News with the tag "Ankr"

The Genesis Litigation Oversight Committee (LOC) has launched a new round of legal action targeting Digital Currency Group (DCG), its CEO Barry Silbert, and associated executives. The suits, filed in two separate jurisdictions, aim to reclaim billions of dollars allegedly misappropriated from the cr...

The FTX Recovery Trust has announced it will begin disbursing more than $5 billion to creditors from May 30. This payment round marks the second distribution to eligible parties as the firm continues its efforts to reimburse those affected by its collapse. Repayment Efforts In a May 15 release , the...

Daniel Schatt and Joseph Podulka, former CEO and CFO of the now-bankrupt crypto lending firm Cred LLC, have pleaded guilty to wire fraud charges tied to the company’s dramatic collapse in 2020. The U.S. Department of Justice announced their pleas as part of an ongoing investigation into misconduct t...

Alexander Mashinsky, the former CEO of crypto lending firm Celsius, was sentenced to 12 years in prison on Thursday after pleading guilty to two counts of fraud. Celsius Mashinsky Faces Justice The proceedings took place before US District Judge John G. Koeltl in Manhattan’s Southern District, where...

Efforts to recover assets and increase repayment amounts for creditors of the collapsed cryptocurrency exchange FTX are intensifying. A series of new lawsuits have been filed as part of the ongoing bankruptcy proceedings. Targeting Insider Transactions and Transfers These legal actions primarily tar...

Key Takeaways: Victims detail severe losses due to Celsius’ misleading promises. Mashinsky seeks leniency ahead of his May 8 sentencing, despite admitting to fraud. DoJ weighs new rules to prevent unfair payouts in crypto bankruptcies. Federal prosecutors submitted more than 200 victim impact statem...

In a dramatic turn of events shaking the Asian cryptocurrency landscape, South Korean crypto lending platform Delio has disclosed a staggering debt of $258.7 million (378.7 billion won). This revelation, brought to light by bankruptcy trustee Jung Dong-hyun, has sent shockwaves through the crypto co...

The FTX saga continues to unfold, and the latest chapter is nothing short of jaw-dropping. While the collapse of the exchange sent shockwaves through the crypto world, the financial fallout is proving to be even more extensive than many anticipated. New reports reveal that the FTX bankruptcy costs a...

The FTX bankruptcy case has reportedly cost up to $1 billion in fees so far, making the case one of the most expensive bankruptcy cases in America. This comes amid the exchange’s recent move to start repaying customers. FTX Bankruptcy Case Costs $1 Billion In Fees According to a Bloomberg report , t...

Bankrupt cryptocurrency exchange FTX appears to owe a significant sum of money to creditors in more than twenty countries, including Ukraine. Crypto investors from more than 20 customers, including Ukraine , China , and Russia , are not eligible for FTX distributions, Sunil Kavuri, an FTX creditor, ...