Earlier this year, bankrupt cryptocurrency firm FTX called off plans to resurrect its exchange. And that was a missed opportunity, some of the company’s creditors told The Wall Street Journal in a report published Thursday (March 27). “They are responsible for destroying billions of dollars in value,” said Arush Sehgal, one of those creditors. “They had a thriving business
US News By Richard Pollina Published March 21, 2024, 6:50 a.m. ET A co-founder of a failed cryptocurrency hedge fund who lost $3.5 billion in investor cash grinned as he showed no remorse for losing the funds — as he remains on the run in an unknown location. Kyle Davies, the co-founder of the bankrupted
Published 1 minute earlier on Bankrupt crypto lender Genesis Global Capital has filed a new motion with the U.S. Bankruptcy Court in the Southern District of New York seeking authorization to sell approximately $1.6 billion in trust assets. According to the filing, the assets held by Genesis, a subsidiary of the Digital Currency Group, include
Terraform Labs has filed for Chapter 11 bankruptcy protection, less than two years after a collapse of the company’s cryptocurrency devastated traders around the world January 22, 2024, 10:30 AM ET • 2 min read NEW YORK — Terraform Labs has filed for Chapter 11 bankruptcy protection, less than two years after a collapse of
Terraform Labs, the company that wiped out $40 billion from the crypto market with the collapse of its TerraUSD and Luna stablecoins, has finally filed for Chapter 11 bankruptcy protection on Sunday. Bloomberg reports that the crypto firm’s estimated assets and liabilities are both in the range of $100 million to $500 million, with the
While 2023 might be remembered for the sheer number of crypto bankruptcy cases, the biggest one that’s seen FTX creditors seek to recover over $8 billion could go on for years due to the sheer number of people and companies fighting over what’s left. Alan R. Rosenberg, a partner at Markowitz Ringel Trusty & Hartog,