Bahamian liquidators disregard FTX US bankruptcy filing
According to the interim liquidator in charge of FTX Digital Markets’ bankruptcy proceedings, FTX was not permitted to declare bankruptcy in the United States without his consent. FTX Trading and 134 additional affiliates filed for Chapter 11 bankruptcy on November 14 in a Delaware court, but provisional liquidator Brian Simms, who was appointed by the […]
Amy Wu Resigns From FTX Ventures
Amy Wu a former partner at Lightspeed Venture Partners announced her resignation from FTX Ventures on Friday. Amy Wu, an FTX investor is said to have left her post. The Information reported on November 11 that Wu left his position as Head of FTX Ventures when it was revealed that the Crypto exchange would proceed […]
FTX US halts cryptocurrency withdrawals
Following this morning’s bankruptcy proceedings, FTX US has halted withdrawals. Today, the filing for Chapter 11 protection by FTX made headlines, causing billions of dollars worth of assets to freeze. According to data, FTX US has stopped processing withdrawals, which is concerning for customers who are currently caught in the midst of a massive turnover […]
Core Scientific Consider Bankruptcy Following Financial Condition
Core Scientific has attributed its troubles to the low price of Bitcoin, an increase in the BTC hash rate, and legal dispute with Celsius. According to reports, Core Scientific, a company that mines bitcoins, is thinking about declaring bankruptcy as some of the holders of its convertible bonds speak with restructuring attorneys. Bloomberg Law reported […]
Celsius trustee rejects $3M employee bonus motion
The Celsius Trustee has opposed the retention bonus, claiming that there is insufficient evidence in the motion to support such a significant payout and that it is unclear which individuals could be regarded as insiders. William Harrington, the U.S. Trustee in charge of the Celsius chapter 11 bankruptcy case, has objected to a move by […]