Bankruptcy

Lost your cryptocurrency in the midst of Chapter 11 bankruptcy filings? You probably won’t get it back • TechCrunch

If you lost access to your money when the crypto company holding your assets files for bankruptcy, then you’re probably out of luck. As Chapter 11 bankruptcy proceedings progress for several well-known crypto companies, those who lost funds are surely hoping to get all — or at least some — of their money back. Lawyers …

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Crypto lender Celsius backed its token, benefiting insiders – the US bankruptcy examiner

SINGAPORE/LONDON, Jan 31 (Reuters) – Bankrupt crypto lender Celsius Network used investor money and customer deposits to back its own token, inflating its balance sheet while two of its founders cashed in millions, a report issued by a U.S. court investigator said. . Tuesday showed. Crypto lenders like Celsius have boomed during the COVID-19 pandemic, …

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Will Genesis bankruptcy change the crypto lending business?

Genesis Global Capital, one of the leading crypto lenders in the industry, filed for bankruptcy protection on January 19, 2023. Digital Currency Group is a wholly owned crypto lending company. The crypto lender decided to file for bankruptcy as it had ongoing problems after the third largest crypto exchange, FTX, filed for bankruptcy on November …

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Bitcoin just recovered from the implosion of FTX. Could Genesis bankruptcy push it to a new low?

By Frances Yue Welcome back to the Distributed Ledger. This is Frances Yue, crypto reporter at MarketWatch. As crypto lender Genesis reportedly prepares to file for bankruptcy as early as this week, I spoke with David Siemer, CEO of Wave Financial Group, and Hany Rashwan, CEO of 21Shares, to discuss its potential impact. Meanwhile, the …

Bitcoin just recovered from the implosion of FTX. Could Genesis bankruptcy push it to a new low? Read More »

Crypto lender Genesis has claimed $5.1 billion in liabilities since November

Crypto lender Genesis reported a total of $5.1 billion in liabilities shortly after it stopped its customers from withdrawing funds from the platform in November, according to the company’s bankruptcy filings. Genesis Global Holdco LLC and two of its credit subsidiaries, which filed for bankruptcy protection Thursday in New York, are the latest crypto firms …

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Crypto Price Check: Favor Is Back, But Impact of Scandal Remains

Cryptocurrency prices showed signs of life as investors sifted through the remains of bankruptcies and scandals in the sector. Bitcoin (~BTCUSD) it was down 1% to $18,120.31 on Jan. 12, according to data firm CoinGecko, but is up 7.2% on the week. Ether, the native currency of the ethereum blockchain, fell 1.2% to $1,383.85 but …

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Once valued at $1.5 billion, crypto payment provider Wyre will shut down by the end of January

Editor’s note: With so much market volatility, stay tuned for daily news! Catch up in minutes with our quick summary of today’s news and must-read expert opinions. Sign up here! (Kitco news) – The ongoing crypto winter has devastated crypto payment service provider Wyra, which will reportedly shut down its services by …

Once valued at $1.5 billion, crypto payment provider Wyre will shut down by the end of January Read More »

FTX, Luna, Celsius, Voyager: The Year of Crypto Bankruptcy

When it comes to cryptocurrencies, bitcoin usually dominates. The public has often confused the most popular digital currency as one that represents the entire cryptocurrency industry. Since it was created by one or more anonymous people in 2009, bitcoin has always been given a leading role. Cryptocurrency enthusiasts see the most prominent cryptocurrency as a …

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