Legal fees skyrocket in high-profile crypto bankruptcies
High-profile bankruptcy cases have become a lucrative goldmine for two major law firms involved in the legal proceedings: Sullivan and Cromwell and Kirkland and Ellis. Go to Source
celsius
Auto Added by WPeMatico
Report: Bankman-Fried Stands by Legal Team Amid Potential Conflict of Interest
Sources report that Sam Bankman-Fried (SBF), the erstwhile crypto magnate and former head of FTX, intends to utilize his newly appointed legal team, despite these attorneys also serving Alex Mashinsky, the former chief of Celsius. On Wednesday, in a courtroom declaration, SBF confirmed his complete understanding that his legal representatives were also advocating for Mashinsky. … Read more
Ethereum Surpasses $2250 Mark Amidst Deposit Reports By Celsius And FTX
Ethereum, the second-largest cryptocurrency by market capitalization, has surged past the $2250 mark, currently trading at $2266 with a 2% increase over the past 24 hours. This upward momentum comes despite recent reports indicating significant deposits by Celsius and FTX to centralized exchanges (CEXs). Spotonchain’s on-chain reports reveal that Celsius and FTX collectively transferred $59.06 … Read more
Hut 8 signs deal to develop new mining site to build equity with Celsius creditors
Hut 8’s new mining site in Cedarvale, Texas, will house almost 66,000 miners and will be powered by more than 215 MWof energy. Go to Source
Celsius faces hurdle as judge hints at new vote for Bitcoin mining shift
Judge Martin Glenn reportedly said that the proposed transformation into a Bitcoin mining business deviates significantly from the deal creditors initially voted on. Go to Source
Celsius grants access to withdrawals for eligible crypto holders
Eligible participants can withdraw 72.5% of their cryptocurrency holdings minus transaction fees. Go to Source
Celsius entity to focus only on mining under proposed reorganization plan
The lending firm has been in bankruptcy court since its Chapter 11 filing in 2022, while the SEC filed a lawsuit against both the firm and former CEO Alex Mashinsky in July. 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
SEC’s Gensler hints he’s open to a FTX reboot under proper leadership: Report
“If Tom or anybody else wanted to be in this field, I would say, ‘Do it within the law,’” SEC Chair Gary Gensler iterated. Go to Source
Luxor refutes claims its Bitcoin hashrate-backed product is BlockFi, Celsius 2.0
“The return comes from hashrate, not from pixie dust, ponzi schemes, or rehypothecation,” a Luxor Technology executive stressed. Go to Source
