Bankruptcy News

Former FTX head of engineering, Nishad Singh, urged a Manhattan federal judge to exempt him from a prison sentence for his role in the fall of the cryptocurrency exchange platform. As reported by Bloomberg on Oct. 16 lawyers representing Nishad…

Bankrupt crypto exchange Mt. Gox has once again postponed the repayment deadline for its creditors. Now, some victims of its collapse will not be able to receive funds until next year. The new report shows that most creditors have already…

FTX customer Nikolas Gierczyk accuses Olympus Peak of underpaying him after buying his FTX bankruptcy claim worth $1.59 million, alleging the hedge fund owes him much more in additional recovery. According to a Bloomberg report on Oct. 11, Californian Nikolas…

FTX’s bankruptcy plan to repay customers in cash plus interest was approved by a Delaware judge, despite a push for in-kind reimbursements. Judge John Dorsey of the U.S. District of Delaware Bankruptcy Court ruled in favor of FTX’s repayment, which…

Users were confused by the news that FTX clients would receive between 10% and 25% of the value of the deposited crypto assets. Why did this happen? Sunil Kavuri, one of the creditors, recently said several other changes are also…

Bankrupt crypto exchange FTX has settled emergent technologies over $600 million in Robinhood stock. The motion, filed by FTX CEO John Ray III, says the platform is willing to pay Emergent $14 million to cover its administrative costs. In return,…

The firm has filed for bankruptcy in the Southern District of Texas. The U.S. Bitcoin miner has debts of $50 million to $100 million, and the total assets of Rhodium Enterprises are estimated from $100 million to $500 million. The…

Genesis Global and affiliated entities have begun disbursing $4 billion in creditor payouts following the completion of their restructuring process. According to an Aug. 2 statement, crypto lender Genesis Global started repayments to over 100,000 creditors after declaring bankruptcy in…

Ten years after its collapse, the Mt. Gox crypto exchange finally began paying off creditors. What is the reason for this process, which has dragged on for a decade?  Let’s dive deep into the chronology of events associated with the…

Binance head Richard Teng says the exchange is in “close touch” with its customers regarding the bankruptcy of FlowBank, which stored the exchange’s clients trading collateral. Cryptocurrency exchange Binance seems unaffected by FlowBank‘s bankruptcy, following the Swiss regulator’s announcement on…

FTX first tried to sell its Anthropic shares in June 2023, but the attempt was halted. Since then, the trendy AI sector drove up the value of Anthropic shares, resulting in over $800 million in profits.

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.

Crypto lender BlockFi once valued at $3 billion is closing its website and taps Coinbase for distributions of funds recovered from bankrupt FTX. BlockFi, which emerged from bankruptcy in 2023 following a series of cascading bankruptcies associated with the collapse…

Bankrupt cryptocurrency exchange FTX has amassed billions in extra money to fully repay its 2 million customers, marking a new twist in bankruptcy proceedings. Cryptocurrency exchange FTX which went bankrupt in late 2022 has accumulated billions more than it needs…

Several the Mt. Gox platform creditors immediately reported an update to their claims account

What does the future hold for the platform now that Bankman-Fried faces decades in prison, and is there any chance for a revival of the FTX exchange? Once a leading name in the crypto world, FTX faced a dramatic downfall…