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Bankruptcy

A Genesis booth at the FTX conference in the Bahamas (Danny Nelson/CoinDesk)
Policy
Regulations
Creditors Accuse Genesis of Ballot-Stuffing Over $175M FTX Deal
Genesis is facing headwinds as it seeks to finalize its wind-up after a January bankruptcy – and is now being accused by Gemini and other creditors of voter “manipulation.”
A Genesis booth at the FTX conference in the Bahamas (Danny Nelson/CoinDesk)
By Jack Schickler
Sep 1, 2023 at 10:02 a.m. UTC
Sep 1, 2023
RegulationsGenesisBankruptcyFTXGemini
A Genesis booth at the FTX conference in the Bahamas (Danny Nelson/CoinDesk)
Policy
Regulations
Gemini Opposes Genesis Bankruptcy Plan: 'Woefully Light on Specifics'
Gemini joins two other creditor groups in objecting to Genesis' proposed agreement to resolve its bankruptcy.
A Genesis booth at the FTX conference in the Bahamas (Danny Nelson/CoinDesk)
By Nikhilesh De
Aug 30, 2023 at 9:43 p.m. UTC
Aug 30, 2023
RegulationsGenesisBankruptcyGemini
Genesis filed for bankruptcy in January 2023 (Richard Mortel/Flickr)
Finance
Regulations
Genesis Lender Group Opposes ‘Wholly Insufficient’ DCG Deal
Creditors with $2.4 billion in claims against the bankrupt crypto lender could scupper an agreement made after months of wrangling.
Genesis filed for bankruptcy in January 2023 (Richard Mortel/Flickr)
By Jack Schickler
Aug 30, 2023 at 9:43 a.m. UTC
Aug 30, 2023
RegulationsGenesisDigital Currency GroupBankruptcyGenesis global capital
DCG Reaches In-Principle Deal With Genesis Creditors
Video
Dcg
DCG Reaches In-Principle Deal With Genesis Creditors
Court filings reveal that Digital Currency Group (DCG) has reached an in-principle deal with Genesis creditors to resolve the claims brought up in the crypto lender's bankrupt...
DCG Reaches In-Principle Deal With Genesis Creditors
By CoinDesk Staff
Aug 29, 2023 at 2:14 p.m. UTC
Aug 29, 2023
DCGGenesiscdtvFM ClipBankruptcy
Barry Silbert. CEO & Founder Digital Currency Group (DCG)
Policy
Regulations
DCG Reaches Crucial In-Principle Deal With Genesis Creditors, Recoveries Could Be Up to 90%
The plan could result in recoveries of 70% to 90% in USD equivalent for unsecured creditors and 65% to 90% recovery on an in-kind basis.
Barry Silbert. CEO & Founder Digital Currency Group (DCG)
By Amitoj Singh
Aug 29, 2023 at 6:15 a.m. UTC
Aug 29, 2023
RegulationsDCGGenesisBankruptcycreditorsCourt Cases
Celsius is being sold to crypto consortium Fahrenheit (Pixabay)
Policy
Regulations
Celsius Token Holders Lose Bid to Hike CEL Valuation
Some creditors of the bankrupt crypto lender argue it should be valued at a higher $0.80, the nominal price when the company collapsed, despite allegations of market manipulat...
Celsius is being sold to crypto consortium Fahrenheit (Pixabay)
By Jack Schickler
Aug 25, 2023 at 1:51 p.m. UTC
Aug 25, 2023
RegulationsCelsiusBankruptcyCEL
(Edited by CoinDesk)
Policy
Regulations
Prime Trust Lost $8M in Doomed Terra Stablecoin Investment, CEO Says
A separate 2021 wallet bungle by the crypto custodian, taken into receivership in July, cost it $76 million, a court filing said
(Edited by CoinDesk)
By Jack Schickler
Aug 25, 2023 at 9:46 a.m. UTC
Aug 25, 2023
RegulationsPrime TrustBankruptcy
Hackers have accessed FTX and BlockFi customer data (Kris/Pixabay)
Policy
Regulations
FTX, BlockFi, Genesis Customer Data Compromised in Kroll Hack
A ‘cybersecurity incident’ affected Kroll, which gathers customer claim data on behalf of bankrupt companies.
Hackers have accessed FTX and BlockFi customer data (Kris/Pixabay)
By Jack Schickler
Aug 25, 2023 at 7:44 a.m. UTC
Aug 25, 2023
RegulationsFTXBlockFiBankruptcyKroll
New FTX CEO John J. Ray III (C-Span)
Policy
Regulations
FTX Taps Galaxy to Sell, Stake and Hedge Its Crypto Billions
The bankrupt exchange wants to return funds to creditors in dollars without denting value.
New FTX CEO John J. Ray III (C-Span)
By Jack Schickler
Aug 24, 2023 at 7:16 a.m. UTC
Aug 24, 2023
RegulationsFTXGalaxyBankruptcy
FTX founder Sam Bankman-Fried (Nikhilesh De/CoinDesk)
Policy
Regulations
FTX Debtors Revise Settlement Proposal After Objection From U.S. Trustee
The latest proposal will see the debtors include the U.S. Trustee as a noticed party and reduce the maximum settled value for claims from the earlier $10 million to $7 million...
FTX founder Sam Bankman-Fried (Nikhilesh De/CoinDesk)
By Amitoj Singh
Aug 21, 2023 at 6:23 a.m. UTC
Aug 21, 2023
RegulationsFTXCryptoBankruptcyU.S. Trustee officetop news