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The third try is a charm for the crypto brokerage, whose assets were almost bought by FTX and Binance.US. Now it’s just handing what it has over to its creditors. Go to Source Powered by WPeMatico
EY, the global accounting and professional services organization, released a long-awaited update on Friday for the creditors of Quadriga CX. The Canadian cryptocurrency exchange, which had sought bankruptcy protection in 2019 with liabilities of C$215.7 million and assets totaling around C$28 million, had left its creditors in a state of uncertainty. In the latest notice … Read more
Return of funds does not apply to users of interest-bearing accounts, ruled U.S. bankruptcy judge Michael Kaplan. Go to Source Powered by WPeMatico
The settlement plan proposed in February would give Genesis creditors 80% recovery of funds but many raised demands, leading to the mediation. Go to Source Powered by WPeMatico
The fund transfer may be part of a recovery effort to repay creditors of the failed FTX crypto exchange. Go to Source Powered by WPeMatico
Former CEO of crypto exchange FTX, Sam Bankman-Fried, has asked a judge in the U.S. to dismiss several charges against him filed after his extradition from the Bahamas. His lawyers insist that prosecutors have not obtained consent from Bahamian authorities for the additional counts. FTX’s Sam Bankman-Fried Urges Court to Drop Post-Extradition Charges Attorneys representing … Read more
The firm estimated it had more than 100,000 creditors, between $500 million and $1 billion in assets, and between $500 million and $1 billion in liabilities. Go to Source Powered by WPeMatico
Certain Celsius users, largely those who only ever held funds in custody accounts, had previously been limited to withdrawing up to 94% of their funds. Go to Source Powered by WPeMatico
The bankrupt crypto brokerage has entered the final stages of liquidation procedures after Binance abandoned its acquisition deal last week. Go to Source Powered by WPeMatico
The judge said he read all the papers and declarations related to the FTX debtors’ motion for the sale of LedgerX and was “satisfied” with the proceedings. Go to Source Powered by WPeMatico
