Cryptocurrency Market

  • Market Cap: $3,317,402,612,152.37
  • 24h Vol: $144,421,677,844.99
  • BTC Dominance: 58.05%

creditors

former-ftx-ceo-seeks-$10m-insurance-fund-for-legal-defense,-request-opposed-by-ftx-debtors-and-unsecured-creditors

Former FTX CEO Seeks $10M Insurance Fund for Legal Defense, Request Opposed by FTX Debtors and Unsecured Creditors

Court filings reveal that the FTX co-founder is seeking access to a $10 million insurance plan to cover his attorney fees. FTX debtors and unsecured creditors have opposed Sam Bankman-Fried’s request, arguing that every dollar spent on his defense is “one less dollar” available to cover the losses of the debtors. FTX Debtors and Unsecured […]

Former FTX CEO Seeks $10M Insurance Fund for Legal Defense, Request Opposed by FTX Debtors and Unsecured Creditors Read More »

bank-of-england-shuts-down-silicon-valley-bank’s-uk-branch-after-us-regulators-close-parent-company

Bank of England Shuts Down Silicon Valley Bank’s UK Branch After US Regulators Close Parent Company

After U.S. regulators shut down Silicon Valley Bank (SVB) on Friday, the Bank of England has closed the company’s U.K.-based arm. The central bank explained that it intends to place the subsidiary into bank insolvency procedures. Fallout From SVB Failure Prompts BOE to Close U.K. Branch The ripple effect of the 16th largest bank in

Bank of England Shuts Down Silicon Valley Bank’s UK Branch After US Regulators Close Parent Company Read More »

alameda-research-sues-grayscale-investments-seeking-to-unlock-billions-in-value-for-shareholders

Alameda Research Sues Grayscale Investments Seeking to Unlock Billions in Value for Shareholders

FTX Debtors and affiliate Alameda Research Ltd. have filed a lawsuit against Grayscale Investments, seeking injunctive relief to unlock $9 billion in value for shareholders of the Grayscale Bitcoin and Ethereum Trusts. The debtors allege that “Grayscale has extracted over $1.3 billion in exorbitant management fees in violation of the trust agreements.” FTX Debtors Accuse

Alameda Research Sues Grayscale Investments Seeking to Unlock Billions in Value for Shareholders Read More »

ubs-strategists-predict-minimal-impact-of-upcoming-mt-gox-payouts-on-bitcoin-value

UBS Strategists Predict Minimal Impact of Upcoming Mt Gox Payouts on Bitcoin Value

A recent report published by market strategists from the investment bank and financial services company UBS says that the upcoming Mt Gox payouts won’t destabilize bitcoin’s value. While a new supply will come to the market, UBS strategists insist that “it would be less concentrated.” UBS Market Strategists Believe Mt Gox Payouts Won’t Destabilize Bitcoin’s

UBS Strategists Predict Minimal Impact of Upcoming Mt Gox Payouts on Bitcoin Value Read More »

democrats-to-return-22%-of-$45.2-million-donation-made-by-ftx’s-co-founder-sam-bankman-fried

Democrats to Return 2.2% of $45.2 Million Donation Made by FTX’s Co-Founder Sam Bankman-Fried

After the disgraced co-founder of FTX, Sam Bankman-Fried (SBF), donated $5.2 million to Joe Biden’s campaign in 2020 and more than $40 million to Democrats leading up to the U.S. midterm election cycle, three major Democratic organizations plan to return 2.2% of the funds, or $1 million, to the now-defunct crypto exchange. Of the total

Democrats to Return 2.2% of $45.2 Million Donation Made by FTX’s Co-Founder Sam Bankman-Fried Read More »

ftx-bankruptcy:-judge-delays-decision-on-appointing-independent-examiner-amid-cost-concerns

FTX Bankruptcy: Judge Delays Decision on Appointing Independent Examiner Amid Cost Concerns

Judge John Dorsey has delayed his decision on whether to appoint an independent examiner in the FTX case. At the latest hearing, Dorsey acknowledged that the cost to debtors could reach tens of millions of dollars. Currently, the bankruptcy judge is hopeful that the issue will be resolved through a mutually agreed upon solution between

FTX Bankruptcy: Judge Delays Decision on Appointing Independent Examiner Amid Cost Concerns Read More »

ftx-co-founder’s-alleged-extravagance-comes-to-light-in-bankruptcy-court-documents

FTX Co-Founder’s Alleged Extravagance Comes to Light in Bankruptcy Court Documents

Following the court filing that shows FTX co-founder Sam Bankman-Fried (SBF) wants access to FTX’s $460 million in Robinhood shares, Delaware bankruptcy court documents show tens of millions were spent by the FTX team in 2022 on living accommodations, hotels, food, and flights. Moreover, SBF’s quantitative trading firm allegedly owes more than $55,000 to Jimmy

FTX Co-Founder’s Alleged Extravagance Comes to Light in Bankruptcy Court Documents Read More »

three-arrows-capital-founders-served-subpoenas-via-twitter-in-bankruptcy-process

Three Arrows Capital Founders Served Subpoenas via Twitter in Bankruptcy Process

The founders of the now-defunct cryptocurrency hedge fund Three Arrows Capital (3AC) have been served subpoenas by the fund’s liquidators via Twitter. While serving subpoenas on Twitter is rare, it has happened on various occasions in the past, including when Wikileaks was served on Twitter in 2018. Founders of Defunct Crypto Hedge Fund Contacted Electronically

Three Arrows Capital Founders Served Subpoenas via Twitter in Bankruptcy Process Read More »

us-bankruptcy-court-rules-celsius-deposits-belong-to-the-firm

US Bankruptcy Court Rules Celsius Deposits Belong to the Firm

A New York bankruptcy court has ruled the deposits on high-interest-earning accounts belong to Celsius, the embattled former cryptocurrency lending firm, that filed for Chapter 11 bankruptcy protections in July. The decision establishes a precedent that might affect the status of other, similar cases involving crypto companies like Blockfi and FTX. Celsius Obtains Ownership of

US Bankruptcy Court Rules Celsius Deposits Belong to the Firm Read More »