its remaining $21 million of debt with bankrupt lender BlockFi for a single cash payment of $7.75 million, according to a Thursday press release.
Celsius’ Proposed Extension for Wind-Up Opposed by Creditors, US Government
Plans by bankrupt crypto lender Celsius to extend its restructuring plan by up to five months have been opposed by creditors and the U.S. government in legal filings made Wednesday.
Genesis-backed Coin Cloud Files for Bankruptcy on Its ATM Network
Cryptocurrency ATM company Coin Cloud has filed for bankruptcy, according to a document submitted to Nevada’s bankruptcy court on Feb. 7. Coin Cloud has up to 10,000 creditors, according to the filing. It also has $50 million to $100 million in assets and $100 million to $500 million in liabilities. Notably, Coin Cloud owes up to $116 million to Genesis Global Capital, which is by far its largest creditor. All but three other creditors have claims under $1 million.
Gemini To Pump $100 Million Into Genesis for Its Bankruptcy Recovery
Earn users have seen a fall that no one expected. Their holdings are stuck with withdrawals halted by – now a bankrupt venture – Genesis. Gemini appears to be coming to the rescue of the Earn users by announcing its plan to pump $100 million into Genesis for bankruptcy recovery. The move was announced during a status conference for Genesis, a venture that owes its creditors billions of dollars.
Celsius Was Insolvent Since Inception, Court-Appointed Examiner Reveals
According to the report by a court-appointed examiner for its bankruptcy proceedings, the collapsed cryptocurrency lending platform Celsius Network had cheated customers since its foundation as a public company in the United States, which it allegedly created to avoid regulation in the United Kingdom.
