Corporate bankruptcy
Crypto loan company Genesis Investing lays off 30% of workforce
Barry Silbert, Founder and CEO, Digital Forex Group David A. Grogan | CNBC Genesis Investing, the embattled crypto lending arm of Barry Silbert’s Electronic Forex Group, has slash headcount by 30% as it faces growing force from creditors and the looming danger of personal bankruptcy, according to a particular person with awareness of the matter. […]
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Sam Bankman-Fried pleads not responsible to federal fraud prices in New York
Previous FTX main government Sam Bankman-Fried (C) comes to enter a plea before US District Judge Lewis Kaplan in the Manhattan federal court docket, New York, January 3, 2023. Ed Jones | AFP | Getty Pictures Sam Bankman-Fried pleaded not guilty in New York federal court Tuesday to 8 charges linked to the collapse of […]
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Binance.US to acquire bankrupt crypto exchange Voyager’s belongings for $1 billion, months right after prepared FTX deal failed
Voyager said it has approximately $1.3 billion of crypto on its system and retains over $350 million in income on behalf of shoppers at New York’s Metropolitan Professional Bank. Justin Sullivan | Getty Pictures Binance.US will get the crypto property and purchaser deposits of Voyager Electronic in a $1.02 billion offer, months soon after a […]
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Crypto.com CEO asks investors to overlook red flags from his business past
Kris Marszalek, CEO of Crypto.com, speaking at a 2018 Bloomberg event in Hong Kong, China. Paul Yeung | Bloomberg | Getty Images Kris Marszalek wants everyone to know that his company, Crypto.com, is safe and in good hands. His TV appearances and tweets make that clear. It’s an understandable approach. The crypto markets have been […]
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Sam Bankman-Fried could face years in prison over FTX’s $32 billion meltdown — if the U.S. ever gets around to arresting him
FTX CEO Sam Bankman-Fried attends a press conference at the FTX Arena in downtown Miami on Friday, June 4, 2021. Matias J. Ocner | Miami Herald | Tribune News Service | Getty Images Sam Bankman-Fried, the disgraced former CEO of FTX — the bankrupt cryptocurrency exchange that was worth $32 billion a few weeks ago […]
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Celsius clientele with collateral stuck on failed crypto system switch to personal bankruptcy procedure for relief
Alan Knitowski retains an MBA, has labored in technologies and finance for about 25 years and is CEO of a cell software program business that trades on the Nasdaq. That failed to stop him from finding duped by a crypto organization. Knitowski borrowed $375,000 from crypto loan provider Celsius about several many years and posted […]
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DOJ asks for unbiased probe into FTX personal bankruptcy, a most likely tactic to acquire evidence on alleged fraud
John Ray, chief govt officer of FTX Cryptocurrency Derivatives Trade, comes at bankruptcy courtroom in Wilmington, Delaware, US, on Tuesday, Nov. 22, 2022. Eric Lee | Bloomberg | Getty Photographs The Department of Justice has asked for that an unbiased examiner be appointed to critique “sizeable and significant allegations of fraud, dishonesty” and “incompetence” following […]
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‘I did not at any time try to commit fraud on any one,’ previous FTX CEO Sam Bankman-Fried claims
Tom Williams | CQ-Roll Simply call, Inc. | Getty Visuals Placing a contrite tone, former FTX CEO Sam Bankman-Fried claimed he “failed to do a good position” at upholding his obligations to regulators, shoppers, and investors in a hotly expected discussion with CNBC’s Andrew Ross Sorkin at the Dealbook Summit. “I did not at any […]
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How FTX ‘death spiral’ spelled doom for BlockFi, according to personal bankruptcy submitting
The BlockFi symbol on a smartphone arranged in the Brooklyn borough of New York, on Thursday, Nov. 17, 2022. Gabby Jones | Bloomberg | Getty Images There was supposedly a single gentleman who could conserve crypto — Sam Bankman-Fried. The former FTX CEO bailed out and took more than crypto firms as cryptocurrency markets withered […]
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Crypto business BlockFi documents for personal bankruptcy as FTX fallout spreads
BlockFi logo exhibited on a phone monitor and illustration of cryptocurrencies are observed in this illustration photograph taken in Krakow, Poland on November 14, 2022. Jakub Porzycki | Nurphoto | Getty Visuals Distressed crypto agency BlockFi has filed for Chapter 11 bankruptcy defense in the United States Bankruptcy Court docket for the District of New […]
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