Bankruptcy


Markets

Crypto Investors Can Purchase Bankruptcy 'Put Options' to Protect Funds on Binance, Coinbase, Kraken

Investment firm Cherokee Acquisition is offering the options, which will allow account holders to recover 100% of their assets in the event the major exchanges file for bankruptcy and lock customer assets.

Bankruptcy (Gerd Altmann/Pixbay)

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Sam Bankman-Fried Banned From Contacting FTX Employees By Judge

A New York judge has prohibited Sam Bankman-Fried from attempting to contact any former or current employees of Alameda Research or FTX. Bankman-Fried has also been prohibited from using Signal or other ephemeral messaging applications. "The Hash" panel discusses the latest developments in FTX's bankruptcy process.

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Finance

Luxor Starts First-of-Its-Kind Bitcoin Mining Rig Marketplace for Large-Scale Orders

The market for mining machines is increasingly flooded with inventory from struggling companies.

(Eliza Gkritsi/CoinDesk)

Policy

Bankrupt Crypto Lending Platform Celsius Names Users Eligible to Withdraw Assets

Users named on the list can withdraw 94% of their assets if they can cover the withdrawal fees.

More claimants are turning up the heat on Celsius. (Unsplash)

Finance

Bankrupt Crypto Exchange FTX Had Around $1.4B Cash at End of 2022

The figure is around 19% higher than the $1.2 billion reported in November when FTX filed for bankruptcy protection.

Former FTX CEO Sam Bankman-Fried (Jesse Hamilton, modified by CoinDesk)

Videos

Independent Examiner Releases Report on Celsius Network, Bankruptcy Expert Weighs In

In September, an independent examiner was asked by a bankruptcy court to offer an outside view of what is happening at crypto lender Celsius. The report has now been published detailing the firm’s operations in the run-up to bankruptcy being declared in July. 507 Capital Managing Partner Thomas Braziel discusses the report and what to expect from Celsius’ future bankruptcy proceedings.

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Celsius Used New Customer Funds to Pay for Withdrawals: Independent Examiner

An independent examiner for the U.S. bankruptcy court in New York said in a Tuesday filing that crypto lender Celsius Network misled its investors and occasionally used new customer funds to pay for other customers’ withdrawals– the usual definition of a Ponzi scheme. "The Hash" panel discusses the examiner's report and what it reveals about how Celsius operated.

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Finance

Bitcoin Miner Core Scientific to Borrow $70M From B. Riley

The firm said the loan will enable it to replace an existing facility and give it "up to 15 months runway and significant flexibility."

Riot Platforms’ acquisition of Block Mining makes sense, JPMorgan says. (Sandali Handagama)

Videos

Identities of 2 Parties Who Backed Sam Bankman-Fried’s $250M Bond Can Be Revealed, Judge Rules

U.S. District Judge Lewis Kaplan ruled on Monday that the identities of the two non-parental parties who co-signed Sam Bankman-Fried's $250 million bond can be made public. CoinDesk Global Policy and Regulation Managing Editor Nikhilesh De discusses the decision and what to expect from FTX's future bankruptcy proceedings.

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