Court Filing Shows FTX 2.0 Reboot Plan in Progress
The new CEO of the insolvent cryptocurrency exchange FTX, John Ray III, is working on a reboot plan to relaunch the failed crypto exchange as FTX 2.0, according to the most recent court filings. A May 22nd court filing reveals that the FTX team detailed Ray’s contributions to the Chapter 11 bankruptcy in a compensation […]
Voyager closes $1B deal with Feds to allow sale of assets to Binance.US
Voyager Digital Holdings, a defunct cryptocurrency lender, has agreed with the U.S. government to move forward with a $1 billion proposal to sell its assets to Binance’s U.S. subsidiary. Voyager, the Official Committee of Unsecured Creditors, and the U.S. government agreed on April 19 in a New York District Court filing that Binance could acquire […]
SVB Parent Firm Reportedly Contemplating Bankruptcy
Silicon Valley Bank’s parent company, SVB Financial Group, is exploring for methods to liquidate its assets and is considering filing for bankruptcy as one of its options. SVB Financial is reportedly looking for purchasers for its remaining assets and considering bankruptcy, according to a Reuters article that quoted unnamed sources; however, sources stated that the […]
Binance.US To Buy Voyager Digital’s Assets
According to a March 7 Bloomberg story, a New York bankruptcy judge has permitted Voyager Digital to sell its assets to Binance.US. According to Judge Michael Wiles’ decision, the two parties to the proposal may try to finalize the transaction and transfer the pertinent crypto assets. Voyager must now choose whether to proceed with the […]
Silvergate faces bankruptcy issues amid capital flight
The cryptocurrency bank Silvergate may stop operating after warning last week that it might be short on money. Deposits at Silvergate are down 42% In light of the ongoing legal dispute, Silvergate Capital Corp.’s shares have been under pressure since it revealed on January 17 a sharp fall in deposits related to cryptocurrencies in the […]