Bankruptcy


Policy

FTX Expects to Fully Repay Customers but Won't Restart Defunct Crypto Exchange

An initial surge in the FTT token after the news turned negative, leaving FTT plummeting 15% today.

Sam Bankman-Fried (Liz Napolitano/CoinDesk)

Finance

FTX Sold About $1B of Grayscale's Bitcoin ETF, Explaining Much of Outflow: Sources

BTC's price has fallen since bitcoin ETFs were approved. In theory, now that FTX is done selling its substantial holdings, the selling pressure could ease since a bankruptcy estate liquidating holdings is a relatively unique event.

FTX logo (Adobe Firefly)

Policy

Sam Bankman-Fried's Parents Ask Court to Dismiss FTX's Lawsuit Seeking to Recover Funds

Bankman and Fried, both professors at Stanford Law School, argued that Bankman did not have a fiduciary relationship with FTX .

Barbara Fried and Joe Bankman at the federal courthouse where their son, Sam Bankman-Fried, was preparing to testify on Oct. 26, 2023 (Victor Chen/CoinDesk)

Finance

Bitcoin Miner Core Scientific to Emerge From Bankruptcy, Re-List Shares This Month

The company expects to see nearly $600 million in revenue this year.

Core Scientific's Marble facility in North Carolina. (Core Scientific)

Markets

Celsius to Unstake Thousands of Ether, Possibly Easing ETH Selling Pressure

The defunct crypto lender sent over 30,000 ETH to custodian Fireblocks in the past week, some of which was deposited on crypto exchange Coinbase.

(Unsplash/Modified by CoinDesk)

Finance

Mt. Gox Appears to Have Started PayPal Repayments Tied to 2014 Bitcoin Hack

Payments through bank accounts are still awaited.

Mt. Gox Creditor Kolin Burges confronts Former Mt. Gox CEO Mark Karpeles (CoinDesk)

Policy

Court Freezes $1 Billion of Assets of Three Arrows Capital Founders

The worldwide order by a British Virgin Islands court applies to Su Zhu, Kyle Davies and Davies' wife, Kelly Chen.

Three arrows hit bullseye of a target (QuinceCreative/Pixabay)

Finance

FTX's Bahamas Wing Reaches Agreement With U.S. Bankruptcy Team, Streamlining Future Actions

This deal will pave the way for assets to be pooled and distributed to FTX.com customers.

Albany, a residential complex where Sam Bankman-Fried lived in a penthouse with others. (Amitoj Singh/CoinDesk)

Policy

DCG Can't Sell or Reduce Ownership of Genesis Until Bankruptcy Proceedings Close, Judge Rules

Genesis requested a New York bankruptcy court to bar ownership changes to secure tax benefits on around $700 million worth of operating losses.

Genesis filed for bankruptcy in January 2023 (Richard Mortel/Flickr)

Finance

Galaxy Digital Looking to Buy More Crypto Bankruptcy Assets After Deal to Sell FTX's Coins: FT

Mike Novogratz's firm is also interested in companies FTX invested in as a venture capital provider.

Mike Novogratz, founder and CEO of Galaxy Digital