Bankruptcy


Finance

Bankrupt Crypto Lender Voyager Plans to Settle CEO, CFO Negligence Claims Related to Three Arrows Loans

An internal probe found that risky loans made to 3AC were based on minimal financial disclosures from the hedge fund.

Voyager CEO Steve Ehrlich (CoinDesk)

Finance

Three Arrows Liquidators Seek to Subpoena Co-Founders Zhu and Davies by Alternate Means

With the co-founders’ locations unknown, the liquidators are applying to serve them subpoenas via their email addresses, Twitter accounts and their attorneys’ email addresses.

Three Arrows co-funder Su Zhu (CoinDesk)

Finance

Voyager Digital's Creditors Push Back Against Plans to Provide Execs With Legal Immunity

Court filings revealed that Voyager executives have attempted to bake broad releases protecting themselves from future lawsuits into their sale agreement with FTX US.

Voyager CEO Steve Ehrlich (CoinDesk)

Finance

Crypto Miner Core Scientific Will Defend its Interests in Celsius Bankruptcy

Core Scientific provides hosting services to Celsius Mining, for which it claims to be owed around $5.4 million.

Core Scientific facility in North Carolina. (Core Scientific)

Markets

Former CEO of Bankrupt Crypto Lender Celsius Cashes Out $960K in CEL, USDC, Data Shows

Data show that Alex Mashinsky, who resigned as Celsius’ CEO on Sept. 27, continues to move crypto out of wallets while withdrawals are suspended for customers.

Celsius CEO Alex Mashinsky at Consensus 2019 (CoinDesk archives)

Videos

Judge Ordered Independent Examiner to Produce Interim Report on Celsius

U.S. bankruptcy Judge Martin Glenn ruled that the independent examiner in crypto lender Celsius Network’s bankruptcy will need to produce an interim report detailing Celsius’ financial management and handling of customer accounts. CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De breaks down the ruling.

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Policy

Independent Examiner Ordered to Produce Interim Report About Crypto Lender Celsius

The report’s findings may affect the court’s decisions about custodial accounts and preference claims.

Celsius thermometer (Unsplash/Modified by CoinDesk)

Videos

Celsius’ Top Execs Cashed Out $17M in Crypto Before Bankruptcy

Crypto lender Celsius Network’s bankruptcy case is entering a new phase where shareholders will be pitted against the firm’s beleaguered customers. This comes as court records show Celsius’ top executives withdrew a little over $17 million in cryptocurrency between May and June 2022, right before the company suspended withdrawals and filed for bankruptcy.

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Videos

Celsius’ Crypto Customers Face New Challenge in Retrieving Deposits

CORRECTION: Since publication, the reporting and headline of Celsius executives withdrawing crypto has been corrected to $17 million based on documentation provided by CTO Nuke Goldstein’s lawyers, who showed that most of his apparent withdrawals were sent to other accounts at Celsius. The original headline indicated a figure of $42 million.

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