bankruptcy

The cryptocurrency industry has seen its share of bankruptcies, with several companies and projects failing to gain traction or experiencing significant financial losses. While some of these bankruptcies were a result of poor management or ill-conceived business models, others were due to external factors such as regulatory hurdles or market volatility. Follow Blockworks for the latest developments, expert analysis, and comprehensive coverage on crypto bankruptcies varios cryptocurrency topics.
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FTX seems to be nearing the finish line almost two years after initiating the bankruptcy process

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While the current plan reflects progress, it represents a draft with “many blanks,” lawyer says

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Jane Street, a Mubadala-linked fund and Fidelity-linked funds are some of the top buyers, according to court documents

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Terraform Labs and the SEC are expected to head to trial later this month

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The agreement between the two bankrupt crypto companies awaits court approval

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The hearings are expected to last for a couple of days as the court hears arguments for and against the bankruptcy plan proposed by Genesis

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Judge John Dorsey approved the motion to sell, which was filed earlier this month

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The parent company of bankrupt lender Genesis filed an objection to its settlement agreement with the NYAG on Wednesday

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A lawyer for Genesis put the value of the Grayscale shares around $1.6 billion

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The company repaid over $1 billion in debt, according to the letter

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CoinList plans to buy the company, which holds a South Dakota license to offer custody services

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DCG says the plan “strips” the company of “other valuable economic and corporate governance rights”

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A hearing on the motion will take place on Thursday, Feb. 8

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A hearing on the motion to sell the stake is set for Feb. 22

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The SEC first filed the suit in January of last year

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Some creditors to the erstwhile crypto lending platform are slated to become shareholders in the bitcoin mining company

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Lawyers representing FTX in its bankruptcy told a court Wednesday that the former exchange will repay customers in full

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Terraform plans to appeal an earlier summary judgment from Judge Rakoff pending the trial outcome

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Core said Tuesday that it had emerged from “from Chapter 11 with a strengthened balance sheet” and shares re-hit the Nasdaq Wednesday

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Both Bloomberg and CoinDesk reported that the FTX estate has sold a majority of its GBTC shares

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The company called the filing a “strategic step” ahead of its trial

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Under the proposed plan, the FTX bankruptcy estate would settle up with customers by repaying them in US dollars based on the value of their crypto assets in November 2022

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The company seeks to emerge from bankruptcy on Jan. 23 and re-list its shares on Nasdaq the following day

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