Bankruptcy


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FTX Creditor List Features Netflix, Binance, Wall Street Journal

Lawyers for the bankrupt crypto exchange published an extensive list of creditors that includes media companies, airlines, universities and charities.

FTX founder and former CEO Sam Bankman-Fried (Nikhilesh De/CoinDesk)

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Celsius Secures Court Approval to Process Certain Customer Withdrawals, Flare Token Airdrop

Bankrupt crypto lender Celsius Network secured approval to process certain customer withdrawals, several court orders filed on Tuesday show. The U.S. bankruptcy court also authorized eligible XRP holders to receive Flare tokens due under a prior agreement.

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Tech

'Bitcoin Jesus' Says He Has the Money to Pay Ailing Crypto Lender Genesis

Roger Ver, an early Bitcoin advocate who now advocates for the Bitcoin Cash blockchain, has been accused in court by Genesis of failing to settle cryptocurrency options, with $20.9 million of damages sought.

Roger Ver (YouTube screenshot)

Finance

Crypto Lender Celsius Wins Court Approval for Customer Withdrawals, Flare Token Airdrop

The U.S. bankruptcy court authorized eligible XRP holders to receive the Flare tokens due under a prior agreement.

Celsius thermometer (Unsplash/Modified by CoinDesk)

Tech

Genesis Seeks $20.9M From ‘Bitcoin Jesus’ Over Crypto Options Trades That Weren’t Settled

The court action seeks damages from Bitcoin Cash backer Roger Ver related to the alleged failure to settle cryptocurrency options transactions that expired on Dec. 30, 2022.

Roger Ver (YouTube screenshot)

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Date Set for Oral Arguments in Grayscale’s Appeal of SEC’s Bitcoin ETF Decision; Celsius Developments

Bitcoin's (BTC) January price rally has analysts focusing on higher valuations last seen in mid-2022. Separately, a date has been set to begin hearing oral arguments in Grayscale Investment’s appeal of the SEC decision to deny the conversion of GBTC into an ETF. Grayscale and CoinDesk are both owned by DCG. Separately, Celsius Network is planning to reinvent itself as a new, publicly traded "recovery corporation" to exit the bankruptcy process.

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Celsius Proposes Restructuring to Offer One-Time ‘Meaningful Recovery’ Payout for Most Creditors

The bankrupt firm is thinking of forming a new “recovery corporation” after getting a slew of acquisition bids that were not compelling.

Thermometer (Getty Images)

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Lawyers for Genesis and Its Creditors Are ‘Optimistic’ for a Quick Resolution to Bankruptcy Woes

Attorneys from all parties at Monday’s First Day hearing lauded “around-the-clock” efforts undertaken to resolve the brokerage’s disputes with its creditors.

(Danny Nelson/CoinDesk)

Finance

A Dive Into 0xd62, a Genesis OTC Wallet That’s Moving Money

It just had one of the biggest movements of ETH ever, just as its corporate sibling filed for bankruptcy. Its big transfers tend to coincide with big events at the company.

The separation of light from darkness in Genesis 1. (Getty Images)

Videos

First Hearing in Genesis Bankruptcy Case

Genesis Global Holdco LLC, the holding company of troubled cryptocurrency lender Genesis Global Capital, filed for Chapter 11 bankruptcy protection after being pummeled by two of 2022's biggest industry collapses. Former SEC Enforcement Branch Chief and Bragança Law Managing Partner Lisa Bragança discusses what to expect from its first bankruptcy hearing and whether Genesis' trading business is free of liability as the company's trading arm continues to move money around on blockchains, according to Nansen. Genesis and CoinDesk are both owned by Digital Currency Group (DCG).

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