US Bankruptcy Court Conditionally Approves BlockFi’s Chapter 11 Plan
United States Bankruptcy Court for the District of New Jersey has conditionally approved BlockFi’s disclosure statement, indicating that the company’s reorganization is advancing incrementally. BlockFi and the Official Committee of Unsecured Creditors issued a joint statement on August 2, 2023, urging all eligible parties to vote in favor of the plan by September 11, 2023. […]
Crypto Lender Geist Finance Shuts Down Permanently
Lending protocol Geist Finance is shutting down permanently due to losses from the Multichain exploit. This result has also been impacted by the need for proper valuation for Multichain assets due to the Chainlink oracles tracking genuine USDC, USDT, WBTC, or ETH values. Before the Multichain breach, the Fantom (FTM) network’s lending system Geist had […]
Crypto Lender Delio Pauses Withdrawals Citing Market Volatility
Delio, a South Korean virtual asset manager and lending platform, has announced a temporary suspension of customer withdrawals. The purpose of this suspension is to ensure the safety of customers’ assets that are currently in custody.In response to Haru Invest’s recent suspension of deposits and withdrawals of digital assets, we made the decision. This move […]
Fahrenheit Wins Bid to Acquire Celsius Network’s Assets
Cryptocurrency consortium Fahrenheit has outbid NovaWulf to acquire crypto lender Celsius Network’s assets following a lengthy auction process. According to court documents, the cryptocurrency consortium Fahrenheit was the winning suitor to acquire the insolvent cryptocurrency lender Celsius Network. The acquisition includes assets previously valued at approximately $2 billion that belonged to Celsius. The court documents, […]
Creditors File New Court Case Against BlockFi
Creditors of the insolvent crypto lending company BlockFi have filed a new court document claiming the company used customer money to buy $30M insurance. BlockFi presented its Chapter 11 reorganization plan to the United States Bankruptcy Court in Trenton, New Jersey, on May 12. The company stated that selling BlockFi may need to generate more […]