Core Scientific Resumes Nasdaq Trading After Bankruptcy Exit
Core Scientific, a leading Bitcoin mining firm, has successfully exited Chapter 11 bankruptcy, reducing debt by $400 million and strengthening its balance sheet. The company is set to resume Nasdaq trading on January 24, 2024, with a renewed vision and growth plan. The company’s restructuring plan, approved by the U.S. Bankruptcy Court, strategically converted substantial debt […]
Terraform Labs Files for Chapter 11 Bankruptcy Protection
Do Kwon’s Terraform Labs has initiated the process of Chapter 11 bankruptcy protection in the United States; the firm claims to have between $100 million and $500 million in estimated assets and liabilities. A January 21 filing with the United States Bankruptcy Court for the District of Delaware stated that the company had petitioned for […]
BlockFi’s Bankruptcy Case Rewards Lawyers with $21 Million in Fees
The law firms representing BlockFi, a failed crypto lender, have earned a staggering $21 million in fees for their work in the Chapter 11 proceedings, which involved complex and unprecedented legal issues. BlockFi, a cryptocurrency lending platform that offered high-interest loans and deposits, filed for Chapter 11 bankruptcy protection in July 2023 after suffering massive […]
Voyager Pays Kirkland $1.1M for Crypto Bankruptcy Work
Voyager Digital, a crypto lending and brokerage firm, has paid a hefty sum of $1.1 million to Kirkland & Ellis, a prestigious law firm, for its legal services during its bankruptcy process in April. Voyager was one of the leading crypto brokers in the industry, offering users access to over 50 digital assets and interest-bearing […]
Bittrex U.S. to Allow Withdrawals After Court Ruling
The U.S. arm of crypto exchange Bittrex is set to open for customer withdrawals Thursday following a ruling by a Delaware bankruptcy court. After receiving a lawsuit from the SEC for running an unregistered securities exchange, the exchange filed for Chapter 11 bankruptcy in May. On May 8, Bittrex filed for Chapter 11 bankruptcy protection […]