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bankruptcy

House Financial Services Committee Holds Hearing On FTX Collapse

Finance

Mysten Labs to Buy Back Equity, Token Warrants From FTX Bankruptcy Estate for $96M

FTX Ventures invested $101 million in Mysten Labs just months before Sam Bankman-Fried’s empire collapsed. Now, Mysten is buying back the stake (and sui token warrants) for $96 million through bankruptcy court.

By Tracy Wang

Mar 23, 2023 at 8:25 p.m. UTC

Mar 23, 2023

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CDCROP: Crypto Exchange FTX Grapples With 'Liquidity Crunch' As Binance Deal Fades (Leon Neal/Getty Images)

Finance

Analysis

Dreams of Rebooting FTX Face Cold Reality That Its Technology Wasn’t Well-Regarded

Woefully high latency, bugs in the API traders use to interface with FTX and coding mishaps plagued the exchange, according to several former clients who spoke to CoinDesk.

By Oliver Knight Helene Braun

Mar 23, 2023 at 6:20 p.m. UTC

Mar 23, 2023

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Finance

Ftx

FTX Bankruptcy Estate to Claw Back $460M From Modulo Capital

Alameda Research seeded little-known Bahamas-based hedge fund Modulo Capital with $475 million in 2022. The recovery includes $404 million in cash.

By Tracy Wang

Mar 23, 2023 at 12:35 a.m. UTC

Mar 23, 2023

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Dov Kleiner, partner at Kleinberg, Kaplan, Wolff & Cohen, P.C. (kkwc.com)

Policy

Svb financial

SVB Financial’s First Bankruptcy Hearing ‘Wasn’t Really So Routine,’ Says Legal Expert

The former Silicon Valley Bank holding company needs access to the bank's FDIC-controlled funds to pay creditors and support two other operations, says Kleinberg, Kaplan partner Dov Kleiner.

By Fran Velasquez

Mar 22, 2023 at 6:59 p.m. UTC

Mar 22, 2023

Svb financialSvbSilicon valley bankCoinDesk TVDov kleinerBankruptcyUS

Finance

Core scientific

Core Scientific Bankruptcy Judge Approves Transfer of Over $20M of Equipment to Its Exclusive Energy Negotiator

Core Scientific had stopped paying Priority Power Management in May 2022.

By Eliza Gkritsi

Mar 20, 2023 at 9:00 p.m. UTC

Mar 20, 2023

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Sam Bankman-Fried leaving court on February 16, 2023 (Liz Napolitano/CoinDesk)

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Ftx

FTX’s Bahamas Arm a ‘Nullity’ That Should Be Stripped of Assets: Court Filings

The Caribbean arm is a mere shell to further Sam Bankman-Fried’s fraud, FTX's new management says.

By Jack Schickler

Mar 20, 2023 at 10:09 a.m. UTC

Mar 20, 2023

FTXFTX collapseBankruptcyBahamasSam Bankman-Fried

After Silicon Valley Bank's Failure, Regional Banks Face Greater Scrutiny (Spencer Platt/Getty Images)

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Signature bank

Signature Bank Noncrypto-Related Deposits to Be Assumed by New York Community Bancorp Unit: FDIC

The 40 former branches of Signature Bank will operate under New York Community Bancorp's Flagstar Bank, N.A., from Monday. The FDIC will provide digital-banking business deposits directly to those customers.

By Greg Ahlstrand

Mar 20, 2023 at 12:04 a.m. UTC

Mar 20, 2023

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