Bankruptcy


Finance

Crypto Lender Celsius Wins Court Approval for Customer Withdrawals, Flare Token Airdrop

The U.S. bankruptcy court authorized eligible XRP holders to receive the Flare tokens due under a prior agreement.

Celsius thermometer (Unsplash/Modified by CoinDesk)

Tech

Genesis Seeks $20.9M From ‘Bitcoin Jesus’ Over Crypto Options Trades That Weren’t Settled

The court action seeks damages from Bitcoin Cash backer Roger Ver related to the alleged failure to settle cryptocurrency options transactions that expired on Dec. 30, 2022.

Roger Ver (YouTube screenshot)

Videos

Date Set for Oral Arguments in Grayscale’s Appeal of SEC’s Bitcoin ETF Decision; Celsius Developments

Bitcoin's (BTC) January price rally has analysts focusing on higher valuations last seen in mid-2022. Separately, a date has been set to begin hearing oral arguments in Grayscale Investment’s appeal of the SEC decision to deny the conversion of GBTC into an ETF. Grayscale and CoinDesk are both owned by DCG. Separately, Celsius Network is planning to reinvent itself as a new, publicly traded "recovery corporation" to exit the bankruptcy process.

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Policy

Celsius Proposes Restructuring to Offer One-Time ‘Meaningful Recovery’ Payout for Most Creditors

The bankrupt firm is thinking of forming a new “recovery corporation” after getting a slew of acquisition bids that were not compelling.

Thermometer (Getty Images)

Policy

Lawyers for Genesis and Its Creditors Are ‘Optimistic’ for a Quick Resolution to Bankruptcy Woes

Attorneys from all parties at Monday’s First Day hearing lauded “around-the-clock” efforts undertaken to resolve the brokerage’s disputes with its creditors.

(Danny Nelson/CoinDesk)

Finance

A Dive Into 0xd62, a Genesis OTC Wallet That’s Moving Money

It just had one of the biggest movements of ETH ever, just as its corporate sibling filed for bankruptcy. Its big transfers tend to coincide with big events at the company.

The separation of light from darkness in Genesis 1. (Getty Images)

Videos

First Hearing in Genesis Bankruptcy Case

Genesis Global Holdco LLC, the holding company of troubled cryptocurrency lender Genesis Global Capital, filed for Chapter 11 bankruptcy protection after being pummeled by two of 2022's biggest industry collapses. Former SEC Enforcement Branch Chief and Bragança Law Managing Partner Lisa Bragança discusses what to expect from its first bankruptcy hearing and whether Genesis' trading business is free of liability as the company's trading arm continues to move money around on blockchains, according to Nansen. Genesis and CoinDesk are both owned by Digital Currency Group (DCG).

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Videos

DCG Outlook as Genesis' Crypto Lending Businesses File for Bankruptcy Protection

Robert Leshner, founder of decentralized finance lending platform Compound Labs, compares DCG to a baseball player trying to play with one hand tied behind their back, after Genesis Global Holdco LLC filed for Chapter 11 bankruptcy. DCG is the parent company of Genesis and CoinDesk.

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Videos

Compound Labs Founder on Options for Genesis Creditors

Compound Labs founder Robert Leshner discusses the potential options for Genesis' creditors, like himself, after the crypto lender filed for Chapter 11 bankruptcy and owes over $3.5 billion to its top 50 creditors. DCG is the parent company of Genesis and CoinDesk.

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Videos

First Hearing in Genesis Bankruptcy Case Set for Monday

Crypto lender Genesis Global Capital's first hearing in its Chapter 11 bankruptcy case will take place Monday afternoon, according to court filings. Genesis has over 100,000 creditors among the three companies that declared bankruptcy. Robert Leshner, Founder of decentralized finance lending platform Compound Labs and a Genesis creditor, discusses his take on Genesis' bankruptcy developments and the state of the NFT market. DCG is the parent company of Genesis and CoinDesk.

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