The exchange will begin paying back the users it failed to protect from a security breach Failed cryptocurrency exchange BlockFi has announced that it will begin reimbursing its customers starting this month. The news comes as a relief to the countless users who were left in a state of uncertainty after the exchange’s sudden collapse
The cryptocurrency company’s recent failures have forced it to take drastic measures Terraform Labs, a once-prominent name in the digital assets space, has declared bankruptcy and is currently in the process of liquidating its assets. The company has announced its intention to sell four of its key business ventures as part of a comprehensive $4.5
The proposal could lead to some creditors losing money, not recovering it FTX’s bankruptcy reorganization plan is being rejected by a group of creditors led by Sunil Kavuri. Several grounds for dismissing the plan were cited, including the contention that the settlement doesn’t serve creditors’ best interests. The group asserted that being reimbursed with cash
Users have little time to withdraw their funds if they want to avoid losing them OPNX, the cryptocurrency bankruptcy claims platform started by failed hedge fund Three Arrows Capital (3AC) co-founders, has declared that the company will officially halt all operations on the platform by February 14. In an email recently sent to exchange customers,
Terraform Labs hasn’t been able to recover and now has to call it quits Terraform Labs, the company created by Do Kwon and behind the now-defunct TerraUSD (UST) stablecoin, has filed for Chapter 11 bankruptcy protection in the US. The filing was submitted to the United States Bankruptcy Court for the District of Delaware on
The deal will see FTX-linked Alameda Research receive $175 million from Genesis A settlement has been approved by a New York bankruptcy judge between bankrupt cryptocurrency firms FTX and Genesis Global Trading (GGC) that grants FTX-affiliated Alameda Research $175 million from GGC. The US Bankruptcy Court of the Southern District of New York approved the
The writing was already on the wall, but the company confirmed it’s going bust Prime Trust, a crypto custodian, has filed for Chapter 11 bankruptcy protection in Delaware after a recent shortfall in customer funds. According to a filing on August 15, the company has between 25,000 and 50,000 creditors, with estimated liabilities of between
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