Bankruptcy
Crypto Miner Core Scientific Paid More Than $1M to CEO-Affiliated Jet Company For Employees
The world's largest bitcoin miner by computing power made its last payment to the firm in October 2022.
Celsius Failed to Record Some 7,000 Intercompany Transfers Worth Billions Leading Up to Bankruptcy
A lack of record-keeping could make it impossible to "fully reconstruct" the bankrupt crypto lender's multi-billion-dollar intercompany claim, court filings show.
BlockFi Looks to Dismiss Bankruptcy Case for SBF’s Robinhood Shell Company
Emergent Fidelity’s case is "futile," says the bankrupt crypto lender seeking access to its 55 million Robinhood shares.
Stronghold Digital Mining CEO on Latest Debt Restructuring Deal
Bitcoin miner Stronghold Digital's (SDIG) latest debt restructuring deal will allow the postponement of principal repayments on $54.9 million of debt through June 2024. Stronghold Digital Mining CEO and co-Chairman Greg Beard discusses the firm's strategies to avoid bankruptcy in a crypto winter. Plus, insights on the two-year deal with miner hosting company Foundry for 4,500 miners and reaction to Sen. Elizabeth Warren urging the U.S. government to compel crypto miners to disclose their energy consumption data. CoinDesk and Foundry are both owned by Digital Currency Group (DCG).
Compute North’s Reorganization Plan Approved by Bankruptcy Judge
The hosting firm, one of North America’s largest, settled $250 million in secured debt and came to terms with about 11 companies.
Mt. Gox’s Two Largest Creditors Elect Paid Out Mostly in Bitcoin: Sources
The two biggest creditors of Mt. Gox, the crypto exchange that failed due to a hack nine years ago, have elected to get their bankruptcy recovery paid out mostly in bitcoin (BTC), according to people familiar with the matter. This decision could soothe longstanding fears that a wave of simultaneous liquidations tied to Mt. Gox bankruptcy recoveries could drive down BTC's price. "The Hash" panel discusses the latest developments as the price of bitcoin tops $25,000.
Mt. Gox’s 2 Largest Creditors Pick Payout Option That Won’t Force Bitcoin Sell-Off: Sources
The early lump sum payment they picked is set to be paid out in September. The option to wait until all Mt. Gox litigations settle could net higher payouts but may take another five to nine years, sources said.
FTX’s Bahamas Unit Commingled Client, Corporate Funds, Liquidators Say
FTX Digital had bank accounts with a balance of $219 million, according to a PriceWaterhouseCoopers report.
Judge Clears Celsius' Plan to Sell Bitmain Mining Coupons Worth Over $7M
The crypto lender must sell the vouchers before they expire to raise funds for the bankruptcy estate.
FTX Transferred $7.7B From Bahamian Estate to US Units Ahead of Bankruptcy Filing, Court Told
Representatives for FTX said whether assets belong in the Bahamian estate or in the U.S. estate remain open issues.
