Tag Archives: creditors

Bankrupt cryptocurrency lending company Celsius Network has followed behind FTX, revealing plans to disburse billions of dollars in crypto to creditors and establish a new Bitcoin mining company for its creditors.  Celsius To Distribute $3 Billion In Crypto To Creditors In a press release published on Wednesday, Celsius Network announced …

After a protracted 18-month journey through the intricacies of bankruptcy proceedings, Celsius Network, a beleaguered crypto lender, has successfully concluded the distribution of assets exceeding $3 billion to its creditors. The labyrinthine process of restructuring necessitated extensive collaboration with regulatory authorities, coupled with innovative approaches such as alternative settlement agreements …

Surprisingly, bankrupt crypto lender Celsius Network customers are now facing legal action from bankruptcy managers after making substantial withdrawals within 90 days before the company’s bankruptcy declaration.  The bankruptcy managers have demanded that affected customers return some of their funds or potentially face further legal consequences. Customers Face Celsius Network’s …

The accidental double payment of settlement funds to Mt. Gox creditors adds a new chapter to the saga of one of the crypto industry’s earliest and most remarkable failures. In a recent development, multiple reports on Reddit indicate that some creditors of the infamous Mt. Gox crypto exchange have received …

Gemini, the Winklevoss Twins crypto platform offering an exchange, custodian services, and – in partnership with Genesis – Earn services, has been in a bit of trouble ever since the latter filed for bankruptcy last January. Possible Recovery Plan Waiting For Court Approval Genesis, whose legal troubles stemmed partly from …

Some creditors of cryptocurrency futures exchange CoinFLEX are alleging that OPNX, a new crypto exchange established in part by Three Arrows Capital (3AC) co-founders Kyle Davies and Su Zhu, was created using CoinFLEX assets without their consent.  According to a writ of summons filed in the High Court of Hong …

After thorough investigations, reports have revealed a significant amount of funds missing from FTX customer assets. Following this, FTX Trading Ltd and its associated list of debtors have come together to propose a settlement that would see the majority of lost crypto and financial assets refunded back to customers. FTX …

Celsius Network filed for Chapter 11 bankruptcy protection in April 2022, hoping to restructure its debt and find a buyer for its assets. Celsius Network, the bankrupt crypto lending company, has taken a significant step forward in prioritizing the needs of its creditors. The company is currently seeking court approval …

The accusations of vote-buying and manipulation have added complexity and uncertainty to the Genesis bankruptcy case. Bankrupt crypto lender Genesis Global Capital (GGC) is facing new charges from creditors that the proposed $175 million transaction with the insolvent FTX exchange is an attempt to manipulate the bankruptcy process through vote …

In addition to the partial repayment agreement, DCG has also committed to paying an additional $275 million, disbursed in four installments after the date of the initial partial repayment.  In a welcome development that has sent ripples through the crypto space, creditors of the defunct Genesis platform are set to …

Crypto lender, Voyager Digital, recently gave its investors the green light to begin withdrawing funds, a decision that came almost a year after the lender had suspended withdrawals and filed for Chapter 11 bankruptcy. The announcement took place last month, on June 23. And since the resumption of withdrawals, creditors …

McDermott Will & Emery has submitted a new bill of $5 million to Voyager creditors for the third interim, leading to a total over $16 million. The law firm representing crypto broker Voyager’s group of creditors has filed a bill for $5.1 million for work done from March to May. …