Crypto exchange Gemini said users of its now-defunct Earn product received $2.18 billion of their digital assets, according to a May 29 statement. These distributions amount to 97% of the total digital assets owed to Earn users, marking a significant recovery since the collapse of crypto lender Genesis, which halted withdrawals in November 2022. In-kind […]
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Gemini has announced a $2.18-billion distribution to its Earn program users 18 months after it suspended withdrawals.
An independent probe found that Sullivan & Cromwell was not complicit in the now-defunct exchange’s fraud.
Bitcoin price shows strength as investors expect the Fed to resume printing, but a handful of global macroeconomic headwinds are still in play.
Crypto exchange Gemini said its defunct Earn product users will begin receiving approximately 97% of their frozen digital assets by the end of this month. According to a recent statement, the exchange clarified: “As a reminder, the initial distributions will be in kind. This means, for example, that if you had lent one bitcoin in the […]
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Pleterski and an associate were arrested months after multiple investor complaints and months of police investigation.
The bankrupt FTX estate has unveiled a new reorganization plan that promises substantial returns to its creditors. FTX creditors with claims below $50,000 would be eligible for a 118% recovery within 60 days of its approval by the Delaware bankruptcy court. Other non-governmental creditors would receive 100% of their claims plus up to 9% interest […]
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Bankrupt cryptocurrency exchange FTX has proposed a new reorganization plan that would see a whopping 98% of its creditors get back 118% of their claims – in cash – within 60 days of court approval, according to new documents filed Tuesday evening.
Salame proposes to satisfy the debtors by transferring a residence he owns to FTX Digital Markets Ltd.
Venture capital firm Pantera Capital successfully acquired an undisclosed amount of discounted Solana tokens in a recent auction orchestrated by the bankrupt FTX exchange managers. While specific details of the auction are not fully disclosed, Pantera Capital, alongside industry stalwarts like Galaxy Digital, had previously made significant investments in SOL tokens, totaling around $1.9 billion […]
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FTX creditors have been urged to participate in the defunct exchange’s bankruptcy estate’s planned auction of its remaining Solana token holdings. On April 20, Figure CEO Mike Cagney revealed that the next round of FTX’s locked Solana token sales would be via auction, compared to previous ones sold directly to venture capital firms like Galaxy […]
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The bankrupt FTX exchange emptied its FTT treasury account to a new wallet address on April 18. Arkham Intelligence’s dashboard showed that the transferred assets from the FTT Treasury wallet include 195.87 million FTT tokens valued at approximately $247 million, 1,938 ETH valued at around $6 million, and 6.36 million JOE tokens worth $3.25 million. […]
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This secured fund, inclusive of interest, accounts for about 25% of Voyager’s creditors’ aggregate claims and is anticipated to be disbursed shortly.
Galaxy Trading, Pantera Capital and Neptune Digital Assets have acquired nearly two-thirds of FTX’s stake in SOL.
Lawyers for FTX say that customer claims for four SBF-linked cryptocurrencies: MAPS, OXY, SERUM, and BOBA should be heavily discounted or reduced to zero.
AI firm Anthropic has blocked Saudi Arabia from engaging in the sale process of 8% of its shares — currently owned by defunct crypto exchange FTX, CNBC reported on March 22, citing people familiar with the matter. FTX is selling the stake as part of its bankruptcy proceedings to repay its creditors, who lost billions […]
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Pellegrino asserted that 3AC was financially unstable when proposing the arrangement to LayerZero and criticized Davies for misleading and taking advantage of associates and partners.
FTX CEO John Ray III has debunked Sam Bankman-Fried’s (SBF) claims about the level of losses suffered by users of the defunct exchange. In a March 20 letter to Judge Kaplan, Ray said Bankman-Fried’s statements were “categorically, callously, and demonstrably false” because the exchange users would “never be in the same position they would have […]
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Kyle Davies, the co-founder of the now-defunct Three Arrows Capital, has stated that he is not sorry for the company going bankrupt.
Genesis and Gemini have taken steps to compensate users affected by their failed Earn program. According to a March 19 statement from Gemini, Genesis asked a bankruptcy court to approve a settlement in principle that will distribute funds to users. The request will be considered during an upcoming hearing on April 16. If the settlement […]
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Bankrupt crypto lender Genesis Global has consented to a $21 million civil penalty tied to the now-defunct Gemini Earn lending initiative, according to a March 19 statement from the US SEC. Under the settlement terms, the SEC will not be paid the penalty until Genesis satisfies all bankruptcy claims, including those from Gemini Earn investors. […]
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London-based Attestor has filed a lawsuit against FTX claims seller Lemma after making a 200% profit on the purchased FTX claims stash.
A Google document attached to the U.S. government sentencing memorandum reveals “random probably bad ideas” that Sam Bankman-Fried had to repair his public image.
Coinbase’s offering will better position the firm to pay off three existing debts due in 2026, 2028 and 2031.
The New Zealand exchange went offline in 2019 following a cyber attack that saw millions of dollars worth of tokens stolen.
Barry Silbert, CEO of Digital Currency Group once pitched creating a combined company with Gemini that could compete with the likes of Coinbase and FTX.
The FTX collapse and initial efforts to recover funds are described in new letters attached to Sam Bankman-Fried’s sentencing submission.
FTX Europe will be sold back to its founders for $32.7 million, roughly three years after being acquired by Sam Bankman-Fried for $323 million.
Digital Currency Group (DCG) is objecting to the settlement between the New York attorney general and Genesis – the failed crypto lender that was among DCG's array of digital assets businesses.
Filings suggested that Genesis Global Holdco held roughly $1.6 billion worth of shares of Grayscale Bitcoin Trust, Grayscale Ethereum Trust and Grayscale Ethereum Classic Trust.