Bankruptcy


Finance

Genesis, Three Arrows Capital Reach Agreement on $1B of Claims

The bankrupt crypto lender is seeking court approval to settle the claims with a $33 million payment to the defunct hedge fund, 3AC.

Genesis (Spencer Wing/Pixabay)

Opinion

We've Seen the FTX Collapse Before

There are overwhelming similarities between the FTX and MF Global bankruptcies — and one big difference.

Jon Corzine and Sam Bankman-Fried were both politically-connected business leads who lost over $1 billion in customer funds, though their different outcomes shows that regulation does not always achieve what is promised. (Wikimedia Commons/CoinDesk)

Finance

Celsius Bankruptcy Reorganization Plan Approved by Court; Implementation by Early 2024

The order marks Celsius' exit from bankruptcy, filed in July last year, a process that also saw it make a $4.7 billion settlement with the U.S. over fraud allegations.

Ex-Celsius CEO Alex Mashinsky, right, near a federal courthouse in Manhattan on Oct. 3, 2023 (Victor Chen/CoinDesk)

Finance

FTX Relaunch Effort Includes Celsius Winner Proof Group, Sources Say

Plans to bring Sam Bankman-Fried's crypto exchange back to life include the Silicon Valley investment firm Proof Group, which was part of the Fahrenheit consortium that successfully bid for bankrupt cryptocurrency lender Celsius.

FTX former CEO Sam Bankman-Fried. (MIT Bitcoin Club, Mercatus Center, Cointelegraph/Wikimedia Commons, modified by CoinDesk)

Policy

FTX Wants to Sell $744M Worth of Grayscale, Bitwise Assets

Apart from using an investment adviser, the debtors have proposed setting up a pricing committee in which all stakeholders are represented.

(CoinDesk)

Finance

A Year After Sam Bankman-Fried's Downfall, Solana and Other FTX Holdings Are Flying High

The FTX founder's downfall began on Nov. 2, 2022 – a year ago Thursday – when CoinDesk published a big scoop. Jurors are poised to begin deliberating his fate on the anniversary of that story, at a time when the SOL tokens FTX owns just got $1 billion more valuable.

FTX logo (Adobe Firefly)

Markets

FTX Moves Millions Worth of LINK, MATIC, AGLD to Coinbase as Sam Bankman-Fried Testifies

The latest transactions followed $19 million worth of crypto moved from FTX cold wallets to exchanges.

MATIC and LINK moved from FTX-related wallets (Arkham Intelligence)

Videos

Cost of Not Enacting Crypto Regulation Is 'Extremely High,' Legal Expert Says

As part of CoinDesk's State of Crypto 2023 event in Washington, D.C., Vanderbilt Law School Professor and Associate Dean Yesha Yadav discusses the string of bankruptcies the crypto industry has seen and how bankruptcy courts have effectively become "quasi-regulators in the mix."

CoinDesk placeholder image

Finance

FTX Cold Wallets Move $19M in Solana, Ether to Crypto Exchanges

The debtor group in control of FTX assets has conducted various on-chain transactions in the past few weeks.

FTX EU will allow customers to withdraw funds that have been locked on the platform. (CraigRJD/Getty Images)

Finance

Sam Bankman-Fried’s Defunct Exchange FTX Receives Multiple Bids for Restart

Options also include a sale of the exchange, which boasted 9 million users before going bankrupt.

Close up of former FTX CEO Sam Bankman-Fried