Safety Check: If Crypto Custodian Fails, Clients May Not Get a Full Payout
Crypto exchanges — not segregating blockchain addresses — could lead to ownership disputes in the event of insolvency, research says. Go to Source Powered by WPeMatico
Bankruptcy
Auto Added by WPeMatico
Report: Bankruptcy Law Can Be Unclear When Crypto Custodians Go Belly Up
The past few years have seen a glut of cryptocurrency exchanges becoming insolvent. But what legal rights do their customers have with regards to the return of their held assets? Go to Source Powered by WPeMatico
Gox Rising Offers $800 per Bitcoin Claim to Buy out Mt Gox Creditors
Gox Rising has offered to buy out creditor claims from the collapsed cryptocurrency exchange Mt. Gox. The Brock Pierce-led outfit will pay $800 per bitcoin claim, either in BTC or cash, to creditors who are unwilling to wait for the finalization of the ongoing civil litigation. “Our payment would be put in escrow and made … Read more
Switzerland’s Famed “Crypto Valley” Seeks $103 Million Government Bailout
Switzerland’s “crypto valley” is asking the government for 100 million Swiss francs ($102.7 million) in funding, local media reported. The once flourishing Swiss cryptocurrency industry is struggling to survive following the withdrawal of private equity investors. About 80% of 203 firms surveyed by the Swiss Blockchain Federation recently warned of imminent bankruptcy. Only half of … Read more
FCoin Working to Resume Operations, Promises to Return Lost Funds
FCoin announces its relaunch, promising to repay all its users Go to Source Powered by WPeMatico
FCoin Blames Poor Auditing for Shutdown, but Others Suspect Exit Scam
Is FCoin another exit scam in the cryptocurrency exchange scene or is its insolvency simply due to ineptitude on the part of the company? Go to Source Powered by WPeMatico
Cannabis Buzz Harshed by Regulations, Cash Shortage While Cryptocurrency Is Ready to Light Up
Recent reports show that major marijuana companies are running out of money, and businesses in Canada are especially in danger of becoming illiquid. Major producers in the weed-friendly nation have just over 6 months of cash on hand, according to the information, and comparable companies in the U.S. just over one year of liquidity. In … Read more
London-Based Cryptocurrency Exchange LBX Faces Compulsory Liquidation
London-based cryptocurrency exchange LBX is the latest digital asset trading venue to face critical difficulties and is now being liquidated. Despite rising crypto prices, which typically lead to an influx of new traders, some regulated exchanges have struggled to survive amidst rising legal fees, compliance costs, and other overheads. Also Read: Crypto Winter Claims Another … Read more
Fortress Renews Offer to Buy Mt Gox Claims for $778 per Coin
According to reports, the New York-based private equity firm Fortress is offering Mt Gox creditor claims at $778 per coin. The offer is 13.5% lower than what Fortress offered in July and Mt Gox claimants have until December 31 to accept the offer. Also read: Reports Criticize Bitcoin SV Miners and the Chain’s Upcoming Fork … Read more
Canada-Based Crypto Mining Firm Great North Data Files for Bankruptcy
Crypto mining company Great North Data has reportedly submitted bankruptcy documents, listing millions in liabilities Go to Source Powered by WPeMatico
