Celsius selects NovaWulf as sponsor for its bankruptcy plan
For its proposed Chapter 11 bankruptcy restructuring plan, insolvent cryptocurrency lender Celsius Network has selected NovaWulf Digital Management as the sponsor. On February 15, Celsius filed a document with the United States Bankruptcy Court for the Southern District of New York outlining the strategy. The Celsius Official Committee of Unsecured Creditors (UCC), a group that […]
Genesis-backed Coin Cloud files for bankruptcy
According to a petition presented on February 7, cryptocurrency ATM provider Coin Cloud has filed for bankruptcy. The lawsuit states that there may be 10,000 creditors for Coin Cloud. Additionally, it has liabilities between $100 million and $500 million and assets between $50 million and $100 million. Notably, Genesis Global Capital, Coin Cloud’s single-largest creditor, […]
FTX files lawsuit to recover $446 Million from Voyager
Bankrupt crypto exchange FTX has filed a lawsuit against bankrupt crypto lender Voyager Digital to recover $446 million in loan repayment that was made by the former before filing for bankruptcy. According to sources, the insolvent cryptocurrency exchange FTX sued cryptocurrency lender Voyager Digital on Monday in an attempt to recoup $445.8 million in loan […]
FTX to remove Turkish subsidiary from bankruptcy Case
Bankrupt crypto exchange FTX is seeking to remove Turkish units from its bankruptcy case as it does not suppose the Turkish authorities will cooperate after the seizure of local assets in November 2022. FTX crypto exchange in a court filing on Friday said that Turkish authorities are unlikely to abide by orders from American courts […]
BlockFi to reportedly sell $160M in miner-backed loans
Insolvent cryptocurrency lending company BlockFi reportedly intends to auction off $160 million in Bitcoin miner-backed loans with the deadline for bidders to submit offers for the loans set for Jan. 24. According to two “familiar with the situation” sources quoted in a Bloomberg article from January 24, BlockFi began the process of disposing of the […]