Bankruptcy Archives - Page 2 of 2

FTX Co-Founder Sam Bankman-Fried Faces US Extradition, Bankruptcy Court Says Top Execs Won’t Be Compensated

Jack J. Kelly Bankruptcy, Cryptocurrency November 22, 2022

It’s been two weeks since the FTX collapse and 11 days since the company filed for Chapter 11 bankruptcy protection. Now, according to a few reports, officials from the U.S. and the Bahamas are talking about extraditing SBF to the U.S. for questioning regarding ...Read More

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Crypto Exchange Gemini Suffers $485M Rush of Outflows Amid Contagion Fears

Jack J. Kelly Bankruptcy, Cryptocurrency, Gemini November 17, 2022

Gemini, a crypto exchange and custodian founded by the Winklevoss brothers, has suffered a rush of withdrawals as crypto firms wrestle with the reverberations of the FTX-Alameda bankruptcy and subsequent contagion within the digital asset industry. Data by blockchain intelligence platform Nansen shows that Gemini saw $485 million ...Read More

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Key House lawmaker calls collapse of crypto exchange FTX ‘a dumpster fire’ as Financial Services Committee investigates

Jack J. Kelly Bankruptcy, Cryptocurrency November 16, 2022

Calling the collapse of cryptocurrency exchange FTX “a dumpster fire,” House lawmakers called on U.S. bank regulators Wednesday to step of oversight of the industry as they investigate just how Sam Bankman-Fried’s $32 billion company collapsed within a matter of days. “There is no ...Read More

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SEC Commissioner Hester Peirce: FTX’s Collapse Could Finally Be ‘Catalyst’ for Regulation

Jack J. Kelly Bankruptcy, CFTC, Cryptocurrency, Regulation, SEC November 14, 2022

The crumbling of crypto exchange FTX and its subsequent bankruptcy filing has brought much negative attention for the crypto industry. However, that may be just the wake-up call U.S. lawmakers need, said Hester M. Peirce, a commissioner at the Securities and Exchange Commission (SEC). Peirce, who joined CoinDesk TV ...Read More

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U.S. authorities probe FTX collapse, executives’ involvement

Jack J. Kelly Bankruptcy, CFTC, Commodity Futures Trading Commission, Cryptocurrency, Department of Justice, Investigation, SEC, Securities and Exchange Commission November 14, 2022

U.S. prosecutors in New York are probing FTX’s collapse, a source with knowledge of the investigations said, after the crypto exchange filed for bankruptcy protection last week following a rush of customer withdrawals. The Justice Department, Securities and Exchange Commission and Commodity Futures Trading Commission are ...Read More

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Ex-CEO of Bankrupt Crypto Lender Celsius Withdrew $10M Weeks Before Company Froze Customer Accounts

Jack J. Kelly Bankruptcy, Cryptocurrency October 3, 2022

Alex Mashinsky, the embattled founder and former CEO of Celsius Network, removed $10 million from the now-bankrupt crypto lender weeks before Celsius halted customer withdrawals in June, the Financial Times reported, citing unnamed sources. Mashinsky, who resigned as CEO Sept. 27 Eastern time, withdrew the cryptocurrency in May, according ...Read More

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