News with the tag "chapter 11"

The CEO of fallen crypto exchange FTX says the firm will begin distributing its bankruptcy payments soon. In a statement, John Jay Ray III says payments to FTX creditors and customers will begin early next year amid anticipation that the company’s court-approved Chapter 11 Plan of Reorganization wil...

According to CoinGecko, Worldcoin currently has a market capitalization of approximately $792 million and a 494 million circulating supply.

Onchain data reveals that Blockfi, a now-bankrupt crypto lending firm, received a hefty $250 million deposit (1, 2) to one of its flagged addresses, as reported by Arkham Intelligence. The news was shared on X at 12:43 p.m. EDT on Monday. “Blockfi received $250M in USDC from Coinbase Prime, bringing...

Four law firms collectively earned $484 million from their work on the crypto bankruptcies, representing 64% of all fees requested and received in these cases.

Bitcoin mining company Rhodium Enterprises has initiated Chapter 11 bankruptcy proceedings in the U.S. Bankruptcy Court for the Southern District of Texas, disclosing potential liabilities of up to $100 million. The Chapter 11 filing, made on August 24, includes six subsidiaries: Rhodium Encore, Jor...

The Chapter 11 bankruptcy reorganization hearing for Terraform Labs Pte. Ltd. and Terraform Labs Limited is set for Sept. 19, 2024, at 10 a.m. EDT. This hearing will be pivotal in shaping the future of the crypto company, which has encountered substantial hurdles since the Terra ecosystem’s collapse...

The court's decision will determine if the company can restructure or must liquidate.

These developments indicate TFL’s proactive efforts to tackle Terra's challenges and restore trust and stability within the Terra ecosystem.

The US commodities regulator didn’t seek a civil monetary penalty, meaning the entire $12.7 billion would be used to pay back FTX’s creditors.

Genesis Global, the digital assets lender that went bankrupt last year, received court approval to pay billions in cash and crypto to creditors. The judge also rejected a legal challenge from Genesis Global's parent company, DCG.