CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data

Bankruptcy

Celsius is being sold to crypto consortium Fahrenheit (Pixabay)

Celsius Token Holders Lose Bid to Hike CEL Valuation

Some creditors of the bankrupt crypto lender argue it should be valued at a higher $0.80, the nominal price when the company collapsed, despite allegations of market manipulation

By Jack Schickler

Aug 25, 2023 at 1:51 p.m. UTC

Aug 25, 2023

regulationsCelsiusBankruptcyCEL

Prime Trust Lost $8M in Doomed Terra Stablecoin Investment, CEO Says

A separate 2021 wallet bungle by the crypto custodian, taken into receivership in July, cost it $76 million, a court filing said

By Jack Schickler

Aug 25, 2023 at 9:46 a.m. UTC

Aug 25, 2023

regulationsPrime TrustBankruptcy

Hackers have accessed FTX and BlockFi customer data (Kris/Pixabay)

FTX, BlockFi, Genesis Customer Data Compromised in Kroll Hack

A ‘cybersecurity incident’ affected Kroll, which gathers customer claim data on behalf of bankrupt companies.

By Jack Schickler

Aug 25, 2023 at 7:44 a.m. UTC

Aug 25, 2023

regulationsFTXBlockFiBankruptcyKroll

FTX Taps Galaxy to Sell, Stake and Hedge Its Crypto Billions

The bankrupt exchange wants to return funds to creditors in dollars without denting value.

By Jack Schickler

Aug 24, 2023 at 7:16 a.m. UTC

Aug 24, 2023

regulationsFTXGalaxyBankruptcy

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

FTX Debtors Revise Settlement Proposal After Objection From U.S. Trustee

The latest proposal will see the debtors include the U.S. Trustee as a noticed party and reduce the maximum settled value for claims from the earlier $10 million to $7 million.

By Amitoj Singh

Aug 21, 2023 at 6:23 a.m. UTC

Aug 21, 2023

regulationsFTXCryptoBankruptcyU.S. Trustee officetop news

Celsius creditors will vote on the proposed sale to Fahrenheit (Mustang Joe/Flickr)

Celsius Creditors to Vote on Bankruptcy-Escape Plan After Judicial Approval

Creditors will have a month to mull the sale to Fahrenheit, which court filings say could see them recover 67%-85% of holdings.

By Jack Schickler

Aug 18, 2023 at 7:13 a.m. UTC

Aug 18, 2023

regulationsCelsiusBankruptcy

John J Ray III took over as FTX CEO in November (House Committee on Financial Services)

Genesis, FTX Strike Deal for $175M Bankruptcy Claim

Though a sharp drop from the $4 billion originally claimed, lawyers hope it will let them get on with winding up estates.

By Jack Schickler

Aug 17, 2023 at 11:50 a.m. UTC

Aug 17, 2023

regulationsFTXGenesisBankruptcy

Crypto Custodian Prime Trust Files for Bankruptcy

Beleaguered crypto custodian Prime Trust has filed for Chapter 11 bankruptcy protection on Monday, as the chill of crypto winter drags on. This comes after CoinDesk recently reported that the company looked poised to enact potentially massive layoffs. "First Mover" hosts Jennifer Sanasie and Lawrence Lewitinn weigh in on the latest developments.

By CoinDesk Staff

Aug 15, 2023 at 2:15 p.m. UTC

Aug 15, 2023

cdtvFM ClipPrime TrustBankruptcy

Policy

Regulations

FTX Fires Back at Creditors 'Willing to Gamble Estate Assets on Higher Returns'

The committee of unsecured creditors had criticized the bankrupt estate's reorganization plan submitted to a Delaware court in July.

By Amitoj Singh

Aug 10, 2023 at 12:08 p.m. UTC

Aug 10, 2023

regulationsFTXreorganizationLawyersJohn Ray IIIcreditorsBankruptcy

Core Scientific's Marble facility in North Carolina. (Core Scientific)

Finance

Bitcoin miner

Bitmain, Anchorage Expected to Take Equity in Bitcoin Miner Core Scientific as Part of Bankruptcy Plan

The world's largest crypto mining machine maker is set to take a $54 million stake in Core Scientific as the miner emerges out of Chapter 11 proceedings.

By Eliza Gkritsi

Aug 8, 2023 at 2:02 p.m. UTC

Aug 8, 2023

Bitcoin MinerBitcoin MinersBitcoin MiningBlockFiFoundryBitmainAnchorageAnchorage DigitalBankruptcy