Bankruptcy


Policy

FTX Creditors' Lawyers Promote Deal Giving Investors 90% of What's Left in SBF's Empire

Lawyers for non-U.S. creditors of FTX are arguing that they've got a great deal in the exchange's bankruptcy, giving those who had funds in FTX.com 90% of the liquidation.

Close up of former FTX CEO Sam Bankman-Fried

Policy

BlockFi Bankruptcy Judge Says He Wants 3AC’s $284M Claim Resolved in Mediation

A bankruptcy judge rebuffed Three Arrows Capital’s request to lift a stay on its claim against BlockFi, setting a January mediation he hopes negates the need for a February hearing.

Publicidad de BlockFi en Union Station, Washington D. C. (Archivo de CoinDesk)

Finance

Jump Trading Lost Almost $300M in FTX’s Collapse, Michael Lewis Says in ‘Going Infinite’

This makes the trading giant one of FTX’s top creditors, Lewis wrote, citing documents from the crypto exchange’s former chief operating officer, Constance Wang.

Jump Crypto President Kanav Kariya (Danny Nelson)

Policy

BlockFi Says It's Taken Major Step Toward Emerging From Bankruptcy

The beleaguered lender’s restructuring plan may soon be finalized, pending a bankruptcy judge’s approval, BlockFi said in a notice to creditors.

Publicidad de BlockFi en Union Station, Washington D. C. (Archivo de CoinDesk)

Markets

FTX Bankruptcy Claims Soar in Value in Over-the-Counter Markets as Estate Recovers $7.3B

One top distressed-debt investor describes FTX claims as the “hottest ticket in town.”

(FTX, modified by CoinDesk)

Policy

Celsius' Bankruptcy Nears End as Creditors Approve Reorganization Plan

Most of the classes in the bankruptcy claim voted by more than 98% in favor of the reorganization.

Former Celsius CEO Alex Mashinsky outside a courthouse in New York on July 25, 2023. (Anna Baydakova/CoinDesk)

Finance

FTX Sues Former Employees of Hong Kong Affiliate, Seeks $157 Million

In the run-up to FTX's bankruptcy filing, known as the Preference Period, the defendants received the benefit of withdrawals that constitute preferential transfers, the filing said.

FTX bankruptcy estate consolidates ARB airdrop (Christine Roy/Unplash)

Policy

Gemini Blasts DCG and Genesis Bankruptcy Plan, Calling It ‘Misleading at Best’

Under the plan, Gemini creditors would receive a “fraction” of the money they are owed, Gemini’s lawyers said.

Tyler and Cameron Winklevoss at TechCrunch Disrupt NY 2015 (TechCrunch/Wikimedia)

Policy

Celsius, Core Scientific Resolve Acrimonious Mining Dispute With $45M Deal

Celsius had previously claimed hundreds of millions in damages in a squabble over unpaid dues that led to its mining rigs being powered down.

Bitmain Antminer S19 Hydro mining rigs, the company's latest technology, installed at a Merkle Standard facility in Washington state. (Eliza Gkritsi/CoinDesk)