FTX files billion-dollar lawsuit against ByBit over asset withdrawals
The legal action is pursuing “compensatory and punitive damages” from ByBit regarding the token scheme and the assets held on its platform. Go to Source
Bankruptcy
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Hodlnaut heading for liquidation after failure of restructuring, sale efforts
Recovery from the crypto winter is proceeding, but Hodlnaut won’t survive it. A sealed court order in Singapore appears to spell its doom. Go to Source
Court confirms Celsius bankruptcy exit plan, $2B in crypto to go to creditors
The decision ends the complex case with a creditor-approved plan that will see their partial reimbursement and make them shareholders in a new company. Go to Source
Gemini sues Genesis over GBTC shares used as Earn collateral, now worth $1.6B
Genesis wants to use the shares’ initial value in claims and is not releasing additional collateral transferred by DCG, the suit claims. Go to Source
FTX probes $6.5M in payments to AI safety group amid clawback crusade
Bankrupt crypto exchange FTX wants to look into millions it had given to the Center for AI Safety, a nonprofit that has argued AI should be a global priority next to pandemics and nuclear war. Go to Source
FTX navigates post-bankruptcy options, weighs sale or revival
These options reportedly encompass selling the entire exchange, including its extensive customer base of over 9 million, to the potential of forming a partnership with another entity to revive the platform. Go to Source
BlockFi emerges from bankruptcy and opens wallet withdrawals
BlockFi announced that it is allowing both U.S. and international users to submit withdrawal requests. Go to Source
Caroline Ellison desired to step down but feared a bank run on FTX
Former Alameda CEO Caroline Ellison recognized she wasn’t doing a good job months before the company filed for bankruptcy, but Sam Bankman-Fried persuaded her to stay. Go to Source
Court approves Genesis settlement of $175M to FTX, expunges billions in claims
Genesis previously reportedly said that the $175 million settlement was “fair and equitable,” while FTX creditors wanted to contest it. Go to Source
Binance, Snapchat and capital among things SBF was ‘freaking out about’
Former FTX CEO Sam Bankman-Fried was once “freaking out about” getting regulators to crack down on Binance and raising capital from a Saudi Crown Prince, according to Alameda former CEO Caroline Ellison. Go to Source
