Core Scientific gets interim nod for $37.4M bankruptcy loan
The loan would allow Core Scientific to keep its mining and hosting operations afloat while it restructures. A bankruptcy court in the United States has given Bitcoin (BTC $16,805) miner Core Scientific temporary permission to obtain a $37.5 million loan from current creditors to fund it in the midst of liquidity concerns. One of the […]
B. Riley offers Core Scientific $72M to avoid bankruptcy
Bitcoin miner Core Scientific has received $72 million in finance from financial services company B. Riley in order to stay afloat, the creditor also outlined a path for it to avoid bankruptcy. In a letter dated December 14 outlining the conditions of the financing deal, B. Riley, a major lender to Core Scientific with $42 […]
Court Sets New Deadline For Celsius Restructuring Plan
Bankrupt cryptocurrency lender Celsius was granted an extension on its exclusivity period until Feb. 15, 2023. The troubled crypto lender now has a few more months to file for a Chapter 11 restructuring plan thanks to the court’s approval. After two court appearances on December 6, the decision to prolong the exclusivity period was made. […]
3AC bankruptcy faces issues amid unknown location of founders
The liquidators claim 3AC Co-founders are located in Indonesia and the Emirates, where foreign court orders are difficult to enforce. Judge Martin Glenn ruled on Dec. 2 during a virtual hearing for the Southern District of New York Bankruptcy Court that Three Arrows Capital (3AC) liquidators must provide more paperwork before he will allow them […]
Larry Fink: BlackRock Had Invested $24 Million in FTX
CEO of BlackRock Inc. Larry Fink said on Wednesday that the now-defunct FTX crypto exchange seems to have done “misbehaviors,” but that the technology behind crypto is important for the future. “We’ll have to wait and see how everything goes with FTX,” BlackRock CEO said. “I mean, we can make all the decisions right now, […]